Timipre Sylva

Seplat Petroleum Development Company Plc, leading indigenous energy company, has identified its fast-growing gas business as a strong catalyst for sustainable development in Nigeria.

Chief Timipre Sylva, Minister of State for Petroleum Resources, says the passage of the Petroleum Industry Bill (PIB) will unlock several midstream gas opportunities and enhance domestic gas utilisation.

An advocacy group, Niger Delta Peace Dialogue Initiative, NDPDI, has described as tissues of lies the allegations of $25 million and $2 million bribe taking against the Minister of State for Petroleum Resources, Chief Timipre Sylva, and Executive Secretary, Nigerian Local Content Development and Monitoring Board, Chief Simbi Wabote, respectively.

The federal government yesterday inaugurated the National Gas Expansion Programme (NGEP) in the Southwest Nigeria as part of its efforts to make gas an alternative energy for industrial, transportation and domestic uses.

The Department of Petroleum Resources (DPR) on Monday flagged off the Oil and Gas Search, Rescue and Surveillance (SeRAS) Command and Control Centre in Lagos.

Members of the Independent Petroleum Marketers Association of Nigeria, IPMAN, have advised Nigerians to expect a higher petrol pump price in the coming days, saying the price may rise to N195 per litre.

Petroleum marketers are beginning to adjust the pump price of petrol to N170 per litre from between N161 and N165, according to a report.

The Nigerian National Petroleum Corporation (NNPC) has assured Organised labour and Nigerians that there will be no increase in the price of Premium Motor Spirit (PMS) also known as Petrol in the month February.

Oil prices yesterday maintained their upswing, hitting their highest in about 13 months on the back of vaccine rollouts expected to increase demand even as producers kept supply reined in.

The Minister of State for Petroleum, Mr. Timipre Sylva, on Monday disclosed that Nigeria will join the global community in achieving complete elimination of gas flaring by 2025.

The International Monetary Fund says Nigeria has expressed strong commitment to avoid the return of fuel subsidy and to put an end to electricity tariff shortfalls by June this year.

There are indications that oil exploration has dropped by 150 per cent in Nigeria in the past year, due mainly to the prolonged delay in the passage of the nation’s Petroleum Industry Bill, PIB, into law.

The Minister of State for Petroleum Resources, Mr. Timipre Sylva, has asked Nigerians to ready to endure the pain of another hike in the price of premium motor spirit, popularly called petrol, even as the country is also set to benefit from the rise in price of crude oil in the international market.

The Ministries of Petroleum Resources, Humanitarian Affairs, Water Resources, Power, Interior as well as Communications and Digital Economy are expected to make presentations at the 33rd virtual meeting of the Federal Executive Council (FEC).

The Federal Government has inaugurated the Nigerian Upstream Cost optimisation Programme (NUCOP) to drive down the cost of crude oil production in the country.

The N-Power, cash-for-work programme, inaugurated by President Muhammadu Buhari in 2016 with 500,000 of direct beneficiaries, is spread across the key industries targeted by the programme – Agriculture, Health, Education, and Tax.

The Organisation of Petroleum Exporting Countries, OPEC, and non-OPEC member States, have withdrawn 2.1 billion barrels of excess oil from the volatile oil market, thus raising hope on market stability.

The Technical Committee on Premium Motor Spirit (PMS) Pricing Framework has submitted its report to the Federal Government and the Organised Labour.

The Director and Chief Executive Officer of the Department of Petroleum Resources (DPR), Mr Sarki Auwalu, has said that the federal government is moving the headquarters of the industry regulator from Lagos to Abuja for the sake of centrality.

The National President of the Host Community of Nigeria Producing Oil and Gas, Benjamin Tamaranebi, on Sunday insisted that the 2.5 per cent, proposed in the Petroleum Industry Bill, being supported by the Minister of State for Petroleum Resources, Timipre Sylva, was not acceptable.

The Nigerian National Petroleum Corporation (NNPC) says it would do everything within its powers to ensure the timeous completion of the $3.6bn Integrated Gas Processing and Methanol Plant in Odioma, Brass Island, Bayelsa State.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, says the upcoming integrated methanol and gas project would create 30, 000 direct and indirect jobs in the country.