Former President Olusegun Obasanjo has said the oil and gas sector can no longer sustain the nation in the face of burgeoning population. Obasanjo said this when he hosted the leadership of the apex socio-cultural group of the Tiv from Benue State, Mzough U Tiv (MUT) at his Olusegun...
oil and gas
The Minister of State for Petroleum Resources, Timipre Silva, has charged security agencies to end crude oil theft before the President Muhammadu Buhari-led administration ends on May 29. Silva gave the charge while addressing troops under Operation Delta Safe during his operational visit to military formations in Port Harcourt...
By EZEKIEL OBI, Abuja – The Socio-Economic Rights and Accountability Project (SERAP) has asked Rivers State Governor, Nyesom and other governors to disclose the spending of the oil derivation refunds of N625bn recently paid to them by the Federal Government. SERAP’s Deputy Director, Kolawole Oluwadare, in a statement issued...
The Declaration of Cooperation (DoC) between Organisation of Petroleum Exporting Countries (OPEC) Member Countries and 10 non-OPEC oil-producing countries turned six on Saturday Dec. 10, 2022. On this date in 2016, OPEC Member Countries and Azerbaijan; the Kingdom of Bahrain; Brunei Darussalam; Equatorial Guin; Kazakhstan; Malaysia; Mexico; Sultanate of...
The National Security Adviser (NSA), retired Maj.-Gen. Babagana Monguno, on Tuesday, inaugurated 11 man Special Investigative Panel on Oil Theft/Losses in Nigeria. The panel, which is chaired by the Interim Administrator, Presidential Amnesty Programme, retired Maj.-Gen. Barry Ndiomu, has seasoned administrators and retired top military and police officers as...
Chevron Nigeria Ltd. (CNL) says 1.4 billion dollars financing has been secured to fund the Nigerian National Petroleum Corporation (NNPC)/CNL Joint Venture (JV) infill drilling project from 2022 to 2026. CNL’s, General Manager, Policy, Government and Public Affairs, Mr Esimaje Brikinn made the disclosure in a statement on Friday....
The Senate has endorsed the N48billion oil pipeline surveillance contract by the Federal Government to Mr Government Ekpemupolo, alias Tompolo, a former Niger Delta militant leader. Sen.Albert Akpan, the Chairman, Senate Committee on Petroleum (Upstream) said this on Tuesday in Abuja, when he spoke with newsmen shortly after presenting...
Bayelsa government confirmed on Tuesday that it had been receiving refunds of arrears of 13 per cent oil derivation proceeds from the Federal Government. It did not state how much had been received, however. Tuesday’s confirmation by Bayelsa followed Rivers Gov. Nyesom Wike’s declaration and commendation for President Muhammadu...
The House of Representatives Ad hoc Committee Investigating the Structure and Accountability of Joint Venture (JV) Business and Production Sharing Contracts (PSCS) of Nigerian National Petroleum Corporation (NNPC) Ltd has summoned the Chairman of Federal Inland Revenue Service (FIRS). The Chairman of the service, Mr Muhammad Nami, was summoned...
The Group Managing Director (GMD) of the Nigeria National Petroleum Company (NNPC Ltd), Mr Mele Kyari, has said that he is receiving death threats as a result of the ongoing reformation in the NNPC. Kyari made this know on Wednesday in Abuja at the Legislative Transparency and Accountability summit...
An energy consultant, Ademola Adigun, says fingerprinting Nigerian crude supported with international advocacy will permanently address frequent crude oil theft in the country. Adigun said this in an interview with the News Agency of Nigeria (NAN) on Thursday in Lagos. According to him, fingerprinting is a process that gives...
Despite President Muhammadu Buhari’s recent signing into law, of the Petroleum Industry Act (PIA) on Monday August 16, 2021, after years of back and forth movement,- an Act which provides legal, governance, regulatory and fiscal framework for the Nigerian Petroleum Industry and development of host communities, my recent ‘sojourn’...
The Organisation of Petroleum Exporting Countries (OPEC) on Monday inaugurated its 2022 World Oil Outlook (WOO). The WOO was inaugurated at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2022 in the United Arab Emirates (UAE). ADIPEC is the global energy industry’s most influential meeting place which convenes...
The House of Representatives ad hoc committee investigating the structure and accountability of the Joint Venture (JV) businesses and production sharing contracts (PSCS) of the Nigerian Petroleum Corporation (NNPC) has accused oil companies of tax evasion. Rep. Abubakar Fulata, the Chairman of the committee said this in Abuja on...
The United Arab Emirates’ energy minister said on Monday that OPEC+ is keen on providing the world with the oil supply it needs. He said that the alliance of top producers would always be in a position to balance markets. OPEC+, which groups the producer bloc with allies including...
There are recorded events in the recent past that have proved beyond reasonable doubt that the nation Nigeria may not need gun boats to solve its problems particularly, in the oil rich Niger Delta region, notorious for crude oil theft and pipeline vandalism. Essentially, evidence has emerged and points...
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has cautioned Nigerians against panic buying of Liquefied Petroleum Gas (LPG), cooking gas, as a result of the force majeure declared by Nigeria Liquefied Natural Gas Ltd. (NLNG). Its president, Mr Oladapo Olatunbosun, made the appeal in a statement on...
For the bleeding economy to resurrect, there must be a battle for a man who has proven moral and sacred emblem of integrity, selflessness, true to self, focus and determination without fear of the unknown bullets of tomorrow. Yes, someone must be an example for others to follow. The...
The Liquified Petroleum Gas Retailers (LPGAR) says the shutting down of the Nigeria Liquefied and Natural Gas (NLNG) processing plant may lead to increase in cooking gas price. Mr Umudu Michael, National Chairman, LPGAR, branch of Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), told the News Agency...
Angola and Libya have for the second consecutive month maintained their lead over Nigeria as Africa’s highest crude oil producers, according to a report by the Organisation of the Petroleum Exporting Countries (OPEC). OPEC said this in its Oil Market Report for October, which was obtained by the News...