Petroleum Industry

News : Petroleum Industry

Following a threat yesterday by the Movement for the Emancipation of the Niger Delta (MEND), to attack oil pipelines in the next 30 days to prove it had not received payment from the government to end its campaign, the Nigeria National Petroleum Corporation (NNPC) has issued a statement confirming that it did not make the payment. (AllAfrica)

Govement for the Emancipation of the Niger Delta (MEND) has disassociated itself from the claim by the Nigerian National Petroleum Corporation (NNPC) that it paid $12million to militants for pipeline protection. (AllAfrica)

THE Federal Government, yesterday, barred 16 tank farms in Lagos from using the bays to take delivery of imported petroleum products on account of the traffic jam caused by articulated tankers loading from the affected depots. (AllAfrica)

Current probe of the Nigerian National Petroleum Company embarked by the House of Representatives will at least expose the immediate past president of Nigeria, Olusegun Obasanjo, and confirm the allegations of looting of public funds against him. (AllAfrica)

The Speaker of the House of Representatives, Mr. Dimeji Bankole, warned yesterday that the current crisis in the Niger Delta region was capable of consuming the whole country and, therefore, stressed the need to find out what happened to the revenue emanating from the area over time. (AllAfrica)

The Movement for the Emancipation of the Niger Delta (MEND), yesterday, dismissed the claim by the Nigerian National Petroleum Corporation (NNPC) that it paid N12 million per month to militants as protection fee when it carried out repairs on the damaged Chanomi Creek oil pipeline in Delta State, some months ago, saying the money was paid to a gang of criminals and not militant freedom fighters. (AllAfrica)

Minister of State for Energy (Petroleum) Mr Odein Ajaumogobia (SAN) yesterday said there were lapses in the administration of oil and gas industry in the country and that the process adopted in the award of oil blocs was not sacrosanct. (AllAfrica)

Barely 24 hours after its Group Managing Director, Abubakar Yar'Adua, told the House of Representives Committee that the corporation paid $6 million to militants in order to gain access to the damaged Chanomi oil pipeline in Delta State to effect repairs, the Nigerian National Petroluem Corporation yesterday denied making such payment. (AllAfrica)

The management of the Nigeria National Petroleum Corporation (NNPC) yesterday denied paying $6m to militants in the troubled Niger Delta region, stating instead that its commitment to the empowerment of communities in its area of operations is a way of sustaining its services to the people. (AllAfrica)

The Chairman, Gas Monitoring Committee of the Revenue Mobilisation, Allocation and Fiscal Commission, Emmanuel Nsa yesterday revealed that Nigeria loses an estimated $2.5 billion annually to gas flaring aside its negative environmental implication on the inhabitants of the oil and gas area. (AllAfrica)

The Federal Government is considering building more refineries to ensure the availability of adequate petroleum products in the country, it was revealed yesterday. (AllAfrica)

Are we managing our petroleum resources well? Are there wastages in the system? Are our processes complete and sacrosanct?" These were the questioned posed by the Speaker of the House of Representatives, Hon. Dimeji Bankole, when he declared that oil was one of Nigeria's major problems. (AllAfrica)

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Engineer Abubakar Lawal Yar'Adua says government is considering building additional refineries in the country, aimed at deriving the full potential of the nation's hydrocarbon resources. (AllAfrica)

South African motorists might be able to breathe a little easier from next month as the price of petrol and diesel is set to decline by about 25 cents and 15 cents respectively. (AllAfrica)

MFV 'Holmatindur', the vessel that capsized last week Wednesday at the port of Walvis Bay is carrying 20000 litres (20 tonnes) of oil, which could be potentially hazardous to marine life should there be any leakage. (AllAfrica)

Recent events in the Niger Delta show more than ever before that the Nigerian state has no option than to confront head-on the challenges of underdevelopment and its attendant crisis in the oil-rich region. The Sir Henry Willinks Commission hit the nail on the head as far back as 1958 when it recommended that the Niger Delta should be given special attention because of its difficult terrain. (AllAfrica)

President Umaru Yar'Adua has directed the Petroleum Technology Development Fund (PTDF)to intervene in the development of the Niger Delta by establishing a number of educational institutions in different states within the region. (AllAfrica)

Ijaw Leader and elder statesman Chief E.K.Clark and 30 other elders and opinion leaders have requested the Federal Government and National Assembly to create a separate state, to be called Toru-Ebe, for the Ijaw of Delta, Edo, Akwa Ibom and Ondo States. (AllAfrica)

A consumer of petroleum products in Lagos and Abuja, would think that these products are evenly distributed across the country on account of their steady supply in these two cities. But the reality is that almost all other states are suffering recurring shortages of petroleum products. This is especially so in the states of the north, far South South, South West and South East. Routinely, those states are thrown into petroleum products supply shortages even when the cities of Lagos and Abuja are awash with them. (AllAfrica)

Executive Secretary of the Petroleum Technology Development Fund (PTDF), Kabir Mohammed, yesterday, handed over 13 vehicles to the management of the Petroleum Training Institute (PTI), Effurun-Warri in Delta State to facilitate its operations. (AllAfrica)

STIRLING has signed an agreement construct roads linking Hoima to the oil deposits near Lake Albert, Dan Alinange, the Uganda National Roads Authority (UNRA) spokesman, has said. (AllAfrica)

A chieftain of the Peoples Democratic Party in Delta State, Mr. Sunny Onuesoke, has condemned the Edo State Government for excluding the Itsekiri from the Edo State Oil Producing Areas Development Commission, as the three communities are oil bearing communities. (AllAfrica)

Following its inability to bring down the cost of Automotive Gas Oil (AGO) and diesel, National Union of Petroleum and Natural Gas Workers (NUPENG), has said it may resume its suspended strike on Monday. (AllAfrica)

TWO short-term insurers, at least, have conceded that the credit woes of consumers are beginning to affect their vehicle insurance business, which accounts on average for 15%-20% of total premium income. (AllAfrica)

VEHICLE-tracking company Altech Netstar is taking dramatic cost-cutting measures amid soaring fuel prices. (AllAfrica)

Kenya Oil Company (Kenol), has won the tenders for the supply of crude oil to the country for September (AllAfrica)

The Nigerian National Petroleum Corporation (NNPC) said yesterday that it paid Niger Delta militants $6 million in order to allow it repair the Chanomi Crude oil pipeline in Delta State. (AllAfrica)

The idea of securing military assistance from the United Kingdom and other foreign interests as the next option for the troubled Niger Delta has been described as "unfounded" and "definitely not on the agenda" of President Umaru Musa Yar'Adua. (AllAfrica)

There has been a new twist in the control and ownership of the long anticipated Eldoret-Kampala oil pipeline, with sources confirming to The EastAfrican that contrary to the original plan, Uganda will now only take half of 24.5 per cent stake it was supposed to take in the venture. (AllAfrica)

The Liberia Resource Development Company has disclosed that it has submitted proposal to the Liberian Government and the National Oil Company of Liberia to raise substantial capital for exploration and socioeconomic development and reconstruction in the country. (AllAfrica)

THE scandal of a farmer who fraudulently acquired 12 200 litres of diesel from the National Oil Company of Zimbabwe has been trivialised by the fine of $180 billion imposed last week. (AllAfrica)