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Petroleum Industry

This follows the federal government’s decision yesterday to accede to the demands by the Academic Staff Union of Universities (ASUU) that they be exempted from the Integrated Payroll and Personnel Information System (IPPIS).

ASUU set to call off strike as Nigerian government exempts lecturers from IPPIS

This follows the federal government’s decision yesterday to accede to the demands by the Academic Staff Union of Universities (ASUU) that they be exempted from the Integrated Payroll and Personnel Information System (IPPIS).

NLC wants state of emergency in downstream sector

The Nigeria Labour Congress (NLC) has called for the reversal of the hike in fuel price announced last week by the government, saying the hike has worsened the misery of Nigerians.
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that more private and public sector collaboration will be encouraged as Nigeria steps up effort to realise its target of boosting domestic gas utilisation.

Timipre Sylva: President Buhari, ministers’ cars to run on gas

Vehicles in the Presidential Fleet and those of members of the Executive Council of the Federation would be converted to use gas as fuel, Minister of State for Petroleum Resources, Timipre Sylva, has said.

MOMAN: Tank fire won’t disrupt fuel supply

The Major Oil Marketers Association of Nigeria has said the recent fire outbreak at the depot of one of its members, OVH Marketing Limited, will not cause product supply disruptions.
The Senate has described as “erroneous” report that it approved fresh loan of N850 billion at the plenary on Tuesday.

Senate passes PIB for second reading

The Senate on Tuesday at plenary passed for second reading the Petroleum Industry Bill (PIB).
Speaker of the House of Representatives, Rep. Femi Gbajabiamila on the floor, moving a bill on the Repeal of Quarantine Act, 2004 at plenary yesterday at National Assembly Abuja. . Photo by Gbemiga Olamikan. 1

NASS: We have not received new PIB from Presidency

The National Assembly, NASS, has denied getting the new copy of Nigeria’s Petroleum Industry, PIB, from the Presidency.
The Petroleum Products Pricing Regulatory Agency (PPPRA) is set to commence a comprehensive audit and survey of downstream oil and gas logistic facilities, with a view to identifying the infrastructure gap in the sector

PPPRA: Previous administrations spent N8.9 trillion on subsidy in 10 years

The Petroleum Products Pricing Regulatory Agency, PPPRA, yesterday, disclosed that N8.9 trillion was spent on fuel subsidy by the Federal Government, mainly by previous administrations, between 2006 and 2015.
The Egyptian Ministry of Petroleum and Mineral Resources announced on Thursday a new oil discovery in the shallow waters of Geisum concession south of the Gulf of Suez, with an initial production rate of 2,000 barrels of crude oil per day.

Oil drops more than $1 after Saudi price cuts, demand optimism fades

The drop is coming after Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months as optimism about demand recovery cooled amid the coronavirus pandemic.
Managing Director, Total Exploration and Production Nigeria Limited, Mike Sangster, Tuesday, disclosed that passage of the Petroleum Industry Bill, PIB, would spur a new wave of investments by oil and gas companies in the Nigeria petroleum industry.

Total: PIB to drive new wave of investments in Nigeria’s oil industry

Managing Director, Total Exploration and Production Nigeria Limited, Mike Sangster, Tuesday, disclosed that passage of the Petroleum Industry Bill, PIB, would spur a new wave of investments by oil and gas companies in the Nigeria petroleum industry.
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that more private and public sector collaboration will be encouraged as Nigeria steps up effort to realise its target of boosting domestic gas utilisation.

Petroleum Industry Bill for presentation to National Assembly in few weeks – minister

Chief Timipre Sylva, Minister of State for Petroleum Resources, says the Petroleum Industry Bill (PIB) will be presented to the National Assembly in the next few weeks.

PPPRA: Deregulation will force down PMS price

The Petroleum Products Pricing Regulatory Agency (PPPRA) says full deregulation of the downstream oil and gas sector will help force down price of Premium Motor Spirit (PMS) also known as petrol.
The Petroleum Products Pricing Regulatory Agency (PPPRA) is set to commence a comprehensive audit and survey of downstream oil and gas logistic facilities, with a view to identifying the infrastructure gap in the sector

PPPRA: Why we still provide ‘guiding price’ for petrol despite ‘deregulation’

The Petroleum Products Pricing Regulatory Agency (PPPRA) says it is no longer fixing the pump price of Premium Motor Spirit (PMS) also known as petrol for marketers.
The requests contained in three separate letters read at the beginning of plenary on Tuesday by the Senate President, Ahmad Lawan. 2

PDP kicks as Senate okays President Buhari’s bid to borrow N850 billion

The upper chamber of the Nation­al Assembly on Tuesday approved President Muhammadu Buhari’s request to borrow the sum of N850 billion from the domestic capital market to finance projects in the 2020 budget.

Oil prices: Expert tasks Nigeria on prudent spending

Prof. Wumi Iledare, former President Nigerian Association of Energy Economics (NAEE), has advised the Federal Government to spend prudently to avoid breakdown of the nation’s economy as global oil price continues to crash.

Petroleum industry’s coronavirus donations hit N21 billion

Total petroleum industry donations for the fight against the COVID-19 yesterday hit N11billion as the Nigerian National Petroleum Corporation (NNPC) announced additional contributions of N11billion.

IPMAN hails automation of downstream sector

The Independent Petroleum Marketers Association of Nigeria (IPMAN) Kano unit, has commended the launching of the automation of the downstream sector of the petroleum industry.

OML 25: NNPC brokers truce between Shell, Belema Oil

The Nigerian National Petroleum Corporation (NNPC) with its joint venture partners, Shell Production Development Company (SPDC) and Belema OIL, have resolved the dispute on the operation of Oil Mining Lease (OML) 25.
Senate President Ahmad Lawan presiding over the second plenary of the 9th Senate having been inaugurated on Tuesday, the 11th Of June, 20197

Senate to probe Ijegun pipeline explosion

The Senate, yesterday, asked its Ad hoc committee probing the recent Rivers State explosion to extend its scope to last week’s pipeline explosion in Ijegun area of Lagos State.

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Henry Onyekuru to leave Monaco on loan in January

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Governor El-Rufai: Zoning won’t solve Nigeria’s economic woes

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