Highlights from OTC 2017
Government Announces New Pump Price
Following a meeting with some industry stakeholders on the 11th of May, the minister of state for Petroleum Resources, Dr Ibe Kachikwu, announced a new price ceiling for petrol of N145 per litre
PETAN PAYS Courtesy Visits to NAPIMS, SNEPCo, Seplat, Others In a bid to sensitize the industry of the association’s robust plans to tackle the vicissitudes of current market realities, PETAN Chairman, Mr Bank-Anthony Okoroafor led a delegation of about thirty industry professionals, comprising executives from member companies to the offices of the Group General Manager of National Petroleum Investment Monitoring Service, NAPIMS; the Managing Director of Shell Nigeria Exploration Company, SNEPCo; Seplat Petroleum Development Company Plc; First E&P; Waltersmith Petroman Oil Limited; and Aiteo Exploration and Production, across four days on a courtesy visit.
Shell Nigeria Exploration and Production Company (SNEPCo) and the Petroleum Technology Association of Nigeria (PETAN) have resolved to develop effective collaboration to promote Nigerian Content in the oil and gas sector.
The Chairman of the Petroleum Technology Association of Nigeria (PETAN), Mr. Bank-Anthony Okoroafor has raised the alarm on the depleting crude oil reserves in Nigeria, saying that no new addition was recorded in the last 10 years, while the country drilled the highest number of exploration wells as far back as 1967.
Twenty years after it was discovered, the Aje field located in Oil Mining Lease 113 has achieved its first oil, putting Lagos on the list of oil-producing states in the country..