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Federal Ministry of Petroleum Resources
The Minister of Information and Culture, Alhaji Lai Mohammed, has expressed optimism that the entire arbitration decisions and judgment debt of N9.6 billion against Nigeria by a UK court over a botched gas contract would be set aside.
Reprieve came the way of Nigeria on Thursday as a UK Commercial Court granted a stay of execution of the $9.6 billion judgment debt made against the country over a botched gas contract.
The battle between Nigeria and Process and Industrial Developments (P&ID) over the bid to stop the company from attaching the country’s assets to recoup the $9.6 billion arbitral claim it secured last month, is set to shift to the United Kingdom Appeal Court.
Dozens of protesters, on Tuesday, in Abuja expressed their dissaproval over the $8.9 billion arbitral award granted against Nigeria by a U.K court over a botched gas deal with a foreign firm, P&ID.
The Minister of State for Petroleum Resources, Timipre Sylva, says Nigeria must bring down the cost of production of its crude oil as the country is currently a laughing stock in the way it runs business in the oil and gas sector.
The Federal Government has linked the contract which led to a judgement debt of $9.6billion (N3.5trillion) to the administration of ex-President Goodluck Jonathan.
In recognition of a sterling performance in the oil and gas servicing industry, Managing Director of Lagos Deep Offshore Logistic Base (LADOL), Amy Jadesimi, has been named the oil and gas leading woman.
The National Executive Council of the Host Communities of Nigeria (HOSCON), a Niger Delta group representing oil-producing areas, has urged the federal government to begin the payment of gas flare penalties directly to the affected communities.
Federal Government’s oil revenues slashed by N11.52 billion used for the protection and repairs of 87-kilometre Trans Forcados crude oil pipeline in the Niger Delta in 60 days, document shows
The Group Managing Director, of Nigerian National Petroleum Corporation, Dr Maikanti Baru, has urged oil workers to halt their planned strike over a labour dispute involving Chevron Nigeria Limited management and the staff.
Oil and gas workers unions are threatening industrial action over alleged plans by the management of Chevron to circumvent labour contract guidelines to sack thousands of its workers.
The national leadership of Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and Petroleum and Natural Gas Senior Association (PENGASSAN) on Thursday accused Chevron Nigeria’s management of unilaterally sacking thousands of contract workers in defiance of established labour laws.
The Niger Government on Thursday said that it had approved N145 million for a consultation into determining the quantity of hydro-carbon (crude oil) deposit in the state.
The federal government says its annual expenditure on fuel subsidy has risen to over N1.4 trillion.
The Petroleum Technology Development Fund (PTDF) said it has completed arrangements to conduct a two-day training for officials in relevant agencies under the Federal Ministry of Petroleum Resources, and other key ministries, departments and agencies (MDA’s) on the completion of OPEC Annual Questionnaire for member countries.
The Federal Government on Friday said it had commenced a review of the pricing template for Premium Motor Spirit, popularly known as petrol. It noted, however, that the price of the product would remain unchanged.
Oil marketers on Wednesday agreed with the Federal Government to allow the pump price of petrol to remain at N145 per litre, reversing their previous stance on the pricing of the commodity.
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The pact was due to expire at midnight amid a sharp deterioration in ties between the two democracies and market economies that has alarmed Washington as it seeks to curb the threat from nuclear-armed North Korea.
The Peoples Democratic Party caucus in the House of Representatives led by Kingsley Chinda has condemned the recent elections held in Kogi and Bayelsa States, calling for visa ban and travel restrictions against those involved in the alleged manipulation, distraction and violence recorded during the exercise.
Emeritus Archbishop of Catholic Diocese of Abuja, Cardinal John Onaiyekan, on Thursday in Enugu lamented the general despair in the country, saying that long delayed and unfulfilled hopes are making people to give up on the viability of the Nigerian project.
Argentina legend Diego Maradona said he is to return as manager of Gimnasia y Esgrima La Plata - two days after he quit.
Christine Lagarde on Friday urged European countries to “innovate and invest” more to support growth at a time of global uncertainty, in her first major policy speech as president of the European Central Bank.
An Edo State High Court, Criminal Division has stopped an attempt by the Nigeria Police to withdraw criminal charges against the member-elect for Ovia North East I Constituency, Mr. Dunez Onaiwu Ugiagbe.
A mother of two, Mrs Janet Idowu Jegede has been detailed by men of Ekiti State Police Command for allegedly killing her husband, Mr. Jegede.
“Quid pro quo.” There’s no escaping the Latin phrase in America right now. It’s front and centre of impeachment proceedings against Donald Trump and omnipresent across airwaves and social media.
Barring any last minute twist of events, Governor Yahaya Bello of Kogi state is set to win his second term bid with a comfortable margin.
Herdsmen has extended their inhumane disturbances to the Federal University of Technology, Owerri (FUTO) as the school authority alleges their constant harassment on students in and outside the premises.