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Tuesday, April 23, 2019
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There are palpable fears that the nation will no longer have a workable budget as from tomorrow (Friday) following the apprehension that the 2017 budget may not be laid and passed into law today. The life span of the 2016 budget which was signed into law by President Muhammadu Buhari on May 6, 2016 will elapse tomorrow, May 5. The implication...
Hunter Group ASA has agreed to acquire a 100% stake in Dwellop AS for a purchase consideration of $21.79m, which will be funded through a combination of cash and equity. Scheduled for completion by the end of this month, the transaction will allow Hunter Group to strengthen its service portfolio. Paragon Industries Inc has merged with the US business of OEG...
The presidency on Wednesday said the advice by eminent citizens that President Muhammadu Buhari should proceed on another medical vacation on account of his ill-health was being taken into consideration and will soon be yielded to. However, it debunked speculations making the rounds that President Muhammadu Buhari may have become incapacitated to the point that he is being fed through...
Statoil has transferred the operatorship of the 482km subsea Polarled pipeline to Norwegian state-owned company Gassco. The pipeline runs between the Aasta Hansteen field in the Norwegian Sea and Nyhamna in Møre og Romsdal. The original investment budget for the pipeline project stood at nearly Nkr11bn ($1.2bn). However, when it is handed over to Gassco, the investments have been reduced to...
Petroleum Development Oman (PDO) has awarded two key contracts valued at around OMR300mn or approximately $779mn to Omani businesses for work in its operations in northern Oman. Under the terms of the deals, off-plot mechanical work will be carried out by local community contractor (LCC) Seeh Al Sarya Engineering at PDO oilfields at Fahud, Lekhwair and Yibal and by Galfar...
Ibe Kachikwu, Minister of State for Petroleum Resources, has said that state-owned refineries would have new investors in September, this year. Kachikwu made this known at a news conference on the sideline of the 2017 Offshore Technology Conference (OTC) in Houston, U.S. on Wednesday. He listed the refineries as Port Harcourt Refining Company (PHRC); Warri Refining and Petrochemicals Company (WRPC), and...
Qatargas recently delivered the inaugural cargo of liquefied natural gas (LNG) to China National Offshore Oil Corporation's (CNOOC) Yuedong LNG terminal. The LNG cargo, delivered on board the Qatargas-chartered Q-Flex LNG vessel Al Kharaitiyat, was used to safely commission CNOOC’s latest LNG terminal. Commenting on the occasion, Khalid Bin Khalifa Al-Thani, CEO, Qatargas said: “Qatargas is delighted to supply the commissioning...
Iranian Oil Minister Bijan Namdar Zanganeh has said Qatari officials have called for establishing a joint technical committee to coordinate on the volume of gas production from the South Pars gas field located on the two countries’ maritime border.Speaking to reporters on the sidelines of the 22nd Iran international Exhibition of Oil, Gas, Refining and Petrochemicals in Tehran on...
here may be no end in sight to the myriad of challenges facing Nigeria’s oil industry as both the federal government and the international oil companies, IOCs, are still at loggerheads over the exact amount involved in crude overlift. This is coming at a time the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said issues surrounding production sharing...
In reaction to the recent unfavourable rating on the ease of doing business in Nigeria whose ports have been declared as the costliest places to do business in the world, plans are being finalized to establish the operational model of a National Single Window platform to improve trade facilitation in line with international best practices. Due for operational launch in...
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