- Crude Oil prices per barrel - $96.13 in the US.
- NAPE May 2012 Technical meeting will be held on Wednesday 16th May 2012 by 11.00am at the Lagoon Restaurant, 1c Ozumba Mbadiwe Street, Victoria Island, Lagos. Topic is "Ocean Bottom Seismic (OBS) Applications and Acquisition Strategies". The speaker will be Dr. Kim Gunn Maver, the meeting is sponsored by RXT/Delta Plus.
- Nigeria is on the verge of a major fiscal crisis following massive theft of crude oil in the Niger Delta. While all attention has been focused on the activities of Boko Haram in Northern Nigeria, an unprecedented theft of crude oil is being perpetrated in the Niger Delta on a daily basis. Shell had recently warned that about $6 billion is lost yearly to crude oil theft. Two ships with 1.3million barrels of stolen crude were recently arrested.
- NAPE March 2012 Technical meeting was held on Wednesday 21st March 2012 by at the Nigerian Institute of International Affairs, 13/15 Kofo Abayomi Street, Victoria Island, Lagos. Topic was "Sleeping Giants - Unraveling Low Contrast Pay Opportunities" and the speaker was Chike Nwosu, Shell's Global Principal Technical Expert.
- AAPG President Dr. Paul Weimer has said countries involved in oil exploration and production need huge investment in new technologies. He said to make huge progress in the sector, there wa sthe need for unconventional approach to doing things. Weimer spoke during the NAPE February Technical meeting said most countries in America and Europe had leveraged on those unconventional methods and were currently reaping the rewards.
- The Executive Committee of NAPE invites members to the inauguration of the ABUJA CHAPTER of NAPE at the Transcorp Hilton Hotel, Abuja on Thursday 7th June 2012 by 11.00am. Speaker is Dr. Emmanuel Egbogah and Chairman of the occasion is Dr. Ebi Omatsola. Lecture Title is "Nigerian Oil and Gas: Yesterday, Today and a Guide for the Future".
- You are invited to participate at the forthcoming NAPE 30th Annual International Conference & Exhibition slated for 11th to 15th November 2012 at Eko Hotels & Suites, Victoria Island, Lagos. Theme for the Conference is "NIGERIA OIL & GAS EXPLORATION: THE NEXT FRONTIER".
- Out of the over N1.17 trillion collected as tax by the Federal Inland Revenue Service (FIRS) in the first quarter of 2012, Petroleum Profit Tax accounted for 72% of the money, the Acting Executive Chairman of the Service, Mallam Kabir Kashi has disclosed.
- Mr. George Osahon fnape, the NAPE President-Elect has been appointed a Member of the Technical Committee of the Special Task Force for the Implimentation of the Petroleum Industry Bill (PIB). The Technical Committee is chaired by Osten Olorunshola, Director, Department of Petroleum Resources (DPR). Other members include Senan Anthony, Umar Gana, ID Waziri, Victor Briggs, Francis Adigiwe, Victor Onyegba, Seyi Peterside, Hillary Nwokoko, and representatives of the Ministries of Finance, Justice as well as Federal Inland Revenue Service (FIRS) as members.
- Thank you for your participation at the NAPE 29th Annual International Conference & Exhibition which was held 28th November 2011 to 1st December 2011 at Eko Hotels & Suites, Victoria Island, Lagos. The Short Courses was held November 26th and 27th 2011 at the Peninsula Hotels, Lekki Phase 1, Lagos. Theme of the Conference was "PERSPECTIVES ON GROWING HYDROCARBON RESERVES IN THE NEXT DECADE".
- The Executive Committee of the AAPG and the AAPG Foundation Trustees are pleased to announce the hiring of David Curtis as the new Executive Director of the AAPG. Additionally, to respond better to the demands of the ever growing organization, the Executive Committee is creating the position of Deputy Executive Director and is promoting David Lange to this new post at the AAPG.
- Schlumberger has appointed Mr. Nosa Omorodion the General Manager, National Content Development for its Nigeria and Gulf of Guinea (NGA) Geomarket. The new GM is charged with stakeholders (Segments, Functions and Geography) to ensure that Schlumberger not only complies with Local Content requirements in NGA but moves local content from being a compliance burden to becoming a business growth opportunity.
- The Organization of Petroleum Exporting Countries (OPEC) is producing at its highest rate in two years. The 12-member group's crude oil production averaged 29.57 million bpd in January, up to300,000bpd from its totals in December.
- Oil exploration in Nigeria has slumped to the lowest in a decade after producers including Royal Dutch Shell Plc and Total SA backed away from investment until the country's petroleum law is passed. Just one exploration well was drilled in Nigeria in the past two years, the lowest since 1999, according to official figures released by the Petroleum Ministry. The number of wells peaked at 34 in 2002.
- Not withstanding the jabs the House of Representatives' oil subsidy probe report has received from certain quarters, the Lower Chamber is forging ahead with its resolve to get its recommendations implemented. From the court of public opinion, the house has taken its campaign for the implementation of the report to the Senate, which support the Lower Chamber sought for the prosecution of persons and organisations indicted in the finding.
- About 25 billion cubic metres of natural gas will be transported per year in the proposed Trans-Saharan Gas - Pipeline project which will be recovered from gas flaring in Nigeria.
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