Thursday, May 23, 2019
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Petrobarometer

    Reps pass PIGB —  after addressing Buhari’s concerns

Reps pass PIGB — after addressing Buhari’s concerns

The house of representatives has re-committed and passed the the petroleum industry governance bill (PIGB) after considering President Muhammadu Buhari's concerns. [...]

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    NNPC surpasses 2018 remittance target by N40bn

NNPC surpasses 2018 remittance target by N40bn

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    FG: Individuals can no longer own gas cylinders

FG: Individuals can no longer own gas cylinders

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    Shell: Forcados pipeline to remain closed after fire incident

Shell: Forcados pipeline to remain closed after fire incident

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    Fire breaks out at Trans Forcados pipeline spill site in Delta

Fire breaks out at Trans Forcados pipeline spill site in Delta

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    FG ordered to pay British firm $9bn over ‘failed’ gas supply contract

FG ordered to pay British firm $9bn over ‘failed’ gas supply contract

A UK tribunal has ordered the federal government to pay Process and Industrial Development (P&ID), a British firm, $9 billion in damages for an ongoing legal dispute. [...]

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    Shell targets constant electricity for 2.4m homes with Assa North/Ohaji South gas project

Shell targets constant electricity for 2.4m homes with Assa North/Ohaji South gas project

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    OPL 245: Jonathan, Diezani conspired to receive bribe, FG tells London court

OPL 245: Jonathan, Diezani conspired to receive bribe, FG tells London court

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    Oliserv CEO: Banditry not a threat to Ajaokuta-Kaduna-Kano gas pipeline project

Oliserv CEO: Banditry not a threat to Ajaokuta-Kaduna-Kano gas pipeline project

Emeka Okwuosa, chief executive officer, Oilserv Limited, says the increased rate of kidnapping and banditry in Nigeria’s north is not a threat to the Ajaokuta-Kaduna-Kano (AKK) gas pipeline project.Okwuosa made this known in an interview on the sidelines of the Offshore Technology Conference (OTC) in the US.The AKK gas pipeline is designed to enable gas connectivity between the east, west [...]

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    DPR: Only eight of Nigeria’s 83 deepwater blocks are producing oil

DPR: Only eight of Nigeria’s 83 deepwater blocks are producing oil

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    NNPC pledges use of new technology to reduce crude oil production cost 

NNPC pledges use of new technology to reduce crude oil production cost 

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    NNPC declares Nigerian Pavilion open at OTC Texas

NNPC declares Nigerian Pavilion open at OTC Texas

The Nigerian National Petroleum Corporation (NNPC) has officially declared the Nigerian Pavilion at the 2019 Offshore Technology Conference (OTC) in the US, open.Bello Rabiu, NNPC’s chief operating officer, upstream, represented the corporation’s group managing director (GMD) at the opening ceremony on Tuesday.“I formally declare this 2019 OTC open. It is very important for me to show our appreciation to all the [...]

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    Oil majors push for increased offshore investments, carbon reduction

Oil majors push for increased offshore investments, carbon reduction

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    Ondo oil well still burning — 18 days after explosion

Ondo oil well still burning — 18 days after explosion

The Nigerian National Petroleum Corporation joint venture (NNPC/CNL JV) Ojumole well 1 in Ilaje local government area of Ondo state operated by Chevron Nigeria Limited (CNL) is still burning 18 days after explosion.The explosion, which occurred on the oil field on April 18 in Ikorigho community in the state, sparked tension among residents.Speaking with TheCable, Owolemi Ayerin, a chief in [...]

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    Follow TheCable for live updates from the Offshore Technology Conference, Texas

Follow TheCable for live updates from the Offshore Technology Conference, Texas

For five decades and counting, Nigeria has been in the ranks of oil producing countries, even achieving the feat of becoming the largest oil producer in Africa. Yet, the development of deepwater projects in the country has been slow, with regulatory uncertainties and unfavourable fiscal terms hampering investment opportunities.In a recent report, the Nigeria Extractive Industries Transparency Initiative (NEITI) said [...]

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    Aiteo’s Nembe Creek trunk line reopened after fire outbreak

Aiteo’s Nembe Creek trunk line reopened after fire outbreak

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Exchange Rates

May 16, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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