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Over 50 people missing after Nigerian oil pipeline explosion

March 05, 2019 | Health, Safety & Environment, Nigeria, Pipelines

Warri, Nigeria | — More than 50 people were reported missing after a leaking oil pipeline exploded and caused a stampede in southern Nigeria, a local official said on Saturday. Nengi James-Eriworio, a spokesman for the Nembe Chiefs Council, told reporters that the blast on Friday caused a massive oil spill in the Nembe Kingdom in Bayelsa State. There was no immediate word on injuries or other casualties beyond those missing. The Nembe trunk line is operated by the Port Harcourt-based Aiteo Group and carries …

Uganda government pushes oil refinery project to 2023

March 05, 2019 | Construction & Installation, Refining & Processing, Uganda

Kampala, Uganda |  — The consortium of Italian and American investors contracted to design, finance, construct and operate Uganda’s proposed 60,000 barrels per day oil refinery have completed and submitted the facility’s initial designs to the Ugandan government, with Energy Minister Irene Muloni saying they are “happy” with the latest configuration. A government delegation led by Ms Muloni and the Uganda Refinery Holdings Company (UHRC) general manager Michael Mugerwa was in Milan, Italy last week for discussions with the Albertine Graben Refinery Consortium (AGRC) to …

Shell Nigeria rules out force majeure on oil export after Nembe fire

March 05, 2019 | Company Operations, Nigeria, Terminals & Storage

Lagos, Nigeria | – Shell Petroleum Development Company (SPDC) , a subsidiary of Royal Dutch Shell has disclosed that it does not have plans to declare force majeure on Bonny Light exports after a fire in an area around a key pipeline. A force majeure is usually declared to protect an oil exporter against any liability with buyers because of its inability to meet obligation. Shell stated that the Nember Creek Trunk Line (NCTL) had not been impacted by a fire, having been shut since …

Saudi Aramco inks $10 billion China refinery deal

February 22, 2019 | Asia, Downstream, Refining & Processing

London, UK | – Saudi Arabian state-owned oil company Saudi Aramco signed a $10 billion deal to build a refining and petrochemical complex in China on Friday, as Saudi Crown Prince Mohammed bin Salman wrapped up a two-day trip to Beijing. The Saudi delegation, including top executives from Aramco, arrived on Thursday on an Asia tour that has already seen the kingdom pledge investment of $20 billion in Pakistan and seek to make additional investments in India’s refining industry. Aramco agreed to form a joint …

Egypt to invest $9bn in refineries’ upgrade over four years

January 22, 2019 | Egypt, Government & Regulations, Refining & Processing

Cairo, Egypt | – Egypt plans to upgrade six oil refineries at a cost of about $9 billion over four years to increase domestic production to 41 million tonnes a year, the petroleum minister said. “We are trying to secure crude oil supplies for Egyptian refineries to increase local production of refined products,” the minister, Tarek El Molla, said during a conference in Cairo late on Sunday night, without giving further details. Egypt currently has eight refineries with a capacity of 38 million tonnes, of …

Saudi to invest $10bn in South Africa for a new refinery, petrochemical plant

January 22, 2019 | Petrochemicals, Refining & Processing, South Africa

London, UK | – The South African Minister of Energy Jeff Radebe and his Saudi Arabian counterpart Khalid Al-Falih confirmed last week that the kingdom’s $10billion investment in South Africa would be for a new crude oil refinery and petrochemical plant. According to a statement issued by the energy department, the meeting was a follow-up on progress made since President Cyril Ramaphosa’s state visit to Saudi Arabia in July last year. Saudi Arabia and South Africa have been in talks regarding the building of a …

New mega refinery near Lagos on schedule, says Dangote

January 22, 2019 | Budget & Investment, Nigeria, Refining & Processing

Lagos, Nigeria | – Nigerian billionaire Aliko Dangote says he is on schedule for the completion by next year of his $15bn oil refinery, which will be one of the world’s biggest, despite analysts saying the timeline is ambitious. “There are quite a lot of challenges, but we’re moving,” Dangote told reporters at a conference in Paris about the plant, which is being built near Lagos, Nigeria’s commercial capital, and is designed to process 650,000 barrels of crude daily. “We’re still targeting next year for commissioning.” …

Confident oil industry set to ratchet up spending in 2019

January 22, 2019 | Downstream, Oilfield Services, Upstream

After years of gloom, the oil industry’s out of its slump London, UK – Three-quarters of senior oil and gas professionals surveyed by energy and maritime services company DNV GL say they are optimistic about the sector’s growth in 2019, their sunniest outlook since before the crude-price collapse in 2014. Confidence across the energy industry is now where it was in 2010, when Brent soared to $95/bbl, about 50% above today’s level. That good cheer will translate into higher spending, with 70% of professionals saying …