Oil & Energy
FG Assures Increased Investments In Oil Industry

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has reiterated the federal government’s commitment to increase investments in the Nigerian oil and gas industry.
Lokpobiri made the remark during his one-day familiarisation visit to the TotalEnergies’ Ofon and Egina offshore fields.
Received by top management of TotalEnergies led by its Managing Director, Matthieu Bouyer and the Deputy Managing Director (Deepwater Asset), Victor Bandele, among others, Lokpobiri commended the company for its contributions to the nation’s oil and gas sector describing it as ‘a shining example of what the federal government expects from international oil companies (IOCs)’.
According to a Statement made available to Newsmen, the visit was aimed at intimating the minister with TotalEnergies’ investment plans, ongoing projects and challenges faced by the company in the areas of capex and community relations.
Lokpobiri said “The federal government is very desirous to increase investment in the oil and gas sector to boost its production level. So, I must commend TotalEnegies for being a shining example of what the federal government expects from IOCs.
“So let us work together and see how we can improve the sector and continue to do what we can to support your company for our mutual benefit,” Lokpobiri stated”.
The minister noted that the government was not unmindful of the challenges faced by the IOCs assuring that it would take the necessary steps to address them accordingly.
”Let’s have a meeting, see where the problems are and arrive at a win-win situation.
“We are not trying to give problems to anybody, it’s going to be a win-win approach because government is not unreasonable to people’s problems,” he stated.
The Managing Director, TotalEnergies, Matthieu Bouyer, while lauding the minister for the visit, expressed the company’s readiness to partner the federal government in achieving its objectives of boosting production levels through the implementation of the various new projects lined up by the company.
Matthieu insisted that the projects, which he said are tied-back to existing fields would not only increase production but bring more revenue to the federal government.
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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.
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