Aradel Holdings Plc, an indigenous energy company, has signed a sale and purchase agreement to acquire 100% interest in the Olo and Olo West marginal fields from TotalEnergies EP Nigeria and the Nigerian National Petroleum Company Limited. The acquisition was completed for $16m plus $3.5m of deferred and conditional payments. The Petroleum Mining Lease (for
The ongoing construction of the $5 billion Train-7 project being undertaken by the Nigeria Liquefied Natural Gas (NLNG) at Finima, Bonny Island, Rivers State, has reached 52 percent and currently engages 8,300 Nigerians of diverse skill sets. These facts emerged on Friday as the management of Nigeria LNG Limited, led by the Managing Director, Dr.
FPSO operator BW Offshore has decided to sell one of its FPSO vessels as part of its strategy to transition to floating energy infrastructure investments. BW Offshore has signed an agreement for the sale of the FPSO BW Joko Tole to PT Bahari Inti Tanker and PT Cahaya Haluan Pasifik, both of which are Indonesian companies, in
Dredging Corporation of India (DCI) and National Maritime Dredging Company (NMDC) entered into a strategic alliance today. The alliance will focus on areas not limited to capital dredging works, project development on BOT basis, operate ports as managers, participate in the public, private partnership in dredging works in accordance to the Dredging Policy, Ministry of
It has been more than two months since five suspected pirates were killed by crew of the “Esbern Snare” a Danish frigate in waters said at the time to be the highs seas off the coast of Nigeria. Most of the information and updates available have come from the Danish authorities, with the incident dominating
The Managing Director of Banner Energy Limited, Mr. Nuhu Yakubu, has said his company has started converting petrol and diesel-powered vehicles to Autogas in Abuja. Yakubu disclosed this in a chat with THISDAY, explaining that the project was essentially aimed at converting vehicles nominated solely by the Nigerian National Petroleum Corporation He listed the benefiting
Ghana is preparing to become first Liquefied Natural Gas importer in sub-Saharan Africa, with the terminal at the port of Tema set to receive its maiden cargo in the coming weeks. LNG will add to Ghana’s own gas production and imports from Nigeria via the West African Gas Pipeline, though these have been subject to
The Department of Petroleum Resources has approved the use of intrusion detection pipeline technology in the domestic oil and gas sector. The new technology, our correspondent gathered, would help identify and manage external corrosion, leaks and other interferences, following its technical evaluation and fitness checking by approval officers. It was further gathered that the approval
The Nigerian Content Development and Monitoring Board (NCDMB), the Nigerian National Petroleum Corporation (NNPC) and DSV Engineering on Friday signed the Final Investment Decision (FID) for the construction of 10,000 tonnes/day methanol production plant by the Brass Fertiliser and Petrochemical Company Ltd (BFPCL), committing equity investment of US$670m. The facility would be the largest methanol
The oil market have staged a dramatic rally since early November, with WTI breaking out of a range between the high $30’s and low $40’s for the first time since early this year. In this article, we will take a look at a couple of key drivers for this breakout, and see if it will
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