The Nigerian National Petroleum Company (NNPC) Limited. has signed up as a participant of the United Nations Global Compact, thereby becoming the first state-owned oil company to join the global initiative. Group CEO of NNPC Ltd., Malam Mele Kyari,, signed the Letter of Commitment, at the ongoing UN General...
oil and gas
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has threatened to revoke the licences of oil operators who failed to remit the three per cent statutory fees to oil communities before September ending. The NUPRC management on Friday said its attention had been drawn to the agitation by host...
The Nigeria LNG Ltd. (NLNG) says the operation at its plant on Bonny Island is ongoing, despite a Force Majeure that is still in effect. It said that the Force Majeure, caused by the unavailability of major liquids evacuation pipelines, was due to acts of sabotage and vandalism...
By ORKULA SHAAGEE, Abuja – Nigeria can overcome the challenges of environmental hazards posed by the exploration activities in the Oil and Gas industry, particularly in the oil producing areas with the deployment of adequate machinery, including human and material resources. The Country is believed to have...
Some financial experts have urged the Federal Government to export more gas and agricultural produce as measures to enhance the contry’s external reserves.p They spoke in separate interviews with the News Agency of Nigeria (NAN) on Sunday in Lagos. Prof. Sherifdeen Tella, Head, Economic Department, Olabisi Onabanjo University (OOU),...
The National Oil Spill Detection and Response Agency (NOSDRA), has called on stakeholders in the petroleum industry to ensure the prevention of oil spillages in Nigeria. The Emir of Keffi, Dr Shehu Yamusa III, who is the Chairman, Governing Board, NOSDRA, made the call at a stakeholders’ meeting with...
Oil pollution in Bayelsa State was on the international focus on Tuesday as the report of the state’s Oil and Environmental Commission (BSOEC) was launched at the House of Lords in London. The 211-page report titled: “An Environmental Genocide: Counting the Human Cost of Oil in Bayelsa, Nigeria,” is...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it has intercepted an illegal Crude Oil Barge and arrested six suspected crude thieves in Warri, Delta State. Tantita Security Services Nigeria Limited, a private security contractor, engaged bythe NNPC Ltd. made the arrests. Speaking, Captain Warredi Enisuoh, Executive Director,...
Mr Mele Kyari, the Group Chief Executive Officer, Nigerian National Petroleum Company Ltd. (NNPCL), has called on African countries to take advantage of the implementation of the African Continental Free Trade Agreement (AfCFTA). Kyari said this would help to diversify their energy sources into a sustainable and low-carbon energy...
The Nigerian Upstream Downstream Regulatory Commission (NUPRC) says the Federal Government has concluded plans to explore alternative funding models for development of the country’s oil and gas resources. Mr Gbenga Komolafe, the Commission Chief Executive of NUPRC, said this on Monday during the opening ceremony of the Petroleum Technology...
The Nigerian National Petroleum Company Limited (NNPC Ltd) says it has so far spent over 1.1 billion dollars on the ongoing construction of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and Station project from its cash-flow. The NNPC Limited GCEO, Malam Mele Kyari said this on Monday while touring some of...
Shell Petroleum Development Company Nigeria Limited, TechnoOil Group, Schlumberger and other international and indigenous oil and gas companies emerged winners at the sixth edition of the Nigeria International Energy Summit (NIES 2023) Industry Awards. The annual prestigious NIES Energy Industry Awards is bestowed on individuals and organizations that cemented...
The Nigerian National Petroleum Company Limited (NNPC Ltd), says that energy security will rightly be achieved by the realisation of Nigeria’s Decade of Gas Initiatives inaugurated in 2021 by President Muhammadu Buhari. Malam Mele Kyari, Group Chief Executive Officer, NNPC Limited, said this on Wednesday in Abuja at the...
The oil market is heading for a significant shortfall of around two million barrels per day at the end of the year as a result of a production cut by major producers. The Organisation of the Petroleum Exporting Countries (OPEC) disclosed this on Thursday. In its monthly report for...
Like every new invention which comes with opportunities and challenges, the passage by the National Assembly and signing into law of the Petroleum Industry Bill into law about two years ago, by the President Muhammadu Buhari led Federal Government, after about 17years of protracted back and forth debates, was...
The Nigerian National Petroleum Company Limited (NNPC Ltd), says Nigeria’s domestic gas infrastructure network has capacity to transport 6.9 billion Standard Cubic Feet (BCF) of gas to support power generation and gas-based industries. Malam Mele Kyari, Group Chief Executive Officer (GCEO), NNPC Ltd., made this known on Thursday in...
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has unveiled six gazetted regulations to spur investment and economic growth in the midstream and downstream sectors of the petroleum industry. The News Agency of Nigeria (NAN) reports that the regulations which were unveiled on Wednesday in Abuja included the...
The Federal Executive Council (FEC) has approved N117 billion for the construction of Oloibiri oil museum in Bayelsa. The Minister of State for Petroleum resources, Mr Timipre Sylva, made this known when he briefed State House correspondents on the outcome of the council meeting, chaired by President Muhammadu Buhari...
President Muhammadu Buhari has approved the constitution of a 14-man Steering Committee on Petroleum Products Supply and Distribution management to find lasting solution to disruptions in the supply and distribution of petroleum products. The Steering Committee, which will be chaired by Buhari, has the Minister of State for Petroleum...
Many Nigerians with critical interest had hitherto believed that the advent of Nigeria’s Petroleum Industry Act (PIA) 2021, which was signed into law in the aforementioned years, and arguably the most audacious attempts to overhaul the petroleum sector in Nigeria, will solve the real and imagined challenges in the nation’s petroleum...