GOVERNMENT MOVES TO ACHIEVE 2,050 BPD REFINING CAPACITY

Nigeria is on the path of self-sufficiency in the production of petroleum products as the Federal Government has introduced strategies to increase the country’s refining capacity to about 2.050 million barrels per day of crude oil.

This was almost the nation’s daily production of about 2.2 million barrels per day (bpd) before the current attacks on oil facilities in the Niger Delta.

Read more @ The Guardian

EXXONMOBIL, CHEVRON PROFITS SLIDE ON LOW OIL PRICES

ExxonMobil reported a 63% slide in first quarter profits following low crude oil prices and weak refining margins.

It reported a profit of $1.8bn (£1.24billion), a sharp decline from $4.94billion for the same period last year and its lowest quarterly profit since 1999.

Read more @ The Nation

PH, WARRI REFINERIES NOW PRODUCING PETROL – KACHIKWU

The Minister of State for Petroleum Resources and Group Managing Director, Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, has announced that the Port Harcourt Refining Company and the Warri Refining and Petrochemical Company are now producing a combined volume of seven million litres of petrol daily.

 

According to him, the PHRC now produces five million litres of Premium Motor Spirit, popularly known as petrol, while the WRPC produces two million litres of the product daily.

 

Read more @ Punch Online

DOWNSTREAM OPERATORS WANT CRUDE REFINING POLICY

Stakeholders in the downstream subsector of Nigeria’s petroleum industry have stressed the need for a national refining policy, which defines the framework for encouraging investment in petroleum refining in Nigeria.

 

The stakeholders at the Ninth Oil Trading Logistics Africa Downstream Week 2015 held in Lagos, said the move would facilitate increased national revenue and infrastructure development

 

Read more @ Punch Online

Infrastructure deficit, sliding oil prices may cut Nigeria’s growth projection

Growth is expected to decelerate in Sub-Saharan Africa to 3.7 per cent in 2015, the lowest since 2009, due to declining crude prices and infrastructure (electricity supply and transport) constraints affecting Nigeria and South Africa.
The World Bank said in a report titled: Africa Pulse released on Monday, that slowdown in growth forecast is related to crude oil prices, refining, one of the key activities in the sector, which recorded a sharp decline.
Read more @ Guardian online
 

 

NNPC not broke, despite huge debts – Kachikwu

The Nigerian National Petroleum Corporation, NNPC, said, weekend, that despite losing N230billion annually from marketing and refining operations, the Corporation was not broke. It also disclosed that it owes over $6billion in cash call arrears.
 
NNPC insisted that there was no way the Corporation can be broke, given its assets base and equity holding in the petroleum industry.

Read more @ Vanguard Online

WIKE INSPECTS PORT HARCOURT REFINERY AS OPERATIONS BEGIN

Rivers State Gover­nor, Nyesom Wike has commended Nigerian technical staff of the Port Harcourt Refining Company (PHRC) for efficiently concluding the Turn Around Main­tenance (TAM) of the facility.

Wike, who spoke dur­ing a facility visit to the PHRC yesterday, said the success of the turn­around maintenance (TAM) proved the ca­pacity of Nigerian en­gineers.

Read more @ SunNewsOnline

PORT HARCOURT REFINERY MISSES JUNE TARGET

Despite assurances by the Nigerian National Petroleum Corporation that the Port Harcourt Refining Company Limited will start refining crude oil by the end of last month, findings have shown that the plant has yet to start delivering on the target. This is coming as civil society organisations have called on the Federal

Government to cut down the volume of crude being supplied to the four refineries based on the fact that the facilities are producing far below the 445,000 barrels, which they get on a daily basis.

Read more @ Punchonline

SHELL MOVES AGAINST ILLEGAL OIL REFINING IN OGONI LAND

The Shell Petroleum Development Company of Nigeria Ltd (SPDC) has kicked off the second phase of its grassroots campaign against crude oil theft and illegal oil refining activities in Ogoni land. The first phase of the campaign in 2014 reached over 7,000 community people from Eleme, Gokana, Khana, and Tai local government areas.

Read more @ Guardian

SHELL KICKS OFF GRASSROOTS CAMPAIGN AGAINST CRUDE OIL THEFT IN OGONILAND

The Shell Petroleum Development Company of Nigeria Limited (SPDC) has kicked off the second phase of its grassroots campaign against crude oil theft and illegal oil refining activities in Ogoni land, Rivers State. The first phase of the campaign in 2014 reached over 7,000 community people from Eleme, Gokana, Khana, and Tai Local Government Areas.

Read more @ Thisdaylive

PORT HARCOURT REFINERY TARGETS FULL CAPACITY UTILISATION

The Port Harcourt Refining Company (PHRC) Limited has activated comprehensive but phased rehabilitation project that would bring about optimal processing capacity of the plants and full yield of different petroleum products by July 2015.

The rehabilitation will however be carried out in phases in a strategy that would permit operations to progress at available units of the complex while repair works continue on other processing units.

Read more @ Thisdaylive

DIEZANI TO COMMISSION THREE 25MW GAS TURBINES FOR P-HARCOURT REFINERY

Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke will soon ommission three 25 megawatts gas turbines, aimed at facilitating uninterrupted power supply to the Port Harcourt Refining Company Limited, PHRC, in Rivers State.

The power plants to be installed and operated by an independent power producer is part of measures to ensure continuous and unimpeded refining of petroleum products in PHRC.

Read more @ Vanguard

NNPC’S PORT HARCOURT REFINERY COMPANY NETS N11.2BN PROFIT

The Port Harcourt Refining Company (PHRC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has announced a record net profit of N11.2 billion for last December, representing N8.2 billion or 250 per cent above the N3.2 billion posted by the company in preceding November 2014.

The Managing Director of the company, Dr. Bafred Enjugu, who disclosed this in a statement on Thursday, attributed the improved financial performance to the phased rehabilitation programme and resumption of crude supply to the plants.

 

Read more @ Thisday Live

OIL SLUMP REVEALS STRUCTURAL DEFECTS IN NIGERIAN ECONOMY

The slump in oil prices would not have hit Nigeria so hard if the country had sufficiently diversified its economy and created an industrial base for refining its crude locally.

Oil importers from India to China and Morocco, are benefiting from a fall in oil prices, which is cutting into energy costs and giving a boost to their domestic economies.

Read more @ Businessday

OPEC BLAMES POOR REFINING CAPACITY FOR NIGERIA'S WOES

The Organisation of Petroleum Exporting Countries, OPEC, has blamed the dismal refining capacity in the country for its inability to weather the headwinds in the global oil industry.

It also criticised the huge refining gap within the continent, even as it notes that the region is lagging behind in implementation of refinery projects.

Read more @ Sweet Crude

SPE CANVASSES INCREASED LOCAL OIL PRODUCTION, REFINING

The Society for Petroleum Engineers has said in the emerging need for domestic energy security in Nigeria, indigenous independent oil and gas companies are expected to play increasing role in oil and gas production and refining.

The body stressed this in a communiqué issued at the end of its 38th Nigeria annual international conference and exhibition held in Lagos.

Read more @ The Punch

NEW BRAND BASELINE AND GLOBAL CORPORATE ADVERTISING CAMPAIGN FOR TOTAL

Paris, September 30, 2014 – Total is launching its new international multimedia advertising campaign simultaneously in 21 countries on October 2nd to develop the Group’s brand awareness. The campaign highlights Total’s operations in oil production, refining and marketing, as well as its role as a major player in natural gas (50% of its output) and as the global number two in solar power, through its subsidiary SunPower.

The campaign provides a tangible illustration of the meaning behind the Group’s new baseline, “Committed to Better Energy”, which puts the emphasis on producing “better”, not “more”.

In this way, the Group is sharing its conviction that the path to a responsible energy future lies first and foremost in energy that is safer, cleaner, more efficient, more innovative and accessible to as many people as possible.

To help shoulder this commitment, a large number of Group employees were involved in producing the campaign, and most of the scenes in the commercial were filmed at Total sites.

“Total is a leading global energy company. It needs a powerful brand over the long term to support the growth of its businesses. This large-scale campaign is the first of its kind in Total’s history. It reflects both our size and our ambitions,” explains Jacques-Emmanuel Saulnier, Total’s Senior Vice President, Corporate Communications.

“Our vision and our continuous improvement approach – “always better” – are seen on our work on the front lines, alongside and for our stakeholders,” says Mrs. Elisabeth Proust, Managing Director of both Total E&P Nigeria Ltd and Total Upstream Nigeria Ltd. “This isn’t just a promise for the future, it’ s the everyday reality for Total’s 100,000 employees.”