Oil & Energy
NNPC To Resume Oil Exploration In Lake Chad Basin – Minister

The Minister of State for Petroleum Resources, Chief Timipre Sylva, says the Nigerian National Petroleum Corporation (NNPC) will soon resume oil exploration and drilling in the Lake Chad Basin.
Silva disclosed this while speaking to newsmen after an operational meeting on Chad Basin with the Chief of Army Staff and top officers and commanders of Nigerian Army in Maiduguri, recently.
The Tide recalls that oil search in the Chad Basin was suspended after a team of NNPC Frontier Exploration Services and their consultants from the University of Maiduguri were attacked and some of them abducted on July 25, 2017.
He said the decision to recommence exploration activities in the region was borne out of the successes so far recorded by the military in securing the region from the Boko Haram insurgents.
The minister commended the Chief of Army Staff, Lt. Gen. Tukur Buratai and the Nigerian Army for their resilience and gallantry in the quest to liberate the North East from insurgents as well as making the entire country safe and secure.
He said the meeting was to solicit for the collaboration of Nigerian army in ensuring that adequate security was provided for the team of experts that would carry out the exploration activities.
“The reason why we came here is to first and foremost thank the Chief of Army Staff and the Nigerian Army for the great job they have continued to perform in the North East.
“We believe that without their gallant activities here, we in Abuja will not also be leaving safely, neither will we be leaving safely anywhere in the world.
“Having thanked them, we also want to commence exploration and drilling activities here because we believe that there is relative peace in this area enough for us to continue drilling activities in the North East.
“As you may well know, we have found oil in Gombe and we believe that there is a lot of oil to be found in the Chad Basin, we have seen a lot of prospects in the Chad Basin and we want to commence exploration and drilling activities.
“That is why we are collaborating with Nigeria army to ensure that security is provided for activities to commence very soon,” he said.
Oil & Energy
Reps C’mitee Moves To Resolve Dangote, NUPENG Dispute

Oil & Energy
Increased Oil and Gas: Stakeholders Urge Expansion Of PINL Scope

Oil & Energy
Digital Technology Key To Nigeria’s Oil, Gas Future

Experts in the oil and gas industry have said that the adoption of digital technologies would tackle inefficiencies and drive sustainable growth in the energy sector.
With the theme of the symposium as ‘Transforming Energy: The Digital Evolution of Oil and Gas’, he gathering drew top industry players, media leaders, traditional rulers, students, and security officials for a wide-ranging dialogue on the future of Nigeria’s most vital industry.
Chairman of the Petroleum Technology Association of Nigeria (PETAN), Wole Ogunsanya, highlighted the role of digital solutions across exploration, drilling, production, and other oil services.
Represented by the Vice Chairman, Obi Uzu, Ogunsanya noted that Nigeria’s oil production had risen to about 1.7 million barrels per day and was expected to reach two million barrels soon.
Ogunsanya emphasised that increased production would strengthen the naira and fund key infrastructure projects, such as railway networks connecting Lagos to northern, eastern, and southern Nigeria, without excessive borrowing.
He stressed the importance of using oil revenue to sustain national development rather than relying heavily on loans, which undermine financial independence.
Comparing Nigeria to Norway, Ogunsanya explained how the Nordic country had prudently saved and invested oil earnings into education, infrastructure, and long-term development, in contrast to the nation’s monthly revenue distribution system.
Chief Executive Officer (CEO) and Executive Secretary of the Major Energies Marketers Association of Nigeria (MEMAN), Clement Using, represented by the Secretary of the Association, Ms Ogechi Nkwoji, highlighted the urgent need for stakeholders and regulators in the sector to embrace digital technologies.
According to him, digital evolution can boost operational efficiency, reduce costs, enhance safety, and align with sustainability goals.
Isong pointed out that the downstream energy sector forms the backbone of Nigeria’s economy saying “When the downstream system functions well, commerce thrives, hospitals operate, and markets stay open. When it fails, chaos and hardship follow immediately,” he said.
He identified challenges such as price volatility, equipment failures, fuel losses, fraud, and environmental risks, linking them to aging infrastructure, poor record-keeping, and skill gaps.
According to Isong, the solution lies in integrated digital tools such as sensors, automation, analytics, and secure transaction systems to monitor refining, storage, distribution, and retail activities.
He highlighted key technologies including IoT forecourt automation for real-time pump activity and sales tracking, remote pricing and reconciliation systems at retail fuel stations, AI-powered pipeline leak detection, terminal automation for depot operations, digital tank gauging, and predictive maintenance.
-
Maritime21 hours ago
Customs, MAN Consent On 4% FoB Exemptions, Manufacturing Support Measures
-
Rivers21 hours ago
IAUE Emerges Winner Of National Campus Debate, 2025
-
News21 hours ago
FUBARA: UNDERUTILISED SEAPORTS DENYING RIVERS ECONOMIC PROSPERITY ……..Hosts NPA Board, Mgt On Courtesy Visit
-
Opinion21 hours ago
94 Years From A Turning Point
-
Education21 hours ago
Don Advocates Equal Opportunity For Citizens
-
Politics21 hours ago
Anambra Guber: ADC Candidate Urges INEC To Tackle Vote Buying
-
Business21 hours ago
Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze
-
Maritime21 hours ago
Customs Wives Donate Mosquito Nets, Bedsheets To Hospitals In Ogun