Technical Instructor

• Industry: Advertising
• Career: Unspecified
• Job Location: Abu Dhabi
• Salary: Unspecified
• Experience: 7 - 10 Years
• Job Type: Project Based
• Gender: Any
• Contact No.: 0559024652
• Email Address: prasad.guru123@hotmail.com

Description

One of the leading Recruitment Service in the GCC, is looking for highly qualified and experienced top notch professionals in Oil & Gas project nearly 7-10 years experience, Please apply in confidence with your recent updated resume to prasad.guru123@hotmail.com and only shortlisted candidates will be contacted.

English Language Instructor

• Industry: Oil/Gas/Petroleum
• Career: Unspecified
• Job Location: Abu Dhabi
• Salary: Unspecified
• Experience: Less than 1 Year
• Job Type: Full Time
• Gender: Any
• Contact No.: 0559024652
• Email Address: prasad.guru123@hotmail.com

Description

One of the leading Recruitment Service in the GCC, is looking for highly qualified and experienced top notch professionals in Oil & Gas project nearly 10-15 years experience, Please apply in confidence with your recent updated resume to prasad.guru123@hotmail.com and only shortlisted candidates will be contacted.

Solar best suitable for rural electrification – NASENI

The National Agency for Science and Engineering Infrastructure has described solar energy as the most suitable means of providing electricity to rural communities that are far away from the reach of the country’s power grid.

According to the agency, 60 per cent of Nigerians do not have access to the national grid, and most of those affected are rural dwellers.

The Executive Vice Chairman, NASENI, Mr. Mohammed Haruna, explained that the cost of installing a grid system to some communities was the major barrier to access to the national grid.

Haruni spoke with journalists during a tour of the agency’s solar panel assembly plant in Abuja on Wednesday.

Chevron’s global production, refining margins slide

Chevron Corp, the second-largest U.S. oil company, posted a fourth-quarter profit on Friday that just met Wall Street’s expectations, as refining margins and production sagged around the world.

The company reported net income of $4.93 billion, or $2.57 per share, compared with $7.25 billion, or $3.70 per share, in the year-ago period.

The quarterly profit met expectations of Wall Street analysts, according to Thomson Reuters I/B/E/S.

Oil and natural gas production fell 3.4 percent to 2.6 million barrels of oil equivalent per day in the quarter.

Chevron said rising production in the United States and Nigeria wasn’t enough to offset declining production at legacy fields around the world.

Multinational energy companies like Chevron have had trouble replacing production from older, depleting wells and have spent heavily to stem the tide. Chevron spent $41.9 billion last year on capital and exploration projects, a 23 percent increase from 2012.

OPEC oil output rises in January from 2-1/2-year low – survey

OPEC’s oil output has risen in January from December’s 2-1/2-year low, due to a partial recovery in Libyan supply and higher shipments from Iraq and Iran, a Reuters survey found on Friday.

Output from the Organization of the Petroleum Exporting Countries averaged 29.94 million barrels per day (bpd), up from a revised 29.63 million bpd in December, according to the survey based on shipping data and information from sources at oil companies, OPEC and consultants.

The survey illustrates the potential for OPEC supply to rebound in 2014 if Libya, Iraq and Iran sustain higher output. That could put pressure on oil prices without cutbacks from other members, such as Saudi Arabia.

11 vessels arrive Lagos ports with petroleum products

The Nigerian Ports Authority, NPA, on Friday said that 11 vessels carrying petroleum products had arrived in Lagos ports.

NPA said that the vessels laden, with petrol, kerosene and base oil, were waiting to berth at various terminals at the ports.

The ships position was contained in NPA’s daily publication, ‘Shipping Position’, made available in Lagos.

According to the publication, two other vessels carrying containers are also waiting to berth.

The NPA also said that it was expecting the arrival of 106 vessels from Jan. 31 to Feb. 28.

It said that 44 of the 106 vessels would arrive at the ports with containers, while 21 other vessels would sail in with food items including buckwheat and rice.

It also said that 18 vessels would arrive with petroleum products including base oil, aviation fuel, diesel and kerosene.

The vehicles are expected to arrive at the ports in 16 vessels, while seven vessels will bring in general cargoes including steel products.

URA to collect oil taxes – Kenya

Kenya Revenue Authority said yesterday oil products destined for Uganda will from Monday be cleared by that country’s tax authorities.

This follows the rolling out of the East African single customs territory at the beginning of the year after approval by heads of state summit last November. The new rules requires all the five EAC members to post customs officials at the point of entry of their import goods.

The directive means that oil companies transporting petroleum products to Uganda will now be cleared by the Uganda Revenue Authority and not the Kenya Revenue Authority as is the case under current transit regime.

Angola LNG to produce and trade 5.2 million tons of liquefied gas

The Angola LNG Company will collect, process and trade, each year, about 5.2 tons of liquefied natural gas, besides producing also propane, butane and condensed gas, at the firm’s premises in Soyo Municipality, in the northern Zaire Province.

Angola LNG is one of the greatest and most modern investments of the Angolan government (USD 10 billion), reads a note from the institution, which reached ANGOP last Wednesday.

This project is intended to be a solution for the reduction of carbon emission and it is considered a source of clean energy.

According to the document Angola LNG Company shareholders are Sonangol (22.8%), Chevron (36.4%), BP (13.6%), ENI (13.6%) and Total (13.6%).

Angola is sub-Saharan Africa’s second main producer of crude-oil.

SURE-P graduate internship scheme illegal – Senate

The chairman Senate special ad hoc committee on the Subsidy Re-Investment and Empowerment Programme (SURE-P), Senator Abdul Lingi has described the graduate internship scheme as illegal, adding that the scheme is way of looting government funds.

The committee also decried alleged mismanagement of N1.4 billion Subsidy Reinvestment and Empowerment Programme (SURE-P) meant for graduate Internship Graduate Scheme by ministry of finance underDr. Ngozi Okonjo-Iwella.

Ningi, who walkout the representative of the ministry at the meeting, vowed not to appropriate anything for the SURE-P in 2014 budget.

He also added that the ministry did not have the capacity to run such scheme and promised to talk with the President on the matter.

LEADERSHIP recalls that the ad hoc committee in November opened an investigation into the expenditure of N1.4 billion on the Internship Graduate Scheme which is under the supervision of the minister of finance, Dr Ngozi Okonjo-Iweala.

Although no specific date was given by the senators for the minister to appear before them, they, however, requested her to furnish them with the list of all beneficiaries of the scheme, their locations and contact addresses among others.

In a letter addressed to the finance minister Ngozi Okonjo-Iweala by the committee chair Senator Abdul Ahmed Ningi (PDP, Bauchi), the panel said the ministry expended the said amount between April 2012 to April 2013.

Researchers strategise to convert unwanted carbon dioxide into electricity

Researchers are developing a new kind of geothermal power plant that will lock away unwanted carbon dioxide (CO2) underground – and use it as a tool to boost electric power generation by at least 10 times compared to existing geothermal energy approaches.

The technology to implement this design already exists in different industries, so the researchers are optimistic that their new approach could expand the use of geothermal energy in the U.S. far beyond the handful of states that can take advantage of it now.

At the American Geophysical Union meeting recently, the research team debuted an expanded version of the design, along with a computer animated movie that merges advances in science with design and cognitive learning techniques to explain the role that energy technologies can have in addressing climate change.

Privatized Power Assets: Who Are The New Owners?

Out of the eighteen original unbundled PHCN firms fixed for privatisation, fifteen have now been confirmed with the receipt of take over documents and the physical hand over of assets while three are still pending. Two out of the three, the Afam generating company (GENCO) and the Kaduna distribution company (DISCO); will collect their documents at a later date. With the preferred bidder for the Afam GENCO expected to pay a total of $260m within 6 months, based on a different time-table and the preferred bidder for the Kaduna DISCO, which also has a separate time-table, expected to pay a total of $163m within 6 months. The third, which is the Sapele GENCO, has preferred bidders who have been given an extra three months to complete payment of the balance of $21million of the total bided price of $201million.

Presidency queries PPPRA over alleged N120b subsidy debt

The Presidency has ordered a quick resolution of issues around the delay in the 2014 first quarter fuel importation, **Daily Independent** gathered on Wednesday.
In a swift reaction to Sunday’s warning by the Major Oil Marketers Association of Nigeria (MOMAN) of an impending acute shortage of products, a source at the Presidency told our correspondent that an inquiry has been launched into the allegation as part of efforts to nip the fuel scarcity in the bud.
**Daily Independent** learnt that the Presidency, is looking into the allegation that the Federal Government is owing its members N120 billion debts under the subsidy support fund.
Executive Secretary of MOMAN, Thomas Olawore, had explained that N20 billion of the debt is an accumulated interest on foreign exchange incurred on bringing fuel into the country between third and fourth quarter of last year.

Fuel supply: Tackling demurrage, losses with jetty investment

Infrastructure deficit at the Lagos Port’s  fuel jetties is causing delay in petroleum products’ discharge and huge losses in form of demurrage.  Experts, however, say  new investments will reverse this trend, DAYO OKETOLA writes

With a daily consumption of over 31 million litres of Premium Motor Spirit (petrol) in Nigeria, about 12 trillion litres of PMS is imported into the country annually. Fuel jetties at the Apapa, Lagos Wharf serve as the major entry points for vessels bearing PMS, Automotive Gas Oil (diesel), Dual Purpose Kerosene, and Aviation Turbine Kerosene, among other products.

For instance, the Nigerian Ports Authority, on Tuesday, said about 18 vessels laden with PMS, AGO and DPK are among some other vessels expected to berth at the Lagos pilotage district soon.

But experts said the infrastructure constraint faced by these vessels was huge; adding that the inability of the fuel jetties at Apapa Wharf to accommodate large volumes of fuel imports hindered vessels’ effort to discharge at the port. Due to this, some major fuel importers have over the years developed a preference for discharging their products outside Nigerian waters, specifically at the ports in Cotonou, Niger Republic and Lome, Togo.

Corporate governance as business driver for Seplat

The Enron debacle focused renewed attention on corporate governance and organizational failures and successes. Since then a number of studies have shown that there exists a nexus between positive implementation of corporate governance and company performance with many scholars connecting the outright failure of a good number of blue chip organizations to lack of good corporate governance.

This failure, which translates into an inability of organisations to meet expectations of their various stakeholders and investors have often been traced to weaknesses in internal control, operating system, and a lack of commitment to the highest ethical standards.

Corporate governance refers to the way in which companies are governed and to what purpose.

It is concerned with the practices and procedures for trying to ensure that a company is run in such a way that it achieves its objectives.

‘Flared gas enough to solve Nigeria and Africa’s electricity crisis’

Representatives of Soprise Impact Organisation, an oil and gas consultancy firm based in Europe and the United States, on Monday told the Senate Committee on Gas that Nigeria was wasting about 1.1 million cubic feet of gas daily, which was capable of providing electricity to 20 million houses.

The Chief Executive Officer, Soprise Impact Organisation, Mr. Peter Jensen, lamented that the gas already wasted in the Niger Delta region, if harnessed and processed, would have addressed the power problems of the entire African continent and beyond.

To address the problem, Jensen explained that his firm, which has branches in Norway, United Kingdom and the US, had concluded arrangements to hold a conference on gas in Nigeria on March 12.

He said the forum would attract critical stakeholders in the sector, while experts would speak on the theme: ‘Deepening domestic gas implementation.’

Kerosene subsidy removal: Consumers seek cheaper gas alternative

Consumers have asked the Federal Government to spend the saving on the removal of subsidy on kerosene on making the acquisition of cooking gas kits affordable.

Despite the huge spending on kerosene subsidy, the Chairman, House of Representatives Committee on Petroleum (Downstream), Mr. Dakuku Peterside, recently bemoaned the situation whereby the masses could not buy the product at the regulated price of N40.90k per litre.

Only those who can bear the long queues at the Nigerian National Petroleum Corporation’s outlets and a few other outlets are able to buy the product at the government approved price despite the huge subsidy expenditure over the years.

Without any hope of getting the product at N50 per litre, consumers are envisaging a hard time and lament the lack of financial wherewithal to switch to Liquefied Petroleum Gas as an alternative.

Eighty per cent of Nigerian households depend on kerosene as their cooking fuel, with an average consumption rate of eight million litres per day.

Libyan port rebels see deal possible within weeks

A deal to lift an armed blockade of Libyan oil ports and restart exports could be possible within two weeks, after talks with the government advanced on key demands, a senior leader of the protest movement said.

Abb-Rabbo al-Barassi, prime minister of the self-declared eastern region government, told Reuters that Tripoli and his federalist movement are closing the gap, and a deal to resolve the standoff at oil ports could be weeks away.

“I see progress with the state, the government, the General National Congress assembly,” he said in an interview at the group’s base in Ajdabiya. “I think it won’t take longer than two weeks to reach a deal, God willing. Maybe even less than that.”

The group, led by a former rebel who once battled leader Muammar Gaddafi, seized three major eastern ports in summer to demand a greater share of oil wealth and more regional autonomy, choking off 600,000 barrels per day of oil exports.

Prime Minister Ali Zeidan’s government in Tripoli has been trying to reopen the ports as it faces a budget crunch that risks deepening unrest in the OPEC producer. Oil exports, Libya’s lifeline, have more than halved since summer.

N27.7bn Chad basin oil exploration suffers setback

The Federal Government’s desire to achieve commercial oil production in the Chad Basin this year may not come to fruition, due to insecurity caused mostly by Islamic insurgency under the code name, Boko Haram.

Vanguard learnt that the various technical personnel who provided support services for exploration activities have left the region from fear of being killed, while geologists in the Nigerian National Petroleum Corporation (NNPC), also shunned the volatile Basin in Borno State for fear of losing their lives.

With this insecurity situation, the over N27.7 billion investments may not be realised as scheduled. Vice President Namadi Sambo said last year that oil prospecting in the Chad Basin was yielding promising results, and may lead to commercial exploration of oil and gas this year.

The Vice President, who visited the region, disclosed that the project had gulped about $75 million (about N11.9 billion) in 2012, while another $100 million (or N15.8 billion) was earmarked for it in 2013. “I want to inform you that government is committed to the oil and gas search in the Lake Chad basin,” he said at the palace of the Shehu of Borno, Abubakar Ibn Garbai. Sambo also said three blocks have been identified in the area after series of research.“These blocks have great potential for oil and gas exploration.

Afren hits production target, sees double-digit growth next 5 years

Nigeria-focused oil firm Afren posted oil output slightly above it 2013 target and said it foresaw double-digit production growth over the next five years.

The company expected 2014 gross production of 62,000 barrels of oil equivalent per day (boepd), up on the 59,926 in 2013, but that net production to Afren would stand at 40,000 boepd, lower than the 47,112 boepd in 2013.

The firm said the lower net figure was due to extension work at its Ebok field in Nigeria that would close the site for about 20 days as well as ongoing regional developments in Kurdistan.

The company, whose main producing assets are in Nigeria, but which also operates in Kenya and Kurdistan, said on Tuesday that its Ogo oil discovery in Nigeria, with an estimated 774 million barrels of oil equivalent, was one of the largest discoveries in the world.

The Ogo discovery was made last year and was labeled “giant” by analysts at the time.

The company said in October that output would be at the top end of its range after a step-up in production at its Ebok field in Nigeria, its main producing asset.

Overall, 2013 production came in at the top of its annual guidance of 40,000 to 47,000 boepd.

Afren’s market cap stood at 1.58 billion pounds ($2.62 billion).

Your Cellphone Could Be a Sonar Device

Submarines have used sonar for decades. Bats and dolphins have used it for millions of years. And thanks to a little math, humans could soon be echolocating with their mobile phones.

At the École Polytechnique Fédérale de Lausanne (EPFL), in Switzerland, experts in signal processing discovered a mathematical technique that allows ordinary microphones to "see" the shape of a room by picking up ultrasonic pulses as they bounce off the walls. The work was published in this week's edition of the journal Proceedings of the National Academy of Sciences (PNAS).

Microphone echolocation is harder than it sounds. Ambient noise in any room interferes with the sounds used to locate the walls, and the echoes sometimes bounce more than once. There is also the added challenge of figuring out which echoes are bouncing off which wall.

NNPC must account for missing $10.8bn – TAPAN

The minister finance, Ngozi  Okonjo- Iweala,  must ensure that the Nigerian National Petroleum Corporation (NNPC)  accounts for the alleged missing $10.2 billion.

This is the position of  the Tax Payers Association of Nigeria (TAPAN). The association made its  position known in Abuja, yesterday, through its Board of Trustees chairman, Comrade Valentine Nzekwe, and the president, Mr Phillip Ilukhulo.

The body also  called for the amendment of  Section 85 (2) of the 1999 Constitution which  empowers the auditor-general of the federation or anyone authorised by him to audit “the public accounts of the federation and of all offices and courts of the federation” and submit his report to the National Assembly, but says the office cannot audit the NNPC but can only provide NNPC and similar bodies with a list of qualified external auditors to choose from, guide on fees to pay the external auditors, comment on their accounts and the external auditor’s reports.

According to TAPAN “ the finance minister is a woman of integrity and must therefore ensure they account for it as she promised. She has worked so hard for the nation and we believe she would ensure all the monies are accounted for.

Speaking on the  missing $10.8 billion from the Federation Account, at the Budget presentation last week, Okonjo-Iweala vowed that the Nigerian National Petroleum Corporation (NNPC) must account for the missing fund.

According to her, the  role of the Federal Ministry of Finance is to ensure that the maximum amount of revenue  flows into the Federation Account.

Nationwide fuel scarcity looms as marketers groan over importation

Nigerians may be thrown into a fresh round of acute fuel shortage, Major Oil Marketers Association of Nigeria (MOMAN) said on Thursday declaring that this would be triggered by refusal of the Petroleum Products Pricing Regulatory Agency (PPPRA) in releasing the approval for the first quarter fuel importation.

MOMAN said this through its Executive Secretary Obafemi Olawore in an interview with the News Agency of Nigeria (NAN).

Members of the association, Olawore said, were now on the edge over the inability of the PPPRA to release the importation approval.

“If we don’t get approval on time, it will affect our ability to import products and this will in turn delay distribution of products nationwide.

“The management of PPPRA should release allocations immediately to avoid products scarcity in the country,” he said.

JDR nets deal for Total’s Egina field

UK services player JDR Control Systems has scooped a contract to provide umbilicals and reels for Total’s giant Egina field development off Nigeria.

The Cambridgeshire-based outfit will design and manufacture 20 kilometres of umbilicals and nine reelers for the intervention workover control system at Egina.

Delivery is set for the middle of the year with design and manufacture in the UK.

Earlier this week, Nigeria’s Aveon Offshore won a subsea structures fabrication contract from FMC for Egina. Aveon will supply more than 5000 tonnes of subsea structures which will be fabricated at its yard in Rumuolumeni, near Port Harcourt.

Egina lies about 150 kilometres off the coast of Nigeria within OML 130 in a water depth of up to 1750 metres. First oil is expected in 2017.

South Korean shipyard Samsung Heavy Industries is supplying the $3 billion floating production, storage and offloading unit for the project. It is designed to handle 200,000 barrels per day of oil and 160 million cubic feet per day of gas.

Total operates the field with a 24% interest and is partnered by China National Offshore Oil Corporation (45%), Petrobras (16%), Nigerian National Petroleum Corporation (10%) and Sapetro (5%).

Oil coys’ divestment may lead to massive job cuts

Two multinational oil companies in Nigeria are on the verge of divesting their assets in the nation’s oil-rich Niger Delta area, Daily Trust can report.

But the exercise would leave a bitter taste in the industry as both companies would sack half of their workforce in the country in order to execute the divestment programme.

It was gathered that each of the companies has about 8,000 personnel in its employ, meaning that same figure of workers would be jobless in a few months when the programme is fully implemented.

A source told our correspondent that the companies held discussions with the unions in the oil and gas sector penultimate week but it was inconclusive.

It was gathered that the discussions resumed but the companies were said to have insisted on laying off the workers as part of their asset divestment programme.

The oil unions were said to have been disoriented about the development since they couldn’t get enough capital to buy the assets of the companies in order to save the jobs of their members in the companies.

It was gathered that the planned divestment of assets is not unconnected to the rising incidence of oil theft and harsh business environment in the sector, partly caused by the non-passage of the Petroleum Industry Bill before the National Assembly.
Zonal chairman of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Reverend Folusho Oginni, confirmed that his union is making frantic effort to ward off the mass sack of workers.

He blamed the federal government for the wave of divestment of assets by multinational oil companies in the country as, according to him, it has failed to evolve robust policies in the oil and gas sector as well as create enabling environment for investment to thrive.

Uganda set to sign pact with Tullow to allow for oil production

Uganda has completed negotiations with Britain’s Tullow Oil and its partners and will soon sign an agreement that could pave the way for the start of crude production.

East Africa’s third-largest economy struck hydrocarbon deposits in the Albertine rift basin but commercial production has been delayed and is not expected until 2016 at the earliest.

In a speech at a private function for Tullow late on Thursday and seen by Reuters on Friday, energy minister Irene Muloni said the government would shortly sign the memorandum of understanding (MoU) with Tullow and its partners, France’s Total and China’s CNOOC.

Developing Uganda’s oil fields and building the required infrastructure would cost between $15 billion and $22 billion, although there were plans to try to reduce that, Muloni said.

EMGS and Shell sign global agreement

Electromagnetic Geoservices (EMGS) signed a global framework agreement with Shell International Exploration and Production for the provision of consultancy services.

The range of services covered by the agreement includes survey planning/modeling, EM processing, EM inversion, and integrated interpretation.

Friedrich Roth, VP of Imaging & Integration at EMGS, commented: “We are very pleased to strengthen our service offering to Shell with this framework agreement. Shell is one of the most experienced users of EM technology and the agreement further endorses EMGS’s capabilities in processing and interpretation of 3D EM data.”

Skills shortage: a barrier to oil and gas growth

Despite an overall positive outlook for the oil and gas industry in 2014, senior oil and gas professionals, in response to a survey from DNV GL, have predicted that a deficit of skilled professionals will be the biggest barrier to the growth of their businesses in 2014.

The industry’s shrinking pool of engineering talent has topped industry leaders’ list of professional concerns for a second year running; a trend that is driving up salaries to unprecedented levels in some areas. The respondents to the survey said that the median daily rate they are willing to pay individual contractors in technical areas with a particular expertise shortage is US$ 1000.

Aker Solutions acquires managed pressure drilling specialist MPO

OSLO -- Aker Solutions has acquired Managed Pressure Operations International (MPO), a company that has developed the next generation of continuous circulation, riser gas handling and managed pressure drilling systems.

The acquisition places Aker Solutions at the forefront of technology development in the market for managed pressure drilling (MPD) which is seen as a key technology enabling better drilling performance and safety. MPO has also developed a new generation riser gas handling system to capture and safely handle gas in the riser.

The company currently employs 100 people in operating subsidiaries in Singapore, Dubai, Jakarta and Houston. These will join Aker Solutions' more than 3 000 drilling technologies experts all over the world. MPO's revenues are expected to continue to increase sharply in the coming years, from revenue of around $30 million in 2012.

PENGASSAN urges FG to build more refineries across Nigeria

Comrade Folorunso Oginni, Lagos Zonal Chairman of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) wants the Federal Government to obtain World Bank loans for building more refineries in each geo-political zone of the country.

Oginni, who spoke at a media parley with newsmen on why government’s reversal of sale of refineries would be an opportunity to build more, taking cognisance of the fact that the four refineries, if they produced at the main installed capacity will produce 18.2million liters on daily basis, compared to the consuming over 38 million liters daily in Nigeria called for more refineries to be built in Nigeria.

He “advised government to take loans from World Bank to build more refineries, may be one in each geo-political zone of the country because current refineries were built as far back as 1979. We have four refineries. If they produced at the main installed capacity they will produce 18.2 million liters on daily basis and we are consuming over 38 million liters daily in Nigeria.

Sterling Energy lifts force majeure on Ntem Block, offshore Cameroon

Sterling Energy Plc has announced it has agreed with its partners in the Ntem Concession, offshore Cameroon to lift force majeure and proceed with exploration.

The Ntem Concession has been under force majeure since June 2005 as a result of overlapping maritime border claims by the Republic of Cameroon and the Republic of Equatorial Guinea. The border claims remain unresolved but the joint venture partners, Sterling Cameroon Limited (“Sterling”) and Murphy Cameroon Ntem Oil Co., Ltd (“Murphy”), have now agreed, with Société Nationale des Hydrocarbures (“SNH”), the national oil company of Cameroon, to formally lift the declaration of force majeure in order to allow exploration activities to proceed.

The current exploration period (the “First Renewal Period”) re-commenced on 22 January 2014 with a minimum work obligation of one exploration well in the remaining 15 months.

Israeli billionaire sells Congo oil rights for 300 times purchase price

Israeli billionaire businessman Dan Gertler sold one of his Congo-based oil companies to the government last year for $150 million – 300 times the amount paid for the oil rights – in a deal criticised by transparency campaigners. Gertler, an influential figure in Democratic Republic of Congo’s mining and oil sectors with close links to the Kinshasa government, denies any wrongdoing in the sale of Nessergy Ltd, which paid a $500,000 signing bonus for its block in 2006.

The block lies near some of neighbouring Angola’s most productive oilfields. At the time it was acquired by Nessergy, the block was located in an area at the heart of a maritime border dispute between Kinshasa and Luanda. However, the two countries have since created a zone of common economic interest in an attempt to settle the border row. Last year, Congo sought to buy back the rights from Nessergy to allow it to negotiate a new production sharing agreement with Angolan state oil company, Sonangol.

According to the contract for the April 2013 transaction seen by Reuters, Sonangol financed the deal, paying Gertler’s Fleurette Group $150 million for the rights to the block. Congo will repay Sonangol out of future oil revenue. Fluerette has been paid the fee but cannot access the money until a deal between the national oil companies of Congo and Angola is finalised.

A Fleurette representative said no major drilling had taken place in the Nessergy block due to disputes over development rights. He said the $500,000 signing bonus was the standard amount companies paid to Congo for oil rights at the time the contract was agreed. The company said the value of its rights increased dramatically after oil was discovered on the nearby Menongue field in Angolan waters in 2007.

Analysts seek stringent regulation as Nigeria returns to global bunkering business

For Nigeria to effectively tap into the $150 billion global oil bunkering business formerly embargoed by government, there must be stringent regulations on licensed firms and operators, analysts say.

In 1984 the bunkering business in Nigeria was restricted to five major oil marketing companies on account of abuses which led to huge losses to the economy. Then in the year 2000 the business was put on ban for 13 years for the same reason.

With the recent lifting of the ban the business of bunkering is expected to yield over N250 million annually into the Federation Account as license renewal and registration fees for bunker vessels, says George Osahon, director, Department of Petroleum Resources (DPR)

Nigeria LNG targets 2015 for Train 7 project’s take-off

Barring any unforeseen circumstance, the Train 7 expansion project of Nigeria LNG Limited (NLNG), at Bonny Island, Rivers State would come on stream in 2015.

NLNG’s commitment to the project was made by its Chief Executive Officer and Managing Director, Babs Omotowa on Sunday, in Marmara, Turkey, at a ceremony to mark the delivery of the company’s 3000th cargo to Botas Petroleum and Pipeline Corporation of Turkey.

The delay in the Final Investment Decision (FID) on Train 7 has been eliciting concerns about the stability of gas supplies from upstream operators in the Nigerian oil and gas industry.

Already, NLNG has long-term gas supply agreements with three Joint Ventures (JVs) for the supply of natural gas to the existing gas plant.

Zimbabwe’s Green Fuel to invest U.S $1 billion

Green Fuel, Zimbabwe’s largest ethanol producer plans to spend close to US$1 billion on expansion in the medium term as the company seeks to become a regional ethanol giant, general manager Mr Graeme Smith has said.
About US$560 million would be spent on the construction of additional two plants with a combined capacity of 40 million litres of ethanol per month and US$400 million on developing farm land measuring 40 000 hectares.
Mr Smith said some money would also be invested in upgrading the current plant which would double capacity to 20 million litres.
“At the moment, we have 9 500ha and the potential total is around 50 000ha,” said Mr Smith. “To develop that, we had a 10 year plan . . . but in the next seven years, we intend to fully develop the entire project to the full potential of 50 000ha.

Nigeria’s offshore oil production seen rising amid IOCs’ shift

As international oil companies (IOCs) shift increasingly offshore, oil production from the region is expected to continue its upward trajectory as the oil majors look set to invest further capital in offshore developments.

The growing shift by the oil majors to the offshore region, which now account for the large percentage of total oil production in the country, signals their continuing appetite for the country’s oil sector despite operational and regulatory challenges, said analysts.

Wumi Iledare, president of International Association for Energy Economics and director, Emerald Energy Institute, University of Port Harcourt, said, “We can expect increase in offshore production as investment in development of the fields increases. The beauty of offshore is that it does not require cash call from government. They are production-sharing contracts, but government approves the companies’ expenditure. Production is going to increase depending on how fast government approves the companies’ expenditure plan.”

More Nigerian export cargoes unsold

As the traders expect crude oil shipping schedule for March, there are indications that some of Nigeria’s cargoes for February were still awaiting orders.
However, the West African crude oil differentials remained under pressure this week, with sales slow down as buyers experience lower offers before picking up the ample supply available for February loading.
Information gathered from Traders showed that about 25-30 Nigerian crude oil cargoes for February were still available for sale.
Highlighting fading demand from the biggest customers of West African crude oil, Reuters survey showed that exports to Asia would fall to about 1.86 million barrels per day from 2.16 million bpd in December.
Traders said that signs of increasing exports from Libya were adding to pressure on Nigerian crude oil grades, which are of similar quality.

Lagos to partner Germany, others, on renewable energy

The Lagos State Government says it would continue to collaborate with foreign investors for promotion of energy efficiency and conservation in the State.

The State’s Commissioner for the Environment, Tunji Bello, who spoke at the opening ceremony of a two-day seminar on renewable energy to promote energy efficiency and conservation, said Lagos, being the industrial nerve centre of the state and industrial haven in Nigeria, would continue to promote acts that that would boost the energy needs of the state.

Bello added that the seminar was to form a more formidable synergy with State of Bavaria, Germany, in developing capacity and sharing experiences on energy sector as this was critical to the development of the economy as well as the socio-economic growth of the State.

The commissioner said a huge gap existed between energy supply and demand in Nigeria, adding that the average annual energy consumption in Nigeria was one of the lowest in the world which had left the economy in a comatose state.

Naira depreciates as external reserves maintain downward trend

The naira depreciated across all the three segments of the foreign exchange market last week in response to increased demand for foreign exchange. Vanguard investigation revealed that the naira depreciated by 200 kobo at the parallel market as the parallel market exchange rate rose to N171 per dollar at the close of business on Friday from N169 per dollar in the previous week.

The naira also depreciated by 37 kobo at the interbank market, as the interbank rate rose to N159.86 per dollar from N159.49 per dollar.  The official exchange rate also rose marginally to N155.74 from N155.72 the previous week, implying two kobo depreciation for the naira.

Cumulatively, the naira has depreciated by 107 kobo at the interbank market, and four kobo at the official market
The depreciation was occasioned by demand pressure, which was aggravated by reduction in the foreign exchange sold by the Central Bank of Nigeria (CBN) last week. Results of the Retail Dutch Auction System (RDAS) session held last week show that foreign exchange sales dropped by 6.6 per cent to $699.96 million from $749.84 million.

Nigerians decry extra charges on PMS sales to containers

Nigerians have decried the increasing cost of purchasing Petroleum Motor Spirit, PMS also known as fuel using containers.

Vanguard investigation has revealed that most of the filling stations in Lagos, especially those located within residential areas charge additional fees for the commodity bought using containers. The extra charges range from N30 to N100 and depend on the quantity of PMS a customer wants to buy.
During investigation which covered areas from Surulere to Apapa in Lagos, it was discovered that most of the PMS retailers were involved in the unwholesome practice.

Vanguard investigation revealed that the retailers target only customers using containers to purchase. Customers buying with vehicles are sold at the official pump price of N97 per litre, while customers with containers purchase between N100 and N105 per litre. For instance, if a customer is purchasing 10 litres of fuel, he would be forced to pay N1050 or get N950 worth of fuel.

How Oil and Gas sector of Nigeria can improve through Modern Learning?

The oil producing nations strictly depends upon their oil and gas sector for economic prosperity. Nigeria also does the same, but the recent descend in this sector has provided the nation with serious concerns. To see what can be done to eliminate these problems, a conference was held in 2013 which aimed at examining the potentials of the oil and gas sector in Nigeria.

It was held in the end of February 2013  and it was successful in providing an opportunity to superior the position of the sector by reviewing the government planning data, receiving several updates from the officials of all the major industries, by networking with the decision makers and recognising the various business prospects.

The key challenges which the oil and gas sector of Nigeria is facing these days were identified with sharing different presentations by the forum members who belonged to this definite sector in Nigeria as well as other countries. They extracted the various challenges this sector is facing and how it can be eliminated. Some of the major threats identified by them were that of the PIB (Petroleum Industry Bill), gas flaring, pipeline wreckage and the theft of crude oil.

Graduate Awareness Programme

The Graduate Awareness Program consists of campus fairs, knowledge sharing, career talks and interview skills workshops. It is focussed on top academic performers at the penultimate and final year classes, and apprises students of new or emerging industry technological developments. It also provides high potential students with information about Shell, and the types of activities the Company engages in. It aims at creating a desire in students to pursue a career in Shell.

The program has been conducted in University of Abuja; Federal University of Technology, Minna; Federal University of Technology, Yola; American University of Nigeria, Yola; University of Jos; Abubakar Tafawa Balewa University, Bauchi; University of Maiduguri; Bayero University, Kano; and Usman Dan Fodio University, Sokoto.

2014 SPDC Niger Delta Postgraduate Scholarship Scheme

The Shell Petroleum Development Company of Nigeria Limited announces the fifth annual SPDC Niger Delta Postgraduate Scholarship Scheme for applicants from Rivers, Delta and Bayelsa States.

The objective of the scheme is to provide an opportunity for qualifying students from these Niger Delta States to further their education in courses that are relevant to the oil and gas industry.

In the four years since the programme was launched 40 students have benefited from the opportunity to study at world-renowned institutions.

SPDC will award 10 scholarships for one year M.Sc studies in partnership with three universities in the UK: Imperial College London, University College, London and the University of Leeds for the academic year commencing September 2014.

SPIE Oil and Gas Services (part of the SPIE Group) currently is recruiting for the position of a Developer – Account Manager.

SPIE Oil and Gas Services (part of the SPIE Group) currently is recruiting for the position of a Developer – Account Manager. We provides a complete range of services to some of the world’s largest oil and gas companies through its network of offices in 25 countries across Africa, the Middle-East and Asia-Pacific.

Our turnover (459 M€ in 2012) has doubled in the last five years thanks to the dedication of our 4000 employees to whom we give training, recognition, and genuine opportunities for career development.

In order to support this growth, SPIE Oil & Gas Services is always seeking talented individuals to join its teams. We currently have an opportunity within SPIE Oil & Gas Services.

Scottish firm takes over Ghanaian job on FPSO

A multinational oilfield inspection, lifting, fabrication and manpower services firm, Global Energy Ventures Group has taken over a job, which was being executed by Ghanaians on the oil rig, FPSO
The UK headquartered Global Energy Ventures Group, which has operations in Ghana, Cote D’Ivoire, Mauritania, Liberia, Sierra Leone, Mozambique, Tanzania and Cameroon , took over the services management contract from SeaWorld Engineering Ghana Limited, a Ghanaian firm yesterday.
This is in sharp contrast to the Petroleum Law (Local Content and Local Participation) Regulation, 2013 (LI 2204) which seeks to put Ghanaians at the forefront of all petroleum activities and ensure that they benefit from the country’s new resource.

Petroleum industry records milestone in local content

From a very humble beginning in the 1970s, indigenous oil and gas firms in Nigeria are making progress in an industry dominated by foreign firms. SOLA ADEBAYO reports their activities in boosting gas distribution in the country.

The International Oil Companies, IOCs such as Shell Petroleum Development Company Limited, Total E&P Limited, Mobil Producing Nigeria Unlimited and Nigerian Agip Oil Company have always been at the forefront of crude oil and natural gas exploration and production in the country. The multinationals also occupy prime place in refining, distribution and marketing of petroleum products as well as provide specialised services in the industry.

Fresh directive stresses minister’s power in oil asset sale by firms

The minister of Petroleum Resources will henceforth have a say in all divestments of assets in the upstream sector of the nation’s oil and gas industry by any operator.

Consequently, any divestments in the sector must comply strictly with the extant provisions of the law which require the prior consent of the minister before the assignment of any right, power or interest in a prospecting licence or oil mining lease.

Industry watchers say this move seems aimed at putting a halt to situations such as the one that has led to a  face-off between Chevron Nigeria limited and Brittania –U, an indigenous oil company, over a bid for Oil Mining Licenses (OMLs) 52,53, and 55 that has now become a subject of  litigation.

The directive requiring the minister’s consent in such deals was contained in a letter with reference number P1/160/Avol/.10,  dated December 20,  2013 signed by George Osahon, director of the Department of Petroleum Resources (DPR) and sent to all oil companies operating in the upstream sector.

Nigeria recorded 530,000bpd oil production shortfall in 2013 – Survey

Nigeria recorded a shortfall of over half a million barrels oil production daily in 2013, the country’s crude production statistics has revealed.
This average shortfall of about 530, 000 barrels per day was obtained by Bloomberg from records of daily production from the country compared with the 2.53 million barrels the federal government had predicted in the 2013 budget.
Nigeria, Africa’s biggest crude exporter depends largely on proceeds from crude to service over 85 per cent of its budget.
The country targeted, according to its financial plans for the year 2013, 2.53 million barrels per day production, a projection it failed to meet.

KEPCO to expand Egbin Power Station generation to 1,350MGW

The new management of Korea Electric Power Corporation (KEPCO), a technical partner of the Egbin Power Station in Ikorodu, on Friday promised to provide an additional generation plant to boost its capacity to 1,350 mega watts.

Mr Gyoo Chull-Yeom, the Managing Director of KEPCO, gave the assurance during a facility tour of the plant by journalists, after its privatisation in Lagos.

He assured that, there were plans to provide an additional projected capacity of 1,350 mega watts, during the year.

Chull-Yeom said that the new management also intends to collaborate with the New Electricity Distribution Company (NEDC), the Nigerian partners, to restore Egbin to its installed capacity of 1,320 mega watts.

Nigeria Petroleum Ministry Audit – Top manager forced to resign

The Minister of Petroleum Resources, Diezani Alison-Madueke, has ordered the General Manager, Operations/Corporate Services, Petroleum Products Pricing Regulatory Agency, PPPRA, Wole Adamolekun, to immediately proceed on retirement.

A copy of the letter conveying the minister’s directive, sighted by our reporter in Abuja, and signed by the agency’s Assistant General Manager/Head, Administration, Moses Mbaba, directed Mr. Adamolekun to quit latest December 31, 2013.

A ministerial personnel audit panel constituted early in 2013 to verify the service records of workers in five parastatals under the supervision of the Federal Ministry of Petroleum Resources reportedly indicted Mr. Adamolekun along with several other top oil industry management staff for allegedly falsifying their service records.