TOTAL RETURNS TO THE “CAPE OF STORMS” IN LATE 2017

Total will return to drilling in the ‘Cape Of Storms’ in late 2017, a full year and several months after the original planned date. The French major halted drilling in Block 11B/12B in South Africa’s offshore Outeniqua Basin in November 2014 because of mechanical problems on the rig, caused by the challenging environment in the Agulhas, with its chaotic combination of currents, waves and winds, which contrasts sharply with the mild metocean conditions of the West African deepwater.

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INDIGENOUS FIRMS NEARING COMPLETION OF STRUCTURES FOR $16B EGINA FPSO PROJECT

Indigenous oil firms have demonstrated local capacity in the execution of the over $16 billion worth Floating Production Storage and Offloading (FPSO) facility for Total’s Egina oil field project. The Egina field, when completed, is expected to add 200,000 barrels per day to the national oil production by 2018, while the project will be completed in 2017.

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TOTAL NIGERIA LAUNCHES TRUCK RENEWAL SCHEME

Total Nigeria unveiled new fleet of trucks in Lagos to launch its truck renewal scheme. The robust fleet acquisition scheme is targeted at renewing 20 percent of Total Nigeria’s fleet of trucks in 2017 in order to ensure a continuation of its sustainable business model.

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EWT FABRICATES PILES FOR TOTAL’S $15BN EGINA PROJECT

A subsidiary of the Obijackson Group, Energy Works Technology Limited, has completed the fabrication of nine Oil Loading Terminal buoy anchor mooring piles for the Egina field development by Total Upstream Nigeria Limited. The piles were inaugurated on Tuesday during the load-out and sail-away ceremony at Nestoil Industrial Area, Abuloma Jetty, Port Harcourt.

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PROFITABLE RETAIL OPERATIONS BUOY TOTAL NIGERIA EARNINGS

In the midst of operating difficult which characterised much of 2016 Total Nigeria emerged the top earner on the back of its downstream operations. From the first quarter of 2016, the company maintained high growth momentum and ended the year as the leading company by earnings per share.

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NIGERIA’S OIL OUTPUT TOPS FOREIGN INVESTORS’ CONCERN

Foreign investors planning to invest in Nigeria and other global markets this year are taking a keen look at the nation’s oil output among other factors. According to a Financial Times’ report, oil supply from the world’s biggest producers will be in focus from the first trading day of January as market participants assess the extent to which countries such as Saudi Arabia and Russia reduce production following a global deal to cut supplies for the first time since the global financial crisis.

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NEITI CONDEMNS N1.1 TRILLION TAX WAIVERS TO OIL FIRMS

By granting Pioneer Status, the Federal Government has waived $2.1 billion (N1.1 trillion) to 22 oil companies through tax holiday as at 2014. These companies are operators in the marginal field segment of the Nigerian oil and gas industry, according to the latest report from the Nigerian Extractive Industries Transparency Initiative (NEITI).
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TOTAL, PETROBRAS PARTNER ON AKPO FIELD, OTHERS

Total and Petrobras have signed a Memorandum of Understanding (MOU) towards a strategic alliance covering upstream and downstream activities in Nigeria and other countries including Brazil. According to the terms of the agreement both companies both companies will collaborate in some key areas of mutual interest and evaluate opportunities in Brazil, as well as abroad to jointly benefit from their respective experience in all segments of the oil and gas value chain.

Readmore @ Businessday Online

BARGE, EQUIPMENT SINK IN FAILED ATTACK ON NPDC PIPELINE IN DELTA

Hell bent on crippling the source of the oil revenue of the country, suspected militants again, in the early hours of yesterday, attempted to bomb the Trans Forcados 48” Export Trunk line in Batan community in Warri South West Local Government Area of Delta State. Though the attack on the trunk line, operated by the Nigerian Petroleum Development Company (NPDC), was foiled by soldiers, the militants succeeded in sinking a barge with equipment used for repair work on the line.

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NIGERIA’S PIPELINE BREAKS DROP TO 221 POINTS IN AUGUST

The Federal Government’s efforts in tackling the issue of pipelines vandalism have shown remarkable progress, as disruption of oil flow dropped to 221 in August, down from 311 points in July, according to the latest data from the Nigerian National Petroleum Corporation (NNPC). It disclosed that in August 2016, there was 28.94 per cent drop in the number of pipeline vandalised points relative to July, 2016. The Corporation stated in its August Monthly Financial Report (MFR), released, that the spate of pipeline vandalism in the country has shown remarkable improvement, following Federal Government and NNPC’s sustained engagements with the Niger Delta militants.

Readmore @ The Guardian Online

FG REACHES SETTLEMENT WITH IOCS ON $5BN CASH CALL ARREARS

The federal government has reached an outline settlement to resolve a protracted dispute with five international oil companies (IOCs), under which the oil firms will be paid $5 billion as arrears of cash calls to cover exploration and production costs. Financial Times reported that Shell, ExxonMobil, Eni, Chevron and Total have signed deals relating to this settlement of costs incurred between 2010 and 2015, as they also seek to forge new financing arrangements for their joint ventures (JVs) in Nigeria.

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NEW GAS POLICY CREATES $51BN INVESTMENT OPPORTUNITIES IN SECTOR

Nigeria’s latest gas policy encapsulated in Ibe Kachikwu’s 7Big Wins has created $51 billion worth of investment opportunities in gas processing, transmission and general infrastructure in midstream and downstream operations of the sector. Nigeria’s epileptic power supply has created opportunities to build more power plants, as the current 22 have not assuaged energy needs.

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SENATE TO INTRODUCE OIL COMMUNITY DEVT BILL

The Senate President, Dr. Bukola Saraki, has stated that the Senate will introduce a host community legislation to complement the Governance and Institutional Framework Bill of the revised Petroleum Industry Bill. The PIB passed second reading at the Senate on Wednesday. The Senate President said the legislation would address issues relating to community participation, security and the ecological debt incurred by host communities from oil extraction.

Read more @ The Punch Online

NIGER DELTA LEADERS MEET BUHARI, DEMAND OIL BLOCS

President Muhammadu Buhari and some prominent leaders and stakeholders in the Niger Delta yesterday began to find lasting solutions to the crises in the oil-rich region. As part of the move, President Buhari hosted the leaders at the Presidential Villa where they demanded that they will be considered in the allocation and ownership of oil wells. The Niger Delta leaders specifically outlined a 16-point agenda which they presented to Buhari towards halting militancy in their area.

Read more @ The Guardian Online

FG TO ESTABLISH SPECIALISED PETROLEUM FORCE TO TACKLE MILITANCY

As part of its 2017 target to ensure zero militancy and drastic reduction of violence in the Niger Delta, which affect Nigeria’s oil production, the federal government has indicated that it would set up a specialised petroleum force, comprising coastal patrol teams, Niger Delta subsidiary police, and other paramilitary set-ups.

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NNPC, TOTAL TO CONSIDER LIFTING OIL THROUGH RAIL

The Nigerian National Petroleum Corporation (NNPC) and Total Nigeria Plc are considering the movement of petroleum products through the rail system in other to reduce the cost of transportation.

This, they believed, is possible if plans by government to overhaul the rail sector becomes realistic.

Read more @ Guardian NG

OIL EXPORT: JUDGE REFUSES TO BAR JOURNALISTS FROM COVERING FG’S SUIT AGAINST TOTAL

A Federal High Court in Lagos on Tuesday dismissed an application to bar journalists from covering the case of alleged illegal oil export filed by the Federal Government against Total E&P Nig. Plc.

The federal government sued Total E&P Nig. Plc, alleging that the oil company under-declared the volume of crude oil it shipped out of the country between January 2011 and December 2014.

 

Read more @ Daily Trust

 

TOTAL PARTNERS FIRM ON EMPLOYEE ENGAGEMENT

Total Nigeria Plc in partnership with Kasher Consulting organised the third edition of “Total Job Shado” at the Kaduna Blending Plant and Kaduna Sales Office simultaneously.

According to a statement from Total, the programme is an employee engagement activity designed to increase career awareness among senior secondary school students and to help model students’ behavior through examples set by employees who serve as their mentors.

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ANALYSTS PREDICT MIXED FORTUNES AS NIGERIAN DOWNSTREAM SECTOR DIVESTMENT INCREASES

Analysts are adducing different reasons for the recent divestments in the downstream sector of the Nigerian oil and gas industry. Shortly after details filtered in that Nipco Investments Limited is buying 60 percent stake in ExxonMobil’s downstream operations, industry operators confirm a media report that Total Nigeria has already received over a dozen interests for its downstream assets. Analysts say possible reasons for these divestments could be due to harsh operating environment in the downstream sector compounded by slump in crude oil prices.

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TOTAL APPOINTS ABIODUN AFOLABI INTO BOARD OF DIRECTORS

The TOTAL Group has announced the appointment of Abiodun Afolabi to the board of directors of Total E&P Nigeria Limited (TEPNG) and Total Upstream Nigeria Limited (TUPNI), respectively, with effect from Wednesday, September 21, 2016, pursuant to resolutions of the board of directors of each of the companies, dated July 8, 2016.

Read more @ BusinessDay