Category: Energy/Power

Nigerian Content scopes for new and ongoing oil and gas projects will not be reduced because of the substantial drop in crude oil prices, the Executive Secretary Nigerian Content Development and Monitoring Board (NCDMB), Mr. Denzil Kentebe has confirmed. The Nigerian Oil and Gas Industry Content Development (NOGICD) Act spelt out percentages that must be…

Operatives of the Delta State Command of the Nigeria Security and Civil Defence Corps on Saturday uncovered a warehouse used by oil thieves. Three suspects, according to the State Commandant of NSCDC, Mrs. Beatrice Irabor, were arrested and 250 drums of adulterated oil spinster inside the warehouse located in Warri South Local Government Area. Irabor,…

Devaluation is the word of the day in oil exporting countries. Whether it is the Nigerian naira, the Venezuelan bolívar, or the Russian rouble, low oil prices are wreaking havoc in oil exporting economies and on their national currencies. In most cases the scenario is similar: over the past decade, oil exporting countries used excessive revenues…

ABUJA, February 15, 2016 – Germany would like to accelerate its supply of Nigerian LNG, especially for its shipbuilding industry, a trade delegation told Minister of State for Petroleum Resources Ibe Kachikwu on Thursday. The group of industrialists, headed by Beckmeyer, met with Kachikwu at the headquarters of state-run Nigerian National Petroleum Corporation in Abuja.…

Crude Oil– Bane of Nigeria’s economic growth Credits: Hannatu Musawa; The Nation Newspaper Global oil prices have been fallen sharply over the past seven months, leading to significant revenue shortfalls in many energy exporting nations. From 2010 until mid-2014, world oil prices had been fairly stable, at around $110 a barrel. But since June last year,…