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Volume 6, Issue 117
16th March 2020.

OUR VISION

To become the premier marine logistics and charter services company in Nigeria, and a leading and internationally recognized marine services provider in West Africa.

NEWS WITHIN OUR SHORES

NNPC to reduce cost of crude oil production from $17

The Nigerian National Petroleum Corporation (NNPC) has expressed its readiness to strategically put in place measures that would alleviate the cost of crude oil production in Nigeria to create market for Nigeria’s crude and make Nigeria a choice destination for Foreign Direct Investment.

Group Managing Director of the NNPC, Mallam Mele Kyari, made this known at the Central Bank of Nigeria Round Table discussion in Abuja, yesterday.

Mallam Kyari stated that at the moment the cost of crude oil production in the country was within the range of $15 to $17 per barrel, adding that some leaders in the Industry such as Saudi Arabia’s cost of production is between $4 and $5 per barrel

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Dangote says Nigeria’s economic diversification remains elusive

The President of Dangote Group, Alhaji Aliko Dangote, on Wednesday said Nigeria’s economic diversification programme has been largely elusive, adding that it is almost running late if Nigeria failed to diversify now.

Dangote, who is Africa’s richest man, disclosed this at the ongoing round table with the CBN Governor, Godwin Emefiele tagged “Going for Growth 2.0”.

Apparently speaking on the impact of the sudden drop in crude oil prices on Monday, which went down to about $30 per barrel in one fell swoop, he said the time to diversify is now.

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There’s need to harness the latent energy, wisdom of women in oil and gas industry

Knowledge driven Dr Dunni Owo is a founding partner and president of Women in Energy Oil and Gas (WEOG) Nigeria, a body designed to harness female talents in the oil and gas industry that has remained dormant. In this exclusive interview with Guardian Woman, Dr Dunni, a refinery guru and an award-winning author talks about her journey in the industry and her passion to support women in male-dominated industries.

NPA enforces measures to prevent coronavirus at seaports

The Nigerian Ports Authority (NPA) has embarked on measures to prevent and possibly curtail any case of coronavirus through the nation’s seaports.

As the world is currently faced with the deadly virus, the precautionary measures by NPA became pertinent, especially as the ports are entry points into the country.

Speaking at a sensitisation workshop on coronavirus at the Lagos Ports Complex (LPC), Managing Director, NPA, Hadiza Bala-Usman, said the authority would leave no stone unturned to ensure the disease does not spread through the maritime sector.

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FOREIGN WATCH

Stress Engineering Services launches new digital flex joint angle monitoring system

HOUSTON – Stress Engineering Services has developed a digital flex joint angle measurement system for monitoring real-time drilling operations.

The digital flex joint system uses the core technology of the award winning and patented real-time fatigue monitoring system (RFMS) and subsea vibration data logger (SVDL) system; the technology has been leveraged and improved to determine quasi-static and dynamic lower and upper flex joint angles in real-time. Data and power transmission are provided through the mux system; which is first successful system of its kind with minimal drift.

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Coronavirus crisis has ‘severe impact’ on global energy and oil markets

Global oil demand is expected to decline in 2020 as a result of the impact of coronavirus,

That’s according to the International Energy Agency’s (IEA) latest oil market forecast, which estimates annual demand at 99.9 million barrels a day in 2020, down around 90,000 barrels a day from 2019.

This is a decline from the IEA’s forecast in February, which predicted global oil demand would grow by 825,000 barrels a day in 2020.

The IEA has developed two other scenarios for how global oil demand could evolve this year. In a more pessimistic low case, global measures fail to contain the virus and global demand falls by 730,000 barrels a day in 2020. In a more optimistic high case, the virus is contained quickly around the world and global demand grows by 480,000 barrels a day.

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