San Leon Energy Share Discussion Threads

[linksdean2] 09/3/2017 18:44

"He quoted NNPC’s monthly report as indicating that the total export proceeds of $175.04 million for the month of December 2016 was “remitted to fund the Joint Venture cash call for the month of December 2016 to guarantee current and future production."


FG gains $2.445bn from crude sales in 2016
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By Editor on Feb 19, 2017 Midstream

The Nigerian National Petroleum Corporation (NNPC), has disclosed that total export sales of crude oil and gas for the country from January to December 2016 stands at $2,445,451,363, The Sun reports.

According to a statement from the Group General Manager, Group Public Affairs Division, Ndu Ughamadu, the national oil firm recorded a total export sale of $195.40 million in crude oil and gas in December 2016 as against $166.18 million recorded in November 2016. The figure, he noted, is $20.22 million higher than the preceding month. NNPC, he added, also recorded a 13.4 per cent rise in oil and gas sales in December 2016 over sales in November 2016,” he said.

Ughamadu noted that crude oil export sales contributed $100.37 million (or 51.36 per cent) of the dollar transactions compared with $96.31 contribution in the previous month,” the report stated. He quoted NNPC’s monthly report as indicating that the total export proceeds of $175.04 million for the month of December 2016 was “remitted to fund the Joint Venture cash call for the month of December 2016 to guarantee current and future production.

[linksdean2] 09/3/2017 17:54

FG targets 3bscf/d from Bonny-Olokola-Lekki pipeline
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By Editor on Mar 2, 2017 Midstream

The the Chairman of Society of Petroleum Engineers (SPE) Nigeria Council, Dr Saka Matemilola, has said that the Federal Government is expecting three billion standard cubic feet per day (scf/d) when the Bonny-Olokola-Lekki gas pipeline takes off next year, The Nation reports.

Matemilola said the project would help in transferring gas from Bonny to Olokola and Lekki in Lagos. He said the power sector would bounce back if all went well with the project.

According to him, stakeholders, including the Federal Government, are banking on the project to improve the power sector and that the sector relies on 2bscf/d for generation, adding that increasing gas supply to 3bscf/d would have a significant effect on power.

He said three projects – gas, petrochemical and refinery – are within the Lekki Free Trade Zone, adding that the projects would have multiplier effects on the economy via creating direct and indirect jobs, boosting trade and the revenue of the government.

[linksdean2] 09/3/2017 17:43

" The managing director of Nigeria¡¦s state oil firm NNPC, Maikanti Baru said last week that Nigeria¡¦s oil production has risen to 2.1 million barrels a day."

Nigeria¡¦s recovery could end OPEC oil output cut exemption

By Editor on Mar 8, 2017 Upstream

When OPEC agreed to exempt Libya and Nigeria from its oil production cuts, market watchers said the two beleaguered countries¡¦ upside potential could complicate its attempt to accelerate the market¡¦;s rebalancing, Platts reports.

Both countries have ambitious aims to recover output following months of militant attacks on oil infrastructure that caused their production to plummet last year, as OPEC was negotiating the deal. But while Libya has seen a renewal of fighting that threatens to derail its recent fragile oil output recovery, Nigeria appears well on the way to full restoration of its output that could see it pressured by its fellow OPEC members to end its exemption from the production agreement. The managing director of Nigeria¡¦s state oil firm NNPC, Maikanti Baru said last week that Nigeria¡¦s oil production has risen to 2.1 million barrels a day.

The six-month deal, which expires in June, will be up for review at OPEC¡¦s next meeting on May 25, with some ministers saying the production cuts should be extended to continue drawing down global inventories. Nigeria¡¦s oil minister Emmanuel Kachikwu, following the last OPEC meeting on November 30 when the production agreement was signed, acknowledged that a fully-recovered Nigeria likely would be asked to share in the cuts. OPEC Secretary General Mohammed Barkindo has also said the organization is closely monitoring news from the two exempt countries.

[witheco] 09/3/2017 12:47

Probably nowhere anywhere near as low as is today. It was obvious when to get out of this share - many years ago when Ima and lanny etc use to post there drivel and nonsense. I would be absolutely sick if I had done what (you)LSD has and held on to them (even pretending to top up). Never mind though?.