Tenaris has delivered its final shipment of coated pipes for Total’s ultra-fast track Ikike Project, located approximately 20km offshore the Nigerian Coast, in the Gulf of Guinea. The scope included 28km of 12” seamless line pipe, produced at Tenaris’ Dalmine plant in Italy, associated coating solutions for anticorrosion (3LPE), thermal insulation coating, TenCoatTM Marine 5LSynt…

The Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), Dr. Sanusi Barkindo, yesterday highlighted the role played by the Declaration of Cooperation (DoC), the group’s framework for supply stability, in halting an excess crude oil volume of 1.3 billion into the market in 2020. This comes as the Speaker of the House of Representatives,…

Weak shareholder returns in the oil and gas sector, coupled with a pandemic-induced demand shock, are challenging the industry. O&G companies are under pressure to choose between increased diversification and greater discipline as their primary strategy for creating value and winning back investor confidence, according to a new report released today by Boston Consulting Group…

Despite the current downturn in the global oil and gas sector, some indigenous operators in Nigeria are stepping up efforts to snap up more assets as part of their expansion plans, ’FEMI ASU writes While they are still smarting from the impact of the COVID-19-induced collapse in oil prices and demand, indigenous firms in the…

International energy companies working in Nigeria are worried that proposals in the country’s long-delayed oil industry law will deter investment in new offshore projects. At least half of Nigeria’s total crude output is from offshore oilfields, helping to offset declining production from mature onshore assets. But recent discoveries have remained undeveloped in the face of…

A record two-thirds (66%) of senior oil and gas professionals report that their organization is actively adapting to a less carbon-intensive energy mix in 2021, up from just 44% in 2018. Some 57% plan to increase investment in renewables, up from 44% last year, half (48%) expect to increase investment in green or decarbonized gas.…

OPEC+ compliance with pledged oil output curbs is averaging 85% so far in January, tanker tracker Petro-Logistics said on Monday, suggesting the group had improved its adherence to pledged supply curbs. The Organization of the Petroleum Exporting Countries and allies, a group known as OPEC+, agreed to increase output by 500,000 barrels per day in…

Conoil Producing, the Nigerian E&P independent owned by the billionaire Mike Adenuga, has paid a deposit for its purchase of the 40% equity held by Chevron Corp. in Oil Mining Leases (OMLs) 86 and 88. Conoil won the drawn out bid for the two shallow water assets and had been in discussion with the California…

More loading programmes for Nigerian crude in March were issued on Friday while differentials appeared to be under downward pressure from ample supplies in February. Bonny Light is loading six cargoes in March, while Forcados is loading seven full cargoes and two partial shipments, traders said. Even so, March supply of four main grades is…