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Nigeria’s deepwater operations have generated revenue exceeding $180 billion following industry players’ capital investment in excess of $65bn with the potentials for growth amidst untapped abundant opportunities in the sector.
Read more: https://www.dailytrust.com.ng/nigeria-earns-over-180bn-from-deepwater-operations.html
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Nigeria plans to almost double oil production and triple its refining capacity within six years, reviving previous pledges that turned out to be too ambitious.
The OPEC member is looking to pump 4 million barrels a day by 2025 and increase refining capacity to 1.5 million barrels daily, Maikanti Baru, managing director of state-owned Nigerian National Petroleum Corp., said at a conference Thursday in the capital, Abuja. “Nigeria needs to unlock new barrels as quickly as possible,” he said… More details through: https://www.bloomberg.com/news/articles/2019-04-25/nigeria-revives-plan-to-double-crude-oil-output-triple-refining Shell Petroleum Development Company plans to invest about $15 billion in oil and gas projects in Nigeria over the next five years, Lagos-based newspaper ThisDay reported, citing managing director of the unit, Nosa Okunbor.
The company operates under a joint venture between the Nigerian National Petroleum Corporation, Royal Dutch Shell Plc, Total Exploration and Production Nigeria Ltd. and Nigerian Agip Oil Company Ltd., according to its website. Shell has a 30 percent stake in the business… More details through: https://www.bloomberg.com/news/articles/2019-04-06/shell-venture-set-to-invest-15-billion-in-nigeria-thisday-says Dangote’s 650,000 barrels per day refining project in Nigeria, which is expected to start up in late 2022 is leading the charge for $30 billion investment push in Africa’s logistics, distribution, storage terminals, import facilities and retail marketing of the downstream sector…
More details through: https://businessday.ng/energy/oilandgas/article/dangote-refinery-leads-africas-30bn-downstream-investment-push/ Royal Dutch Shell Plc’s Nigerian unit agreed a $200 million deal with United Bank for Africa Plc to help its local vendors and suppliers access project finance.
This latest deal brings Shell’s Nigerian contractor support fund to $2.4 billion. The fund can be accessed by contractors who have a valid purchase order and meet the bank’s risk assessment criteria, Shell said… More details through: https://www.bloomberg.com/news/articles/2019-03-24/shell-uba-sign-200-million-nigerian-contractor-support-deal?srnd=premium-africa The Republic of India is sourcing about 10 per cent of its energy requirement from Nigeria, the Indian High Commissioner to Nigeria, Abhay Thakur, stated on Tuesday. He disclosed this during his visit to the Group Managing Director of the Nigerian National Petroleum Corporation, Maikanti Baru, at the headquarters of the NNPC in Abuja…
More details through: https://punchng.com/india-sourcing-10-energy-requirements-from-nigeria-envoy/ Nigeria and Morocco have completed the feasibility study for the construction of the 5,660km Nigeria-Morocco Gas Pipeline and the facility will supply gas to at least 15 countries in West Africa, the Group Managing Director of the Nigerian National Petroleum Corporation, Maikanti Baru, announced on Monday…
More details through: https://punchng.com/nigeria-morocco-gas-pipeline-to-supply-15-countries/ Global shipbuilding firm, Samsung Heavy Industries (SHI) has committed over $400 million as tax revenue and investment in Nigeria’s oil and gas sector. The company said it has been investing the money since it was awarded the contract to build the Floating Production Storage Offloading (FPSO) unit for the 200,000 barrels of crude oil per day Egina deepwater field…
More details through: https://www.dailytrust.com.ng/samsung-invests-400m-in-nigerias-oil-gas-sector.html French oil group Total will approve plans to proceed with the Ikike project in Nigeria in the coming months, and also aims to expand its liquefied natural gas (LNG) project in the country, CEO Patrick Pouyanne said on Monday. Total is one of the strongest players in the African oil sector, holding more proven reserves on the continent than any of the other top global oil companies…
More details through: https://af.reuters.com/article/nigeriaNews/idAFL8N1ZL3N6 Nigeria may soon get its first ocean terminal that will facilitate oil and gas trade. The terminal, which will be in Akwa Ibom State, where its promoters have acquired 245 hectares, of waterfront land for the project. The terminal is expected to help investors in the shipping of oil and gas vessels…
More details through: http://thenationonlineng.net/nigerias-first-ocean-terminal-coming/ |
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