The much anticipated first ever crude oil export cargo from the Aje field, offshore Lagos, will be shipped to the United Kingdom in September.
Following the commencement of the first oil production at the Aje field in May 2016, Panoro Energy, the London-based energy firm in partnership with operator Yinka Folawiyo Petroleum Company Limited (YFP), announced in July that the first crude oil lifting for export from the Aje field would begin by the end of August.

The company, while announcing its second quarter 2016 results and operations updates on Tuesday, however said it expected to sell the first cargo of Aje crude during September and that Glencore Energy UK Limited had been selected for its offtake.
The firm confirmed that Nigerian regulators recently officially approved production and the export sale from Aje.
It said in the update that the average gross daily production at Aje as calculated from May to mid-August was 5,500 barrels of oil per day (bopd), which included the entire testing, commissioning, and approval period completed in mid-July.
Commenting on the results and update, the CEO of Panoro Energy, John Hamilton, said achieving oil production at Aje in the second quarter was a milestone for the company.
“We expect to sell our first cargo of oil during September, representing the start of positive cash inflows from the Aje project.
“Realising the full potential at Aje is the key priority for the company and we remain focussed on moving the Dussafu project forward in Gabon,” he said.
Governor Akinwunmi Ambode had in May announced that Lagos had officially joined the League of Oil Producing States in Nigeria following the discovery of crude oil by YFP in the state.


http://www.dailytrust.com.ng/news/business/uk-to-receive-first-cargo-of-lagos-oil-in-september/160289.html

[img]http://yawnaija.tv/wp-content/uploads/2016/07/lagos-seal.jpg[/img]

eko o ni baje o.....

While I rate this development as a positive one, I think we need sit down as country and do soul searching regarding how the proceeds of oil has been (mis)managed in the past 50 years.
We can't just keep selling oil to earn dollar then spend the dollar on rice and toothpick importation. Today people think it is govts responsibility to provide dollar with which they import everything and are ready to fight the govt for it.
Anyway, congrats to Lagos and Nigeria but we need serious re-evaluation and re-orrientation.

Finally some good news...

news good some finally

50 GALLONS OF OYEL BA?


not up to the well of oyels i got in my backyard in the village


i need one gallon please

abokibuhari:
50 GALLONS OF OYEL BA?


not up to the well of oyels i got in my backyard in the village


i need one gallon please

With the right investment mentality 50 gallons of oil is alot of capital. Our consumption mentality hasn't allow the billion of gallons sold to reflect in our life.

With Huge Gas Reserves of 650bcf, Lagos Joins Oil Producing States

Of greater significance also is the disclosure that the oil field holds untapped reserves of about 650 billion cubic feet (bcf), which if harnessed in two to three years’ time, according to a company source, could supply Lagos, Nigeria’s commercial hub, all the gas feedstock it needs for the thermal power stations and other manufacturing concerns domiciled in the state and its environs.

http://www.thisdaylive.com/index.php/2016/05/05/with-huge-gas-reserves-of-650bcf-lagos-joins-oil-producing-states/

Love this part.....Lagos state is moving fast ahead..

BTW, we still collect our 13% Derivation too.

aresa:
With Huge Gas Reserves of 650bcf, Lagos Joins Oil Producing States





Love this part.....Lagos state is moving fast ahead..

BTW, we still collect our 13% Derivation too.

It will help deliver gas to power plants around Lagos and neighboring states as well as countries.
Btw, are you for or against Lagos? Why celebrate 13% that has been proven to be injustice? I am suspecting you.

Why Lagos oil now? So its nomore Nigerian oil?
Yoruba and hypocrisy are like bread and butter.

Sibrah:
It will help deliver gas to power plants around Lagos and neighboring states as well as countries.
Btw, are you for or against Lagos? Why celebrate 13% that has been proven to be injustice? I am suspecting you.

What is injustice?

masterpower:
Why Lagos oil now? So its nomore Nigerian oil?

Yoruba and hypocrisy are like bread and butter.

Don't you people shout Niger Delta oyel all the time and how Niger Delta oil money ends up in Lagos and Abuja? Or all of a sudden we don't have Naija Delta oyel?

aresa I always love your post because u always kill Igbos with goodnews coming from the southwest

aresa:


What is injustice?

13% derivation

Oil in Lagos,
Oil in Ogun,
Oil in Ondo,
Oil in Jebba,
Oil in Lokoja.

Yorubaland, the land of Milk and Honey.
May Edumare continue to bless this race with abundance and prosperity, Ase!

Sibrah:
13% derivation

Your opinion.