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Malaysian FPSO supplier Yinson and Nigerian oil company First E&P have given themselves more time to conclude an FPSO deal. The two parties in June 2018 entered into a Heads of Terms for the purpose of engaging in exclusive negotiations for the potential supply and charter of an FPSO unit to process hydrocarbons from the Anyala & Madu fields under …
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by Bloomberg Heesu Lee | Oil's set for its biggest monthly drop since 2016 as the specter of a slowdown in the global economy haunts the market. (Bloomberg) -- Oil’s set for its biggest monthly drop since 2016 as the specter of a slowdown in the global economy haunts the market while U.S. inventories grow …
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Panoro Energy has plans to use the CTF-4, a 2,000-horsepower onshore rig for the drilling of the Salloum West-1 well (“SAMW-1”) located in the Sfax Offshore Exploration Permit, offshore Tunisia. The oil company has signed a Heads of Terms for the supply of the rig with the Tunisian drilling contractor Compagnie Tunisienne de Forage (“CTF”). …
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… Firm to benefit from DSDP, Crude Oil Term Contracts Freight deals The Nigerian National Petroleum Corporation (NNPC) has announced the re-entry of its subsidiary, NIDAS Shipping Services, into the international shipment of crude oil and petroleum products, seven years after falling out of reckoning in the global oil freighting trade. NIDAS’s re-entry is in …
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The mandatory sea time training programme for 20 cadets sponsored by the Nigerian Content Development and Monitoring Board (NCDMB) started on Monday at Charkins Maritime and Offshore Services Limited, Port Harcourt, Rivers State. The programme is aimed at addressing the deficit of trained cadets in the maritime and oil and gas industries and reduce …
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The Russian Federation and the United Arab Emirates have expressed their readiness to expand their scope of partnership with the Nigerian National Petroleum Corporation (NNPC) in the upstream, midstream, downstream and services sectors to further boost their various economies. Speaking after a working visit to the Group Managing Director of the NNPC, Dr. Maikanti Baru, …
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By Toyin Akinosho The concept of local content grew out of the concern that the oil industry operates as an enclave sector in most hydrocarbon resourced African economies. But in those countries where the oil companies serve as part of the industrial pivot, there’s a good chance that the main actors are independents, …
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by Bloomberg Tsuyoshi Inajima Oil traded near $82 a barrel after President Donald Trump resumed his attack on OPEC. (Bloomberg) -- Oil traded near $82 a barrel after President Donald Trump resumed his attack on OPEC while Goldman Sachs Group Inc. poured cold water on forecasts for $100 crude. Brent futures in London were little …
By Chris Paul Otaigbe The ongoing construction of the Dangote Refinery is proposed to relieve Nigeria of the perennial issue of Fuel scarcity and Fuel subsidy. It is, therefore, supposed to be a thing of joy to the country at large and the surrounding community of its proposed operations. The Nigerian economy has …
The Nigerian Content Development and Monitoring Board (NCDMB) and key players of the Nigerian oil and gas industry have begun to review the existing data on upcoming projects and their Nigerian Content opportunities. The review seeks to update the Compendium of Nigerian Content Opportunities, highlight challenges faced by operators and service providers and proffer …
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