Category Archives: Upstream

Govt, Oil Firms Lose 250,000bpd of Crude Oil to Closure of Trans-Forcados Pipeline

Govt, Oil Firms Lose 250,000bpd of Crude Oil to Closure of Trans-Forcados Pipeline

The federal government and oil firms operating in the western Niger Delta are losing roughly 250,000 barrels of oil per day (b/d) owing to the closure of the Trans-Forcados Pipeline, following a leakage discovered on the facility, THISDAY has learnt. The Trans-Forcados pipeline is the major trunk line in the Forcados Pipeline System with an…

Private equity firms eye Africa for oil investments by first half of 2017

Private equity firms eye Africa for oil investments by first half of 2017

Private equity (PE) firms are readying to deploy capital into the global oil and gas sector with 25% planning acquisitions before the end of the year and 43% by the first half of 2017, according an EY global survey of 100 PE firms active in the sector. With US$971.4b of PE dry powder from June…

New security patrol vessels to guard offshore Agip assets in Nigeria

New security patrol vessels to guard offshore Agip assets in Nigeria

Incat Crowther is pleased to announce the successful completion of the M/V Hezekiah and M/V Lady Dora, two (2) 35 meter offshore security patrol vessels. The vessels are classed by Bureau Veritas (BV) and were constructed by Veecraft Marine in Cape Town, South Africa for an undisclosed client in Lagos, Nigeria. The vessels are slated…

EFCC withdraws charges against Diezani, Aluko; Omokore, others granted bail

EFCC withdraws charges against Diezani, Aluko; Omokore, others granted bail

Justice Binta Murtala Nyako of a federal high court sitting in Abuja has struck out the names of former Minister of Petroleum, Mrs. Diezani Alison-Madueke, and a businessman, Chief Kolawole Akanni Aluko, from the criminal charges filed against them, ThisDay reports. While Madueke is in the United Kingdom, Akanni -Aluko is said to be at…