NIGERIAN OIL AND GAS INDUSTRY|PHOTOS,INFO,ETC.

[Naijaborn]

Originally Posted by Akwafinaa

Imagine Nigeria with out Oil! Somalia probably will be better than this us.

Oh the Irony.....
Actually, without the oil, Nigeria would be Now, be on a Latin American development level/Scale

[HerachioBlo]

without oil we would be better off because without oil we were better off. oil created a culture of corruption where government because a place to cash in and thus the interested parties in theft killed and maimed there way to the top and amassed wealth so enormous you have to be corrupt to even contend with them or mark zuckerburg. oil didn't do anything for nigeria and the amount of money we're making from oil is small compared to our population and needs (whom stopped paying taxes because oil made it a secondary thing for past governments) oil has killed us, without oil we would have been closer to south africa in development.

minerals aren't money. they make 4 (maximum) foreign companies and politicians rich but nobody is producing anything and it shows. we had pyramids of peanuts before oil in excess. we were ahead of south korea without oil. I feel the delta should be allowed to keep all it's oil and everyone else actually develop themselves. Germany has no oil.

[èđđeůx]

Nigeria’s Crude Production Hits 2.48m bpd

Nigeria’s crude oil production has risen significantly to peak at 2.48 million barrels per day (bpd), said the Group Managing Director (GMD), Mr. Austen Oniwon

He noted that the current production surpassed the 1.4 and 1.5 million bpd the country tried to maintain at the height of militancy.

He said: “As at today, at 2.48million bpd, which is far, far away from the period when we were doing 1.4 to 1.5million during the period of militancy, there is no question about not meeting our quota. So I think we are doing well and definitely, we are meeting our quota.”

He argued that fears expressed over the country’s ability to meet its OPEC quota on account of current security challenges were over exaggerated.

“I think we should not over hype the insecurity issue in Nigeria, the production has gone up and a lot of production is coming from the deep offshore.

“As of today, we are doing over 700,000 bpd from offshore locations, while we are trying to bring back all the land locations that were abandoned and destroyed during the militancy period,” he said.

This Day

[èđđeůx]

FG to introduce expatriate quota management
http://www.vanguardngr.com/2012/06/f...ta-management/

The Nigerian Content Development and Monitoring Board, NCDMD, has disclosed plans by the Federal Government to introduce an Expatriate Management Quota, EQM, to regulate the use of foreigners for jobs that could be performed by Nigerians in the oil and gas industry.

The idea for the EQM, the statement noted, is geared towards ensuring industry compliance with Section 33 of the NOGIC Act, as well as minimizing incidents of abuse and ensure optimal knowledge transfer to Nigerians from enforcement.

Meanwhile, a new partnership being forged by the Nigerian Content Development and Monitoring Board, NCDMB, and the Department of Petroleum Resources, DPR, will ensure that compliance the Act by operators and service companies will be a key condition for participating in bid rounds and securing licenses, permits and approvals in the industry.

The Management of the two agencies, who agreed to ensure this at a meeting in Lagos on Thursday, also set up a joint committee to design an interface model with regard to common mandates related to Nigerian content development in the industry.

Among other things, the committee will develop procedure for operationalizing sections 3 and 7 of the NOGIC Act, which provides that compliance with the provisions, promotion of Nigerian Content development and submission of Nigerian Content Plan will constitute conditions for the award of licenses, permits and any other project in the industry. DPR handles bid rounds and grants licenses and permits, which producing and service companies need to operate in the petroleum industry.

The committee is also to address the increasing incidence of staff disengagement by operators and design partnership model for critical information sharing between DPR and NCDMB, to facilitate effective regulation of the industry.

NNPC, Shell to increase NPDC production to 250,000 bpd
http://www.vanguardngr.com/2012/06/n...to-250000-bpd/

The Nigerian National Petroleum Corporation, NNPC, and the Shell Petroleum Development Company, SPDC, have agreed to turn the Nigerian Petroleum Development Company, NPDC, to a world class exploration and production company.

Speaking after a tour of the Shell Training Technology Centre at The Hague, the Group Managing Director of the NNPC, Mr. Austen Oniwon, expressed the readiness of the Corporation and SPDC to grow the NPDC, the upstream arm of the NNPC, to an enviable height in the global hydrocarbon industry.

“We believe that in less than 50 years from now, NPDC will become a world class exploration and production company by producing 250,000 bpd in 2015,” the GMD enthused.

In his remarks, the Director Upstream International, SPDC, Mr. Andy Brown, said Shell is committed to the partnership with the NNPC, adding that going forward the joint venture partners will explore ways to develop domestic gas for the Nigerian and global market.

[èđđeůx]

FG, Oil Firm to Establish 2 Refineries Worth $4.5bn
http://www.thisdayonline.com/

The Federal Government has signed a Memorandum of Understanding (MoU) with the Petroleum Refining and Strategic Reserve Limited (PRSR), a renowned America-Nigeria joint venture, for the construction of $4.5 billion two modular refineries in the country.

Each of the refineries, expected to be completed and launched within 12 to 13 months, would refine between 30,000 and 60,000 barrels per day (bpd) of crude oil, and produce five million litres of petrol, diesel, kerosene and LPFO per day.

Minister of Trade and Investment, Olusegun Aganga signed on behalf of the federal government while the chairman of PRSR, Chief Edozie Njoku, endorsed for the company at a brief ceremony held at the ministry’s conference room in Abuja.

In his remarks, Aganga said the new agreement was part of the government’s National Industrial Revolution Plan aimed at ending the exportation of raw materials and jobs from Nigeria to the West, while encouraging the transformation of the raw materials and exportation of finished goods, which add value to the economy.

[èđđeůx]

Kaduna refinery now produces 3.5m barrels daily, says MD
http://ngrguardiannews.com/index.php...ess&Itemid=562

THE acting Managing Director of Kaduna Refining and Petrochemical Company (KRPC), Alhaji Idi Muktar, has said that the facility has been producing 3.5 million litres of petroleum products daily since its turnaround maintenance was effected, representing 70 per cent of its total capacity.

He told newsmen in Kaduna at the weekend that textiles, soap, detergent and other industries, which depended on the by-products of the refinery, may soon bounce back.

According to him, “this refinery is capable of producing 16 by-products from the refining of our crude oil and imported ones, but unfortunately with the closure of the refinery for almost five years, these industries had no choice but to shut down operations."

“The good news now is that we have produced enough to start supplying them on a sustainable basis. We now have enough Kero-Solvent, a clear liquid consisting of a mixture of hydrocarbons for detergent industries.

“We are just waiting for permission to start allocating them. Also, our Liquefied Petroleum Gas (LPG) plants in Kaduna and environs would start getting their supply from here."

“We also have plenty stock of asphalt for road construction and sundry services. The textiles industries in Kaduna that have been shut down because of power problems should breath back to life because we can now supply them with the much needed Lou Pour Fuel Oil (LPFO). Furfural, much demanded in the solvent and lubricating industries is also now available,” Muktar said.

[Håkønljzberg]

Nigeria Hits Record High Oil Output

Nigeria's crude oil production hit a record high of 2.7 million barrels per day on Wednesday, the state-run oil company said on Thursday.

The results come despite ministers and oil companies saying recently that oil theft had caused output to fall.

"I am glad to report to you that in crude oil production, yesterday, we recorded an all time high of 2.7 million barrels. This has not been recorded before," Andrew Yakubu, Managing Director of the Nigerian National Petroleum Corp (NNPC), said in a statement, according to Reuters

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[megacity]

Eton Group to Fund $1.7bn Greenfield Refinery in A’Ibom
09 Sep 2012
By Paul Obi




As Nigeria continues to grapple with the challenges associated with petroleum products distribution, Eton Group in conjunction with Qua Petroleum Refinery Ltd is to invest about $1.7 billion in the construction of a greenfield refinery in Akwa Ibom State.
Speaking at the signing ceremony of the agreement in Abuja, Director of Eton Finance Private Ltd, Allen Rennie, said when operational, the refinery will produce about 100,000 barrel per day.

He explained that, “the financing by the Eton Group is for $1.7 billion, while $1.4 billion represents funds for the re-engineering and construction of the export designated refinery for Qua Petroleum Refinery.”

Rennie, who stated that $300 million had been earmarked for start-up, operations and feed stock, maintained that “the financing is in form of joint venture funding with both companies working together to realise the goals of the project.”

The deal will complete all financial and administrative formalities within the next two months, after which, re-engineering, approval for fabrication and construction phases will be provided before the end of the year.

Also speaking, representative of Qua Petroleum Refinery, Essien Ekanem, said when approval is received from the Directorate of Petroleum Resources (DPR), the construction of the refinery is expected to last 18 to 24 months, with first production billed for late 2014 or early 2015.

Ekanem told journalists that the refinery will be constructed with the hope of producing approximately 750 direct jobs with 4,000 to 7,000 jobs created externally through various support functions.

When fully constructed, the refinery has a designed capacity to produce LPG, petrol, kerosene, diesel, heavy fuel oil, lubricating oils, greases and bitumen.

Both parties explained that notwithstanding the prevailing security challenge in the country, the location of the refinery in Ibeno Local Government Area, Akwa Ibom State will not in any way hamper the prospect of the project.

Eton Group, a major financier of the project has presence in the USA, Malaysia, Japan, UK and operate in Nigeria under the auspices of the Niger-Delta Refinery and Petrochemicals Company Ltd.



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[Rossike]

Originally Posted by HerachioBlo

without oil we would be better off because without oil we were better off.

No we weren't. Before oil receipts started coming in we had just one or two universities compared to 120 today. We generated under 500 mw of electricity compared to 5,000 today and rising... We had very little by way of roads, cars were only for the rich, and education was a dream only few could attain.

Much of the oil money may have been mismanaged, but there's no doubting that it contributed to whatever state of development we have today (which is NOT negligible).

[megacity]

Firm set to establish $10bn refinery in Bayelsa
September 20, 2012
By Godfrey Bivbere & David Ebeatarhe-Sagua



A Nigerian firm, Epic Refinery and Petrochemicals Company Nigeria Limited, in conjunction with its foreign partners, Sino Asia Energy Company Limited, is set to commence construction of a $10 billion refinery with a daily production capacity of 100,000 barrels refined products at Oporoma, Bayelsa State.

Disclosing this in Lagos, Managing Director of Epic refinery, Sir Barango Mathew Wenke Jr., said that preliminary work at the 1,000 hectares of land has already commenced, awaiting approval from the Department of Petroleum Resources (DPR) for actual construction to begin.

The Epic refinery boss while making a presentation to DPR for license consideration for the refinery, noted that they have put all necessary machinery in place to complete the construction work on the refinery 24 months from the date they get their license from DPR.

He explained that while SAE Group is expected to carry out the construction work, the HSBC Global, will be providing the needed funds. According to Wenke, HSBC will provide additional $20 billion for investment in the upstream sector of the oil and gas industry after the completion of the construction of the refinery.

He said this will include “the buying over of choice oil blocks,” establishment of retail outlets, etc. while the $10 billion will be used for the construction of the refinery, gas plant and a petrochemical plant.

He explained that they are holding talks with some local banks that would warehouse the funds before construction begins.





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[megacity]

Gulf of Guinea to establish $700m methanol plant in Nigeria
November 19,2012
by Modestus Anaesoronye



Gulf of Guinea Oil Exploration Limited (GGOEX) has announced the establishment of a $700 million (N109.02 billion) methanol plant in Nigeria in 2015. The plant, with a capacity of 850,000 metric tonnes of Methanol productions annually will be the largest in West Africa. The company said it has selected the Mitsubishi Methanol Process (MMP) as process technology for the establishment of the plant.

The “Delta Methanol Plant” has a nameplate capacity of 2,500 metric tons of Federal Grade AA Methanol per day which is a key product for the chemical and petrochemical industry in the production of Acetic Acid (solvents), MTBE (octane enhancer), Formaldehyde (resins, adhesives) and others. The new plant is expected to come online in 2015.

The project will be the first commercial-scale installation of the MMP process in Methanol production technologies in West Africa and would be located at the Gas Industrial park in Delta State. The cost of the project will debt-equity financed by International Financial Corporation (IFC) and fund syndication from local banks.

GGOEX is currently processing a Due Diligence Assessment with the Gas Aggregation Company of Nigeria (GACN) and discussions with the Federal Government of Nigeria are on-going.

The project is expected to enhance the monetization of Nigeria’s huge Gas potentials. Project Co-coordinator, Emmanuel Ejemurua, an engineer disclosed that the objective is to develop, own and operate Nigeria’s first methanol manufacturing and exporting plant, in accordance with the aspirations of Nigeria’s Gas revolution for the diversification of the country’s economy and development of midstream industries from gas resources.

He also stated that global demand for methanol was growing at around 4 percent annually. “The Delta Methanol Plant is ideally located to supply its major export markets in Europe and expectations are high that it will produce a competitive product, bring added value to society and further contribute to industrial growth in Nigeria.”

GGOEX is an Integrated Energy Company established to take advantage of the opportunities available in the Gulf of Guinea by engaging in the exploration, development and production of Gas Assets in established and emerging frontiers in the Gulf of Guinea.




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