Uganda: Company Finds More Oil
Tullow Oil's Ngiri-2 appraisal well in the Butiaba Block 1 has encountered more than 40 meters of net oil bearing reservoir, the thickest oil pay so far encountered in the Butiaba area.
Nigeria: Fuel Tanker Explodes, Kills Two in Lagos
COMMERCIAL and social activities in and around Apapa, Lagos were abruptly brought to a halt Wednesday after a petrol tanker exploded into flames burning its driver and motor boy to death.
Uganda: More Oil Discovered
Tullow Oil has made a further oil discovery in Uganda after the Ngiri-2 appraisal well came up trumps with the thickest oil pay found so far in the Butiaba area.
Nigeria: Oil Spill - Fishermen Demand N46 Billion Compensation From Mobil
The Artisanal Fishermen Association of Nigeria (ARFAN) has demanded N46.8 billion from Mobil Producing Nigeria Unlimited (MPNU), as compensation for the destruction of their fishing gears by oil spills.
Kenya: National Oil Company's Import Quota Causes Furore in Market
In a matter of days, the National Oil Corporation of Kenya (Nock) will put to use the 30 per cent monthly oil supplies quota even as the industry questions the rationale behind the new regulations.
Nigeria: Politics of NNPC's Solvency
The confusion that occasionally trails governance in Nigeria again reared its ugly head recently following the altercation between the Minister of State (Finance), Mr. Remi Babalola, officials of the Nigeria National Petroleum Corporation (NNPC) and the Federal Executive Council (represented by the Minister of Information, Prof. Dora Akunyili and her counterpart in Finance, Mr. Olusegun Aganga), over the current state of financial health of the NNPC.
Nigeria: Deregulation Inevitable for Economy, Say CBN, NNPC
Central Bank of Nigeria (CBN) and Nigeria National Petroleum Corporation (NNPC) spoke in unison yesterday to declare that, it only augurs well for the economy if the downstream end of the oil and gas sector was deregulated.
Nigeria: Crude Oil Reserves Drop by 1.6 Billion Barrels
The Department of Petroleum Resources (DPR) has raised the alarm over the declining rate of Nigeria's crude oil reserves, saying it has dropped by 1.6 billion barrels (about 4.79 per cent) in just one year.
Gambia: Elton Oil Company Gives to NCAC
As part of its corporate responsibilities and contribution towards promoting and preservation of our cherished traditional norms and values, Elton Oil Gambia Ltd, last Wednesday presented D120,000 cheque worth of fuel to the National Centre for Arts & Culture (NCAC).
Nigeria: Shell Signs First Gas Supply Contract in Ogun Free Trade Zone
SHELL Nigeria Gas Limited (SNG) has completed moves to comence the supply of gas to Hewang Packaging and Printing FZE in the Ogun_Guangdong Free Trade Zone, Igbesa, Ogun State.
Uganda: Heritage Oil Should Own Up
Petroleum explorer, Heritage, has disputed a 30% tax slapped on earnings from sale of its interests in Uganda oil fields.
Nigeria: House, NNPC Disagree On U.S.$5 Billion Long Dividends
House of Representatives and the Nigeria National Petroleum Corporation (NNPC) yesterday took conflicting positions on the whereabouts of the sum of $5 billion revenue remitted by the Nigeria Liquefied Natural Gas Limited (NLNG) as dividends to the NNPC.
Nigeria: Cislac - No Corporate Social Responsibility Clause in Petroleum Bill
The Petroleum Industry Bill (PIB) lying before the National Assembly, did not include the provision for Corporate Social Responsibility for oil and gas companies, nor did it stipulate clear guidelines for the administration and maintenance of proper health and safety standards that companies must employ while exploring.
Mozambique: Kenolkobil Enters Country With Eye on Buyouts
Listed oil firm KenolKobil has set up a company in Mozambique with an eye on acquisitions as it seeks a larger share of the Southern African oil market.
Uganda: Heritage Oil Exit Earns It U.S. $1.5 Billion
Heritage Oil has completed the sale of its oil and gas interest in Uganda after it accepted terms and conditions set by the Government.
Nigeria: Govt Earns N170 Billion Revenue From Oil in Three Months
The federal government has raked in N170 billion as oil revenue from April to June this year, an official of the Department of Petroleum Resources(DPR) has revealed. The DPR's director, Mr.Andrew Obaje who disclosed this yesterday added that oil reserve and condensate for the period under review stood at 37.17 billion barrel.
Nigeria: Petroleum Industry Bill Ready, Senate Panel Says
The Senate Joint Committee on the Petroleum Industry Bill (PIB) yesterday announced that the bill was ready for plenary debate and passage in the next few days.
Nigeria: Egerue Proffers Solutions to Oil Insurance Problems
A book entitled "Oil and Gas Insurance in Nigeria: The Market, The Money and The Controversy", written by Paschal Egerue, Managing Director, Afribank Insurance Brokers, has been unveiled in Lagos; the book attempts to offer solutions to the problems facing oil and gas insurance in the country.
Nigeria: Drop of 1.6 Billion Barrels in Oil Reserves Threatens Economy
Nigeria's oil reserves have dropped by 1.6 billion barrels in just one year, threatening the economy that depends 90 per cent on oil receipts.
Nigeria: Ugborodo Community Calls Off Protest At Chevron Facility
Protesting women and elders of Ugborodo community, who had laid siege to the Escravos River Crossing Gas Pipeline Project of American oil giants, Chevron Nigeria Limited, for several days, have called off their protest.
Nigeria: DPR Alarmed at Capital Flight Through Fuel Importation
The Department of Petroleum Resources, DPR, the regulator of the oil and gas industry, is alarmed at the level of capital flight from the country, through fuel importation.
Nigeria: Unending Saga Between Oil Firms, Vandals And Illegal Bunkerers
The cause of the oil spill in the Gulf of Mexico may be due equipment failure and as such could be classified as human error. But in Nigeria, oil spill occur almost on a bi-weekly basis in the Niger Delta due to corroded pipeline facilities, willful acts of illegal oil bunkering and pipeline vandalism.
South Africa: Environment Fears Delay Mozambique Fuel Pipeline
ENVIRONMENTAL concerns are holding up construction of a petroleum products pipeline from Mozambique to SA, Petroline, the company building the pipeline, said on Friday.
Uganda: Government Calls Off Oil Deal
Uganda will seek the full amount in taxes from the transfer of assets from Heritage oil after all, according to reliable sources who talked to Sunday Monitor.
Ghana: CJA Speaks on Kosmos, GNPC Brawl
The facts of the dispute as we understand them are that: Kosmos Energy, in clear breach of the Petroleum Agreement and in pursuit of its parochial commercial interest of disposing of their stake, had exposed data licensed to them, to third parties numbering over 20, without the prior consent of GNPC and the Minister of Energy as required under the Petroleum Agreement and Section 23 (5), of the Petroleum Exploration and Production Law, PNDC Law 84 1984, which states that:
Nigeria: Zamfara Earmarks N300 Billion to Build Refinery
Zamfara State at the weekend disclosed its readiness to build a 200,000 barrels per day capacity refinery. The facility is to be built in Nigeria's northern Zamfara State, Mahmud Aliyu Shinkafi, the state governor said.
Nigeria: PIB - U.S. Throws Weight Behind FG - As U.S. Reassures of Continuous Investment
World biggest oil consumer, the United States of America, at the weekend, threw its weight behind Abuja over the Nigeria's efforts to reform its petroleum sector.
Nigeria: Bank Sues Oil Firm Over N661 Million Debt
Afribank Plc has filed a winding up petition before a Federal High Court sitting in Lagos against an oil firm, Imad Oil and Gas Limited, over alleged failure of the firm to liquidate a credit facility of N661.1 million.
Nigeria: Location of Refinery, Handwork of God - Monarch
The Eje Ofu of Ofu Local Government Area, Kogi State, Chief Adebo Peter Opaluwa, has described as "handwork of God" the siting of oil refinery in his domain, a situation that has sent ripples across the state, though he appealed for restraint among the tribes in the state.
Nigeria: NNPC Fails to Submit 10-Year Annual Budget to Senate
The Senate Committee on Petroleum Upstream said at the weekend that the Nigerian National Petroleum Corporation (NNPC) failed to meet the deadline for submission of its annual budgets from 1999 to date and the law authorizing it to make releases of funds totalling N1.5 trillion from its coffers over the years.