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Group Managing Director of the NNPC, Dr. Maikanti Baru, made the call at the opening ceremony of the second edition of the Nigeria International Petroleum Summit (NIPS) in Abuja. In a goodwill message at the summit, the NNPC helmsman said cross-nation collaboration among oil producing countries in Africa was essential to convert the …
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French oil major Total is reportedly working on sanctioning the development of its Ikike project in Nigeria. Reuters has reported this week that the oil company’s CEO Patrick Pouyanne said at a conference that the offshore project would be approved “in the coming months.” The story of Ikike sanction has been reactivated almost exactly a …
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Sirius Petroleum, the Nigeria-focused oil and gas development and production company, has signed a binding agreement for up to $20 million with Barak Fund SPC Limited, a credit fund focused on Africa. Sirius said on Monday that the $20 million would contribute to the funding of the first phase of the Ororo field development, more …
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by Valerie Jones|Rigzone Staff| Eni Starts New Production Well Offshore Angola Eni has launched a new production well in the Vandumbu field offshore Angola. Eni S.p.A. has launched a new production well in the Vandumbu field offshore Angola, the Italian oil and gas company announced Thursday. The start-up of the VAN-102 well, located about 217 …
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Oil Holds Gain Near $52 by Bloomberg|Heesu Lee Oil held gains near $52 a barrel on optimism the OPEC+ coalition's production curbs will clear a supply glut. (Bloomberg) -- Oil held gains near $52 a barrel on optimism the OPEC+ coalition’s production curbs will clear a supply glut that’s already showing signs of decreasing. Futures …
Aker Bullish on Offshore Ghana by Matthew V. Veazey|Rigzone Staff Phased development could deploy several production units, says CEO. Aker Energy, which operates the Deepwater Tano Cape Three Points (DWT/CTP) block offshore Ghana, reported Thursday that it will soon complete a successful appraisal well drilling operation in the block’s Pecan …
Talks Underway to Build Gas Pipeline to Egypt by Bloomberg|Mirette Magdy| (Bloomberg) -- Talks are in progress to build an underwater natural gas pipeline between Israel and Egypt, part of efforts to transform the eastern Mediterranean into an energy export hub on Europe’s doorstep, Israeli Energy Minister Yuval Steinitz said. Israeli …
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Nigeria Records 9% Daily Crude Oil Production Upward Swing in 2018 … As Baru Reels Out Scores of NNPC’s Milestone Achievements in Outgone Year Nigeria’s crude oil daily production recorded an upward swing of about 2.09million barrels in outgone 2018, translating to a 9 per cent increment, compared with the 2017 average daily …
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$123B of Offshore Projects May be Sanctioned in 2019 by Andreas Exarheas|Rigzone Staff $123 billion of offshore projects could be sanctioned in 2019 if Brent rebounds to $60 per barrel and further cost reduction efforts are successful on current non-economic projects up for sanctioning. $123 billion of offshore projects …
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Oil Heads for Biggest Weekly Gain Since 2017 by Bloomberg|Heesu Lee Brent crude heads for its biggest weekly gain since July 2017 as OPEC's production cuts outweigh concerns over the health of the global economy. (Bloomberg) -- Brent crude headed for its biggest weekly gain since July 2017 as OPEC’s production cuts outweighed concerns …
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