Oil & Gas News Highlights!

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http://www.punchontheweb.com/Articl....00704253171971

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Thumbs up for engineering technologists!

The Tide
Engineering technologists in oil, gas operations
Monday, Apr 23, 2007

Engineering Technologists are key players in the Nigerian Oil and Gas industry, which has been a major instrument and catalyst to our national development since the first energy crisis of 1973.

Today, Oil and Gas accounts for over 80% of Government’s revenue and will remain an important source of energy for the foreseeable future at least until the emergence of new and renewable energy alternatives.

The Nigerian economy is mainly oil and gas driven. Currently, Nigeria has crude oil reserve of about 36 billion barrels and an estimated 187 trillion cubic feet (tcf) of gas. The NNPC is responsible for oil exploration and production activities in Nigeria. NNPC also has operational interests in refining petrochemicals and products transportation as well as marketing.

As a practicing Process Engineer in NNPC, I have worked closely with Technologists and Technicians and have enjoyed the engineering family relationship over the years. This same spirit will go a long way in understanding the various roles we play in national development.

To have a proper perspective on the role of Technological Engineers in the Oil and Gas industry, I find it necessary to acquaint you with the definition of four cadres in engineering practice identified by COREN. The British Engineering Council (1990) defines them as follows:

An engineer is one who acquires and uses scientific, technical and other pertinent knowledge and skills to create, operate or maintain safe, efficient systems, structures, machines, plant, processes or devices of practical and economic value.

http://www.thetidenews.com/article.a...olumn=BUSINESS

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"Copyright infringement"

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Definitely good news!

The Punch
Analysts predict stable oil prices
By Our correspondent
Published: Monday, 30 Apr 2007

Crude oil prices are expected to stablise this week barring any major shock among the world’s major producers, analysis said on Sunday.

Prices had soared in the last two weeks on concerns over Nigeria’s disputed general elections, which had been marred by violence, vote-rigging and protests.

Just as the tension was reducing in Nigeria, the Saudi Arabian authorities announced that they had uncovered plans to bomb oil and military installations in the kingdom.

Saudi Arabia said it had since arrested a ring of alleged militants plotting airborne attacks on oil facilities and army bases.

The news from the world’s biggest oil exporter subsumed weak first-quarter growth data in the United States of America, which showed the economy expanding by its weakest pace in four years.

New York’s main oil futures contract, light sweet crude for delivery in June, rose $1.40 to close at $66.46 a barrel.

In London, the price of Brent North Sea crude for June delivery firmed 76 cents to settle at $68.41 a barrel.

http://www.punchontheweb.com/Articl....00704300395534

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http://www.punchontheweb.com/Articl....00704300422540

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http://www.tribune.com.ng/30042007/news/news7.html

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AMCON bites, takes over oil firm’s properties

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Shell Nigeria Case Puts Court in Foreign Territory: Noah Feldman - Bloomberg

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Nigeria: Govt Set to License New Oil Production *
After nearly five years of expectations, the Federal Government will
finally hold an oil licensing bid round this year, Director of
Department of Petroleum Resources (DPR), Mr. Osten Olorunsola, has
given a firm assurance.
allAfrica.com: Nigeria: Finally, FG to Hold Oil Licensing Round This Year

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Nigeria: Fuel Scarcity - Navy, Customs Responsible - NNPC *
Following the lingering fuel scarcity that finally brought Lagos and
other neighboring states to a standstill yesterday, the Nigerian
National Petroleum Corporation (NNPC), has put the blame on the
doorsteps of the Nigerian Navy and the Customs Service, saying the
security agencies had been arresting vessels laden with petroleum
products at the Apapa ports.
allAfrica.com: Nigeria: Fuel Scarcity - Navy, Customs Responsible - NNPC

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Nigeria: NUPENG Threatens to Go on Strike *
The Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) has
threatened to embark on strike over the failure of Federal Government
to compel the Asset Management Corporation of Nigeria (AMCON) to
restructure the loans granted to members of Jetty and Petroleum Tank
Farm Owners of Nigeria (JEPTFON).
allAfrica.com: Nigeria: NUPENG Threatens to Go on Strike

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Nigeria: Let's Reason Together On Refineries *
The second mistake was the way Yar'Adua abandoned the power projects
as his associates sought to take them over and bring in their own men.
http://allafrica.com/stories/201203120940.html

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Nigeria: 42 Marketers Get Permits to Import 4.8 Billion Litres of
Petrol *
The Petroleum Products Pricing Regulatory Agency (PPPRA) has issued 42
petroleum product marketers, permits to import a total of 4.8 billion
litres of petrol in the second quarter this year.
allAfrica.com: Nigeria: 42 Marketers Get Permits to Import 4.8 Billion Litres of Petrol

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allAfrica.com: Nigeria: Mobil Completes Platforms for 20 New Oilfields

Hope this is ok.............Regards

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Nigeria: Investors Expected to Pump Billions Into Oil *
Nigeria expects $150 billion Foreign Direct Investor (FDI) into the
oil and gas sector in the next five years, Minister of Petroleum
Resources Mrs. Diezani Alison-Madueke has said.
allAfrica.com: Nigeria: Investors to Pump $150 Billion Into Oil Sector - FG

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Nigeria: Enugu, Anambra At War Over Oil Blocs *
The proposed crude oil exploration and refining by Anambra state might
have met a brick wall following claims by Enugu state that it is the
owner of the two oil blocs to be explored.
allAfrica.com: Nigeria: Enugu, Anambra At War Over Oil Blocs

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Nigeria: Senate Warns Oils Firms About Niger Delta Spills *
The Senate Committee on Environment yesterday said it will not
hesitate to sanction oil companies that recklessly spill oil in the
Niger Delta region.
allAfrica.com: Nigeria: Oil Spill - Senate Warns Oil Firms

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Investors Should Avoid Oil and Alternatives - Dr. Marc Faber Talks Energy

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Oil Near One-Week Low in New York; Set for Weekly Decline - Bloomberg

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BBC News - Shell in court over Nigeria oil spill compensation