OIL, GAS SECTOR FACING DECLINING REVENUES, SAYS KACHIKWU

The Group Managing Director of Nigeria National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu, monday said the industry was facing a sharp lower revenues from the country’s oil assets. Kachikwu said this at the 33rd Annual International Conference and Exhibition organised by Nigerian Association of Petroleum Explorationists (NAPE) in Lagos.

The NNPC boss was represented by the Group General Manager, Nigerian Petroleum Investment Management Services (NAPIMS), Mr. Dafe Sejebor.

 

Read more @ Thisdaylive

RISING EXPLORATION COSTS STALL OIL PROJECTS

The Nigerian Association of Petroleum Explorationists has attributed the lag in petroleum exploration in the country by oil companies to the rapidly rising costs of exploration, which in most cases more than double the initial costs.

 

This situation, they lamented, had been aggravated by the absence of the desired tax brakes, tax rebates, among other business incentives from the government

 

Read more @ Punch Online

CHEVRON NIGERIA DEPLOYS ADVANCE TECHNOLOGY IN DRILLING OPERATIONS

Chevron Nigeria Limited said that it has continued to deploy the latest advanced technology in its oil and gas operations in Nigeria.

The company, which was a major sponsor of the just concluded Nigerian Association of Petroleum Explorationists (NAPE) yearly conference, said that its experience, technology and perseverance have created opportunity to overcome challenges and deliver value in the oil and gas sector

Read more @ The Guardian