Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

Pan Ocean’s gas pipeline project gets 2019 deadline

Fikayo Owoeye by Fikayo Owoeye
October 2, 2018
in Business News, Company News
Pan Ocean Limited, Nigeria to have 11 oil and gas pipelines operational by 2023 
Share on FacebookShare on TwitterShare on Linkedin

Pan Ocean Nigeria Limited, a major player in the oil and gas sector, has announced that its Amukpe-Escravos Pipeline Project will start delivering value in 2019.

The gas pipeline project which was jointly initiated by the NNPC and the company upon completion will boost the capacity of crude oil producers to export and also boost oil sector related infrastructure.

RelatedPosts

Customs seizes N1.3bn worth of smuggled goods in Ogun between May and June

Buhari Confers GCON title on Justice Tanko, ex-CJN

The gas project was started seven years ago and has already gulped several millions of dollars in finances which were made available by a consortium of Nigerian Banks led by Polaris Bank Limited (former Skye Bank Plc).

According to David Aboderin, General Manager, Gas/AEEP noted that when fully completed, investors and the Nigeria economy will feel the full impact of the assets as this will reduce the pressure on the 87-kilometre Trans Forcados Pipeline.

Recall that the recent disruption on the Forcados Pipeline forced major oil producers to lock-in output, a situation which caused the government considerable budget strains. According to Reuters, the Trans Forcados Pipeline was shut down for 305 days in 2016, and more than 182 days in 2017.

Another player in the oil and gas sector, Seplat Petroleum Development Company Plc recently revealed plans to focus more on expanding its domestic natural gas business to improve its profitability. The company revealed plans to commission its 160,000 barrels per day gas pipeline project by the end of this year. Seplat’s 2017 financial reports show the company’s total revenue was $452 million dollars (N81.11 billion) out of which $124 million was realised from gas sales.

The pipeline upon completion is expected to provide access to at least three export routes at their western assets and two of their eastern assets, thereby de-risking the distribution of their product to the market.

Pan Ocean Oil Corporation (Nigeria) Limited was incorporated in 1973. Since then, it has been operating as an exploration and production company in a Joint Venture with the Nigeria National Petroleum Company (NNPC), on-shore the northern fringe of the Niger Delta.

Related

Tags: David AboderinPan Ocean Limited

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Hot forex
Cornerstone
Mega Millions
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    •  Investors in MTN Public Offer gain N35 billion in 6 months
    • Crypto Focused Hedge Funds are Shorting USDT – Reports
    • Customs seizes N1.3bn worth of smuggled goods in Ogun between May and June

    Follow us on social media:

    Recent News

    : MTN-Nigeria-CEO-Karl-Toriola

     Investors in MTN Public Offer gain N35 billion in 6 months

    June 28, 2022
    Tether, the most promising stable coin, now the third most valuable cryptocurrency

    Crypto Focused Hedge Funds are Shorting USDT – Reports

    June 27, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com