Home Topics Petroleum Industry
There are indications that the Federal Government through the Nigerian National Petroleum Corporation, NNPC would be under more pressure to fund Nigeria’s petrol under-recovery or subsidy as the price of Bonny Light rises to $65 per barrel in May 2021.
A former minister of Lands, Housing and Urban Development in Nigeria, Nduese Essien, has said that allowing oil-producing communities to participate in Nigeria’s petroleum industry would be the best option for the development of the troubled Niger Delta region.
A member of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), Alfred Egba, has said the honorary Doctoral degree conferred on the Minister for State, Petroleum Resources, Chief Timipre Sylva, was an appreciation of the minister’s contributions to the national development.
The Managing Director of Rain Oil Limited, Dr. Gabriel Ogbechie, has advocated the need for the Federal Government to fully deregulate the nation’s downstream sector of the petroleum industry.
The Director of the Department of Petroleum Resources, Engr. Sarki Auwalu, has disclosed that the department generated N2 trillion for the country in 2020, despite the downturn in the oil and gas industry caused by the Covid-19 pandemic.
Deputy President of the Senate, Senator Ovie Omo-Agege, has disclosed that Nigeria has lost $235 million due to the long delay in the passage of the Petroleum Industry Bill (PIB).
Civil society groups on Saturday pushed for complete deregulation of the downstream sector of the petroleum industry that allows markets forces to determine the pump price of petrol and other petroleum products in the country.
The Department of Petroleum Resources (DPR) has denied media reports that it offered employment to President Muhammadu Buhari's media aide, Bashir Ahmad.
Marketers of petroleum products under the aegis of Major Oil Marketers Association of Nigeria (MOMAN) have called for a joint action of stakeholders in the Nigeria economy to find ways to mitigate adverse effects of the imminent increase in the price of petrol.
The Department of Petroleum Resources, DPR, Tuesday, disclosed that it plans to upgrade operations in the downstream petroleum industry, leveraging on its ongoing automation process.
The Department of Petroleum Resources (DPR), yesterday, disclosed that majority of the crude oil theft recorded in the country’s petroleum industry occur in the inland terminals, noting that it is practically impossible to steal crude oil from the offshore terminals.
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.
Oil prices climbed on Tuesday as optimism that government stimulus will buoy global economic growth and oil demand trumped concerns that renewed COVID-19 pandemic lockdowns globally could cool fuel consumption.
Vice President Yemi Osinbajo has charged stakeholders in the oil industry to find a way of producing oil cheaper at the largest volume possible given the circumstances and future of oil itself and the country’s of requirements and needs.
Following fears that Nigeria may have returned to the era of petrol subsidy payment, the Federal Government has been accused of lacking policy clarity in the deregulation of the downstream sector of the petroleum industry.
The Lagos Chamber of Commerce and Industry (LCCI) has urged the National Assembly to ensure the passage of a competitive Petroleum Industry Bill (PIB) that would make Nigeria an investment destination of choice.
The Federal Government says it will leverage the opportunities provided by the African Continental Free Trade Area Agreement (AfCFTA) to reposition the oil and gas sector.
The Federal Government has inaugurated a Technical Committee for the monitoring of Premium Motor Spirit (PMS) price framework in the country.
The Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Mele Kyari, has disclosed that Nigeria remains one of the most expensive countries in the world for petroleum upstream projects.
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).
The Nigeria Cricket Federation (NCF) said it invited 40 women to resume camp ahead of the Kwibuka Women Invitational tournament in Kigali, Rwanda.
Ondo State Government has given taxi drivers operating in the state, three months within which to register with the State Information Technology Agency (SITA), where their biodata would be captured.
A Russian woman was deported from Bali on Wednesday for violating (COVID-19) rules after she had entered a supermarket with her face painted to look like she was wearing a mask.
The Chairman, All Progressives Grand Alliance (APGA) in Abia State, Augustine Ehiemere, said the party will no longer issue tickets to “political party gamblers”.
Former Cameroon head coach Hugo Brooks has confirmed contact from the South African Football Association regarding the Bafana Bafana coaching job.
‘Those who live by the sword die by the sword’, goes a popular saying. That turned out to be story of Auwal Daudawal, a bandit leader that returned to his vomit after he presumably turned a new leaf.
Four persons lost their lives in a ghastly auto crash at the Spera-en-deo junction of the Ogoja-Abakaliki-Enugu federal highway on Monday evening.
The Nigeria Centre for Disease Control (NCDC) has registered 55 new cases of COVID-19, bringing the total number of infections in the country to 165,110.
The Independent National Electoral Commission (INEC) yesterday commenced a nationwide verification exercise for centres proposed for voting units to be converted to polling units across the country.
Dr Ahmed Audi, Commandant General, Nigeria Security and Civil Defence Corps (NSCDC) has encouraged personnel to get the COVID-19 vaccine as he received the AstraZeneca jab.