Alphaden Energy & Oilfield Limited has inked a $60 million loan facility deal with the African Export-Import Bank (Afreximbank), for the construction of a 20 million standard cubic feet per day gas processing facility in Bayelsa State, Nigeria. The 7-year term loan agreement was signed by the CEO of Alphaden Energy & Oilfield Limited, Paschal Anyanwu and the director and …

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Warri Zonal Office, on Tuesday, sealed and arrested the operator of an illegal gas outlet in Warri metropolis, Delta State. The unnamed illegal gas outlet is located inside a residential building at Lower axis, Warri South Local Government Area. Officials of the regulatory authority apprehended the suspect and instantly handed him …

The Federal Government has backed the revival of the $1 billion Kaztec Engineering’s oil and gas fabrication yard at Snake Island, Ilashe, Lagos State. Minister of Marine and Blue Economy, Gboyega Oyetola, spoke yesterday in Lagos during an inspection of the fabrication yard, shut down for eight years due to force majeure declared on it by Addax Petroleum, the technical partner. …

There were indications, yesterday, that petrol scarcity has returned to Lagos and its environs as many oil marketers shut their outlets against motorists and other buyers. The scarcity was noticed in Abuja and environs last week, development oil marketers had attributed to bad roads and high cost of diesel for distribution. Vanguard reports that over the weekend, many independent and …

In compliance with the provisions of Section 71 (1) – (10) of the Petroleum Industry Act (PIA) 2021, the Nigerian Upstream Petroleum Commission (NUPRC) has granted a Petroleum Exploration Licence (PEL) to TGS-PetroData Offshore Services Limited (TGS-PD). The PEL is the first under the PIA 2021 and is under the licence agreement which the commission and TGS-PD executed for a …

The Defence Headquarters has said that troops of Operation Delta Safe have uncovered and deactivated 53 illegal refining sites, recovered stolen products and apprehended 19 suspected oil thieves in one week. Briefing newsmen on the operations of the Armed Forces of Nigeria across the country on Thursday in Abuja, the Director, Defence Media Operations, Major General Edward Buba said the …

Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN) in Rivers State, Dr Joseph Obele, has called on the Nigerian National Petroleum Company Limited (NNPCL) to tell Nigerians the truth about the continued payment of subsidy for premium motor spirit (PMS) in the country. In a statement made available to newsmen in Port Harcourt, Rivers State yesterday, Obelle said …

The Senate has ordered a comprehensive probe into the activities of security forces and organised groups employing sophisticated techniques to steal crude oil in the country. This decision was prompted by a motion put forth during Tuesday’s plenary session by Senator Ned Nwoko (PDP, Delta North), who reeled out data on what Nigeria loses to pipeline vandalism and oil bunkering. …

Six petrol retail outlets and an illegal gas refilling plant in Uvwie and Udu Local Government Areas of Delta State were on Tuesday sealed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Warri Zonal Office. The NMDPRA Head of Operations in Warri office, Mr Goziem Chukwurah, led a surveillance team of the regulatory authority to seal the erring …

Household kerosene prices surged by 57.18 per cent, reaching N1,272.40 per litre in August, according to the National Bureau of Statistics (NBS). The PUNCH report that NBS’ National Household Kerosene Price Watch noted that the sharp increase from last year’s N809.52 in August 2022 highlighted escalating energy costs. The report revealed an uptick on a month-on-month basis, with the average …