Nigeria’ state oil company awards Oando, Oilserv Ajaokuta-Kaduna-Kano gas pipeline project

By Afolabi Oluwaseun A two-party consortium consisting of Oando Plc., in conjunction with its midstream affiliate, Axxela Limited (formerly known as Oando Gas & Power), and Oilserv Limited, has been awarded the engineering, procurement, construction (EPC) mandate for the Ajaokuta – Abuja portion (Lot 1) of the Ajaokuta-Kaduna-Kano pipeline system (AKK Pipeline) by the Nigerian […]

Nigeria state oil company signs contract agreements for 614km AKK project

The Nigerian National Petroleum Corporation (NNPC) has executed contracts for the engineering, procurement, construction, commissioning and financing for Lots 1&3 of the 40inch x 614km Ajaokuta – Kaduna – Kano gas pipeline and stations with a consortium of indigenous and Chinese companies under a 100 percent contractor financing model. Under the terms of the contract, […]

Trade war effect on oil prices to be minor- minister

Suhail Al Mazrouei, U.A.E. Minister of Energy

Suhail Al Mazrouei, the United Arab Emirates energy minister said Tuesday that he is not concerned about the international trade war upsetting the crude oil market as such might not have significant effect on the prices. The minister who said the trade war could affect the cost of drilling, the cost of completion, also admitted […]

Downstream already up in arms over single regulatory commission for industry

Emmanuel Ibe Kachikwu, minister of state for petroleum, and Nigerian National Petroleum Corporation, Maikanti Baru, DG, NNPC

The rationale behind the need for two regulatory commissions instead of the proposed one in the Petroleum Industry Governance Bill (PIGB) is not far-fetched for the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Olufemi Adewole, its executive secretary, , told business a.m. in an interview. Last week the lawmakers passed the Petroleum Industry […]

Natural gas price dips after limited storage decline

Natural gas stocks decreased by 63 billion cubic feet for the week ending March 23, according to the U.S. Energy Information Administration (EIA) on Thursday. Analysts were expecting a storage withdrawal of about 87 billion cubic feet. The five-year average for the week is a withdrawal of 46 billion cubic feet, and last year’s storage […]