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All posts tagged "petroleum development"

  • Indigenous oil companies boost production as majors retreat

    Nigerian-owned oil companies are boosting their share of the country’s crude output by taking up fields in restive areas as international energy companies retreat, according to a study by Ecobank Research. For more than five decades, Royal...

    • Posted September 20, 2013
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  • Shell reopens 150,000bpd vandalised pipeline

    Royal Dutch Shell reopened its 150,000 barrel per day Trans Niger pipeline in Nigeria, which was shut for nearly two months, it was learnt on Monday. This has lifted crude oil production, which has been fluctuating between...

    • Posted September 18, 2013
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  • Nigeria loses 11.75m barrels of crude in 4 years

    Nigeria lost about 11.75 million barrels of oil from 2010 to 2012, due to crude oil theft, the Group Executive Director, Refining and Petrochemicals, Nigerian National Petroleum Company, NNPC, Mr. Anthony Ogbuigwe, said. Ogbuigwe disclosed this at...

    • Posted July 24, 2013
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  • Power situation worsens as Shell shuts down Afam VI

    Nigeria’s power situation worsened, yesterday, as Shell Petroleum Development Company, SPDC, shut down its 624 Mega watts Afam VI power plant. Shell, in a statement by Mr. Tony Okonedo, Corporate Media Relations Manager, said the shutdown was...

    • Posted July 17, 2013
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  • Oil thievery is adversely affecting Nigeria’s economy – Shell

    The Managing Director of Shell Petroleum Development Company (SPDC), Mutiu Sunmonu has warned that continuous oil theft and pipeline vandalism in the Niger-Delta will continue to have adverse effects on the nation’s economy. Sunmonu, who made this...

    • Posted July 9, 2013
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  • NNPC to acquire divested assets of IOCs

    Nigerian National Petroleum Corporation, NNPC, Monday, said it will acquire the divested assets of International Oil Companies, IOCs, in Nigeria. The NNPC has also borrowed about N224 billion ($1.4 billion) from the international financial market to settle...

    • Posted July 9, 2013
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  • Shell raises alarm over rising crude oil theft spills

    Shell Petroleum Development Company of Nigeria Limited, SPDC, operated Joint Venture, Tuesday, raised an alarm over the rising cases of sabotage on its facilities, saying that it recorded eight incidences of vandalisation on its pipelines at the...

    • Posted July 3, 2013
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  • Oil thieves frustrate efforts to curb $7bn revenue loss

    Crude oil theft, which is denying Nigeria about $7bn in revenue annually, has shown no sign of easing despite stakeholders’ efforts to stop it. In view of its effects on revenue generation and budget implementation, our correspondent...

    • Posted June 30, 2013
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  • New oil site found in Nigeria offshore

    Optimum Petroleum Development Limited and its partner Afren Nigeria have announced that the high impact Ogo-1 well located on the OPL 310 licence offshore Nigeria has discovered a significant light oil accumulation, based on the results of...

    • Posted June 27, 2013
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  • 24 years after oil spillage, Shell builds 6-classroom block for community

    SHELL Petroleum Development Company has built a six-classroom block for Ogodobiri community in Burutu Local Government Area of Delta State, 24 years after the community and eight others were devastated by an oil spill. Vanguard gathered that...

    • Posted June 13, 2013
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