Tag: Oil Exploration

Federal Government Claims To Have Discovered Crude Oil In Borno State

After several months of exploration activities, Borno State has joined the league of oil-producing states in Nigeria, as the Federal Government, yesterday, said crude oil had been discovered in the state. Permanent Secretary of the Ministry of Petroleum Resources, Mrs. Jamila Shua’ra, disclosed this during the agreement signing ceremony for[Read More…]

Away From Lake Chad, Buhari Orders NNPC To Commence Oil Exploration In Benue

President Muhammadu Buhari has ordered the Nigerian National Petroleum Corporation, NNPC, to commence the search for crude oil and other hydrocarbon exploratory activities in the Benue Trough. According to a statement by the NNPC, Group Managing Director of the NNPC, Mr. Maikaniti Baru, disclosed this while receiving a delegation from[Read More…]

“Intensify The Tempo On Crude Exploration” – Buhari Gives NNPC Marching Orders To Fine Oil In Northern Nigeria

President Muhammadu Buhari has ordered the Nigerian National Petroleum Corporation, NNPC, to increase the tempo on crude oil exploration activities in the north eastern part of the country. Group Managing Director of the NNPC, Mr. Maikanti Baru, who disclosed this on Monday, when Governor Mohammed Abubakar of Bauchi State, paid[Read More…]

Oil Exploration In Chad Basin Nigeria’s Top Priority – Says Ibe Kachikwu

Ibe Kachikwu, minister of state for petroleum resources, says the federal government remains resolute to its commitment on exploration of oil and gas in the inland basins, especially Chad Basin and the Benue Trough. In a statement issued by Garba Deen Muhammad, Kachikwu, who doubles as the group managing director[Read More…]

North To Begin Oil Exploration Next Year As Buhari’s Allocation Of N39.4b For The Region In 2016 Budget Worries Nigerian

The New Nigeria Development Company (NNDC), a business conglomerate of the 19 northern state governments, has disclosed plans to commence exploration of oil and gas in the Lake Chad area of North-East. “Oil and gas blocks have been discovered in the North. But for security challenges in the North-East, exploration[Read More…]

Lagos To Start Oil Exploration In 2015

The exploration of the Aje Field  Offshore Lagos will  commence  in 2015 as the joint venture partners on the Aje Field have taken the final investment decision on the exploration of the field. Yinka Folawiyo Petroleum Company Limited took the FID to develop the first phase of the Aje shallow[Read More…]

Nigeria Loses N678.5m Daily As Shell Declares Force Majeure

Shell Petroleum Development Company of Nigeria Limited, SPDC, has declared force majeure on its EA field in the Niger Delta, shutting in about 40,000 barrels of crude oil per day causing Nigeria to lose $4.24 million (about N678.46 million) daily. In a statement by Precious Okolobo, Corporate Media Relations Manager, Shell[Read More…]

Cheta Nwanze: Nigeria’s First Oil War

Today we will be discussing the first oil war, which was fought in the 19th century, in the area that became Nigeria. All through the 19th century, palm oil was highly sought-after by the British, for use as an industrial lubricant for machinery. Remember that Britain was the world’s first[Read More…]

Nigeria Oil Reserve Drops From 40 billion To 35 bn Barrels

The Department of Petroleum Resources (DPR) said on Tuesday that Nigeria oil reserves had dropped from 40 billion to 35 billion barrels. A Director in the department, Mr George Osahon, made this known in an interview with newsmen at the ongoing Oil and Gas Seminar in Abuja. Osahon attributed the[Read More…]

Funds Shortage: Oil Exploration In Northern Nigeria Grinds To A Halt

By Misbahu Bashir Insecurity, funds shortage, others stall Chad Basin, Benue Trough oil exploration. An oil exploration project run jointly by the Northern states is being threatened by shortage of funds, unfavorable regulatory policies, insecurity and ineffective foreign technical partnership. The New Nigerian Development Company (NNDC), which is owned by[Read More…]