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PIB: Your production cost too high, Senate President tells International oil companies PIB: Your production cost too high, Senate President tells International oil companies • Seeks better deal for host communities Share President of Senate, Ahmad Lawan, has expressed concern over high exploration cost being claimed by International Oil Companies involved in joint ventures operations with Nigeria. To mitigate this, he said the National Assembly was determined to ensure that the cost was reduced to a tolerable level in the course of the passage of the new Petroleum Industry Bill (PIB) prese...

International oil companies have expressed fears that proposals in the Petroleum Industry Bill (PIB) will discourage investment in new offshore projects

01/26/2021 | Press release | Distributed by Public on 01/26/2021 01:34 Driving Cost Efficiency, Value Optimsation in Oil Industry Efforts at addressing major challenges being faced by players in the Nigerian oil and gas industry received a major boost last week with the launch of the National Oil and Gas Excellence Centre Lagos to improve safety, optimise value and ensure cost efficiency in the industry, reports Peter Uzoho Last week, players in the Nigerian oil and gas industry received a great relief with the eventual launch of the National Oil and Gas Excellence Centre (NOGEC) Lagos by Pre...

Nana Madwe December 28, 2020 In the past twelve months, the global oil and gas industry has faced significant disruption from COVID-19 and resultant dual supply and demand shocks. In its annual review, Africa Oil & Power (AOP) highlights the key developments that have not only shaped 2020, but also influenced energy investment and policy on the continent in 2021 and beyond. January Africa Oil acquired 50% ownership interest in Petrobras Oil and Gas BV for $519.5 million. The remaining 50% will be retained by BTG Pactual E&P. With a view to extensive deep offshor...

The Programme Director of Citizens Trust Advocacy, a non governmental organi-sation, Barr. Lawrence Dube, has stated the need for Ogoni clean-up exercise to be well managed to avoid crisis in the future. Dube who made this known in a chat with newsmen in Port Harcourt, last week, noted that there was a lot of corruption in the Ogoni clean-up process, adding that “Eleme people also said theirs was badly done”. He said the discovery was made during the NGO’s first phase of community/representative engagement at the state and local government levels. Dube also reiterated the need to build ...