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
Several estimates now suggest oil reaching triple digit market this year as supply struggles to cope up with rising demand led by years of underinvestment coupled with retrained supplies from not just Opec but even non-Opec producers worldwide, a report said. Sentiments in the oil market remained upbeat as we entered 2022 with expectations of
The Nigeria Liquefied Natural Gas NLNG Limited (NLNG) says it will supply 100 per cent of its liquefied petroleum gas to the Nigerian market to crash the prices of cooking gas. The NLNG on Thursday in a statement signed by Andy Odeh, the general manager, external relations and sustainable development, said it will prioritise the domestic market
Ahead of the Federal Government’s concluded plans to remove subsidy on the price of Premium Motor Spirit (PMS) as part of the ongoing implementation of the Petroleum Industry Act (PIA), the price of Automotive Gas Oil, also known as diesel, has increased further to N350 per litre in some filling stations in Lagos. Although diesel
The Senate on Thursday passed the Petroleum Industry Bill and approved 3 per cent for the host communities The upper chamber passed the PIB, 2021 after the clause by clause consideration of the report of its joint committee on Petroleum (Upstream, Downstream and Gas) on PIB. Although the Senate approved three per cent for the host communities
As companies expand worldwide and meet online in tools like Zoom, the language barrier can be a real impediment to getting work done. Zoom announced that it intends to acquire German startup Karlsruhe Information Technology Solutions or Kites for short, to bring real-time machine-learning-based translation to the platform. The companies did not share the terms of the deal, but
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
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