Oil

Delta State Governor, Dr Ifeanyi Okowa, Monday, said despite the COVID-19 pandemic, security and economic challenges, Nigeria as a nation is still on course.

Lawan stated this on Monday while delivering his remarks at a two-day public hearing on PIB organised by the Senate Joint Committee on Petroleum Sector (Downstream); Petroleum Resources (Upstream); and Gas.

President of the Senate, Senator Ahmad Lawan has said that the National Assembly is a hurry to pass the Petroleum Industry Bill, PIB first quarter of this year because Nigeria has lost a lot of resources following the non-passage of the Bill.

Indonesia said its coast guard seized the Iranian-flagged MT Horse and the Panamanian-flagged MT Freya vessels over suspected illegal oil transfer in the country’s waters on Sunday.

The Central Bank of Nigeria (CBN) has directed banks to deny exporters with unrepatriated export proceeds from accessing all banking services by January 31.

Seplat Petroleum Development Company has asked the Legal Practitioners Privileges Committee (LPPC) and the Legal Practitioners Disciplinary Committee of the Nigerian Bar Association (NBA) to sanction a Senior Advocate of Nigeria, Mr. Kunle Ogunba, for alleged gross misconduct and unethical practices contrary to the Rules of Professional Conduct for Legal Practitioners 2007.

Preliminary investigations into the January 16, 2021 oil leak near Funiwa offshore facilities. off the Atlantic coast have commenced with a visit by Bayelsa government officials, regulatory agencies and representatives of impacted communities.

Naira strengthened against the U.S. dollar on Thursday at the Investors & Exporters (I&E) window of the foreign exchange market, data from the FMDQ Security Exchange where currencies are officially traded showed.

The Chief Executive Officer of the Nigeria Export Promotion Council (NEPC), Mr. Segun Awolowo has said that Niger State is playing a significant role in the realisation of the federal government’s plan of economic diversification from its traditional reliance on oil as the sustainer of the economy.

Stakeholders in Delta state have identified politicians as the most powerful actors involved in conflict, violence and insecurity in the state and herdsmen with backers in the Police and Army, as key actors in law-breaking.

Ghana’s oil reserves is left with about 2.5 billion barrels more to be produce if new oil discoveries are not found.

“The distribution is as follows: Federal Government got N23.904 billion, the States received N79.682 billion, Local Government Councils got N55.777 billion while Cost of Collection by FIRS and NCS is N6.854 billion and allocation to NEDC project amounted to N5.141 billion.”

United States President Joe Biden has signed a string of executive orders, memorandums and directives that will reverse some of his predecessor Donald Trump’s most divisive policies, including rescinding the so-called “Muslim ban”, rejoining the Paris climate accord, and ending the process to withdraw from the World Health Organization (WHO).

Festus Marinho, the first group managing director (GMD) of Nigerian National Petroleum Corporation (NNPC), died at age 87 on Tuesday.

Lekoil Nigeria Limited, the oil and gas exploration and production company and affiliate of Lekoil Limited Cayman, has announced the appointment of Mrs. Aisha Muhammed-Oyebode as Chairman of the Board.

Incoming U.S. president Joe Biden will announce America’s return to the international Paris Agreement to fight climate change on Wednesday, the centerpiece of a raft of day-one executive orders aimed at restoring U.S. leadership in combating global warming.

The Nigerian government spent N1.85 trillion on food imports in 2020 after it closed the country’s land borders, the chairman of the presidential economic advisory council, Doyin Salami, has said.

As reactions continue to trail appointment of Barrister Effiong Akwa as Sole Administrator of the Niger Delta Development Commission, NDDC, a group, the Oron Union has lauded President Muhammadu Buhari for settling for a man they described as “a leader with capacity and capability to effectively confront the developmental challenges bedeviling the region.”