Inadequate power, inconsistent policies, bad roads affect oil, non-oil investment – Bakumor

Oil and non-oil waste constitute serious problems in petroleum bearing communities. In this interview with Udeme AKPAN, Mr. Yolo Bakumor, Managing Director, Bayelsa State-based De-Rabacon, the winner of the maiden Shell Outstanding Achievement Prize in the 2018 Shell LiveWIRE Top Ten Innovators Awards, comments on a wide range of issues, including the need for increased…

Nigeria exports N7.3trn crude oil in six months

Nigeria’s crude oil export appreciated by 17.38 per cent to N7.308 trillion in the first six months of 2018 from N6.226 trillion recorded in the last six months of 2017, according to data obtained from the National Bureau of Statistics (NBS). Continue reading Nigeria exports N7.3trn crude oil in six months at Vanguard News.

TOTAL didn’t award FPSO contract to SHI-MCI, but SHIN — Samsung

Contrary to the Lagos Deep Offshore Logistics Base, LADOL, allegation that it jointly tendered with Samsung Heavy Industries, SHI, for Total’s $3.3 billion Floating Production Storage and Offloading (FPSO) contract, SHI, has disclosed that the contract was awarded to Samsung Heavy Industries Nigeria, SHIN. Continue reading TOTAL didn’t award FPSO contract to SHI-MCI, but SHIN…

Global oil industry gasps for $11trn investment

INVESTORS need to invest $11 trillion in oil and gas between now and 2040 in order to meet rising demand in many nations. In his keynote address at the just concluded meeting in Madrid, Spain, HE Mohammad Sanusi Barkindo, OPEC Secretary General, said, “To meet the expected global expansion will require huge investments. Continue reading…