The Executive Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, has dismissed online reports linking the NRS to an imaginary fraud related to the Frontier Exploration Fund, calling it sponsored fake news. The report had alleged the transfer of $279 million from the Fund’s account to some unnamed...
Petroleum Industry Act
● Company engages Board of Trustees, traditional rulers in Akwa-Ibom on Ibom Field operations on PPL 236 Emadeb Exploration and Production Limited, a subsidiary of Emadeb Energy Group, has reaffirmed its commitment to fulfilling all obligations to the Emadeb-Eastern Obolo-Ibeno Host Communities Development Trust in line with the Petroleum...
There is a growing conversation around a possible amendment to the Petroleum Industry Act (PIA), and while every legislation should remain open to improvement, it is my considered opinion that this particular move is premature and ill-timed. The PIA, signed into law just in 2021, represents the most comprehensive...
Bashir Bayo Ojulari, a mechanical engineer versed in the ecosystem of oil and gas, has spent roughly four months on the beat as Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL). And if morning shows the day, as ideally it should, then the nation’s oil...
The House of Representatives Committee on Petroleum Resources (Downstream) has resolved to launch a comprehensive investigation into the state of Nigeria’s refinery rehabilitation projects. This resolution followed a special session and after reviewing numerous petitions and complaints from the general public over the matter. Chairman of the committee, Hon....
By MBAFAN ADE – The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in conjunction with the Securities and Exchange Commission (SEC), has issued licenses to JEX Market to establish and operate a Gas Clearing House and Settlement Authorization Platform. Described by stakeholders as one of the most strategic...