December 16, 2017

Oil and gas industry worker death rate down by a third

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(HealthDay)—Even as the oil and gas extraction industry in the United States boomed, there was a decline in the rate of worker deaths, a new federal government study shows. From 2003 to 2013, the oil and gas extraction industry workforce more than doubled and the number of drilling rigs increased 71 percent, the U.S. National Institute for Occupational Health and Safety said. During that time, the number of oil and gas extraction industry worker deaths rose, but there was a 36 percent decrease in the rate of worker deaths. The report noted an average of 108 death per year for…

Nigeria loses $25bn in oil sector to uncontrolled weights, measures annually

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  At a time the Federal Government is clamouring for plugging of leakages to address economic shortfalls, bureaucracy caused by absence of weights and measures are making the country incur an operational loss of $25 billion annually in the oil and gas sector alone. A break-down of these losses shows that $7.5 billion is lost yearly to 10 percent error margin, usually occasioned by indirect losses due to measurements not controlled by Legal Metrology of the Federal Government, while $17.4 billion (400,000 barrels per day) is stolen, owing to absence of credible measurement in the industry, according to experts. Absence…

Venezuela, Russia’s Rosneft agree on $14 billion oil, gas investment| Reuters

Venezuela's President Nicolas Maduro speaks during the opening ceremony of a new avenue and inauguration of a public transportation route with Yutong brand buses in Los Teques, Venezuela May 16, 2015. REUTERS/Marco Bello - RTX1D9XA

Venezuela and Russia’s top oil producer, Rosneft, have agreed on around $14 billion in investment in the South American OPEC country’s oil and gas sector, President Nicolas Maduro said. Maduro met the chief executive of state-owned Rosneft, Igor Sechin, on Wednesday, in the company of the president of state oil company PDVSA [PDVSA.UL], Eulogio del Pino, and National Assembly boss and Socialist Party No. 2 Diosdado Cabello. “We had a great meeting and agreed on investment of over $14 billion,” Maduro said on Wednesday evening in a televised broadcast, adding the funds would go toward doubling Venezuela’s oil production. PDVSA…

Adelos unveils distributed acoustic sensor solution for upstream oil & gas

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POLSON, Montana – Adelos Inc. has introduced Adelos 2.0, a fiber optic sensor system designed and optimized for commercial acoustic applications, including upstream oil & gas operations. Deployed as a system of systems, Adelos 2.0 adds value to oil and gas sectors, such as hydraulic fracturing (fracing), through a world-class combination of fiber optics sensors, advanced classification algorithms and real-time data processing. “The Adelos 2.0 acoustic sensing solution brings smarter, real-time downhole data collection and analysis to the oil patch,” said Adelos Inc. President Scott Colton. “The acoustic signal fidelity and accuracy of the Adelos system are unrivaled in the…

North-east homeless project given vital donation by oil and gas giant

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A vital north-east charity is offering an improved service for its users, thanks to a donation from an oil and gas giant. Aberdeen Cyrenians – which provides support for homeless people in the area – now has three refurbished soundproof meeting rooms, paid for by Exxon Mobil. About 20 people use the rooms each day as part of the charity’s drop-in service, getting advice and information from support workers as well as essential items such as food parcels and clothes. The rooms will also be used by the charity’s other community schemes, including the Violence Against Women Project and the…

Rudolf Huber: Is the Nigerian fuel crisis the mother of energy opportunities?

Rudolf Huber

The news about the current Nigerian fuels crisis is already spreading beyond the realms of the Gulf of Guinea. It is said that this one is the worst since anyone can remember. This is truly not an enviable legacy for the outgoing president Goodluck Jonathan. Could the incoming Nr. 1, president elect Buhari, be more successful in tackling this rampant crisis? Let’s not forget that this is not the only big problem he inherits from his predecessor. But as any educated person knows well – crisis equals opportunity. Where is the opportunity in this fuel crisis then? About 10 days…

Chevron to release documents in lawsuit over Nigerian oil leases

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Chevron USA and BNP Paribas agreed recently in District Court in Texas to turn over documents and correspondence between the two companies and other entities to the Nigerian oil company that has sued Chevron over the sale of three oil mining leases in the Niger Delta. The agreement came during a hearing April 27 in a lawsuit filed in Houston by Brittania-U Nigeria Limited. In the lawsuit, Brittania-U accuses Amni International Petroleum Development Company Limited, Belema Oil Producing Limited and other entities of ‘tortious interference’ for allegedly raising questions about Brittania-U’s ability to pay for the leases during a bidding…

Seven Energy Seeks Nigeria Partnership to Boost Gas – Bloomberg Business

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Nigeria’s Seven Energy International Ltd. may seek to enter partnerships with other companies to expand gas production to meet rising demand from power plants and industries in Africa’s largest economy. “The company has had a few discussions with indigenous companies,” Chief Operating Officer Jeff Corey said in a May 22 interview in Lagos, Nigeria’s commercial capital. Seven Energy, based in Lagos, plans to increase gas output more than fourfold to 500 million standard cubic feet (14.2 million cubic meters) per day by 2019 from 110 million, Corey said. Meeting that goal is dependent on getting access to reserves and raising…

Nigerian govt paying $800 million to oil suppliers to end fuel crisis crippling economy | Fox News

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LAGOS, Nigeria –  Oil suppliers say Nigeria’s outgoing government has agreed to pay $800 million to end a fuel crisis crippling the economy just days before the inauguration of a new president Friday in Africa’s biggest oil producer. Chaos reigned Tuesday at Nigerian airports, where most flights were cancelled due to the shortages. Cars and other vehicles formed queues of more than 2 kilometers (1 mile) outside of gas stations. Banks closed at lunchtime and cellphone companies warned they would be forced to shut down service countrywide for a lack of diesel to fuel generators. The Independent Petroleum Marketers Association…

Nigerian energy company plans trucking gas to industrial customers – International | IOL Business

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Elisha Bala-Gbogbo Lagos Oando, a Nigerian energy company, is building a business to truck natural gas to industrial users whenever they are cut off from pipeline supply, an executive said. “We’re basically creating a market for the future,” Bolaji Osunsanya, chief executive of Oando Gas & Power, said on May 19 in Lagos. “Markets that otherwise you won’t have been able to use pipelines to serve, today it is possible to truck compressed natural gas there.” Oando is investing $36 million (R429m) to build three gas compression plants in the country’s southern industrial belt within a year to produce 20m…