Author Archives: steph

‘Nigeria Requires Savings, Stabilisation Mechanisms’

  Stakeholders who gathered Thursday in Lagos in a roundtable on “Savings and Stabilisation Mechanism for Nigeria,” organised by the Shehu Musa Yar’Adua Foundation’s Oil Revenue Tracking Initiative (ORTI) have concluded that Nigeria would require a saving and stabilisation mechanism to absorb crude oil price volatility. This is coming as crude oil prices recorded their […]

Suntrust Oil Asks Court to Restrain San Leon Energy, Six Others from Parading Selves as Shareholders

  Suntrust Oil Company Nigeria Limited has asked a Federal High Court in Lagos to issue a restraining order against San Leon Energy Plc and six other respondents in respect of the ownership of the third respondent, Martwestern Energy Limited. Apart from San Leon Energy, which is the first respondent, the six other defendants in […]

‘Nigeria Requires Savings, Stabilisation Mechanisms’

Stakeholders who gathered Thursday in Lagos in a roundtable on “Savings and Stabilisation Mechanism for Nigeria,” organised by the Shehu Musa Yar’Adua Foundation’s Oil Revenue Tracking Initiative (ORTI) have concluded that Nigeria would require a saving and stabilisation mechanism to absorb crude oil price volatility. This is coming as crude oil prices recorded their largest […]

India largest importer of Nigeria’s crude oil in 2017 – NNPC

  India was the largest importer of Nigeria’s crude oil in 2017, a report by the state oil firm, NNPC has shown. The report, which identified Nigeria’s crude destinations all through 2017, showed that India imported over 131 million barrels of Nigeria’s crude. The second largest importer of Nigeria’s crude for the year was the […]

Marketers urge govt to remove VAT on cooking gas

The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has urged the Federal Government to remove Value Added Tax (VAT) on locally produced Liquefied Petroleum Gas (LPG) also called cooking gas. Its President, Nosa Ogieva-Okunbor, told reporters in Lagos that VAT payment on locally processed LPG makes it expensive and unattractive to imported LPG, which […]

Niger Delta Militants Almost Crippled Nigeria in 2015 – Kachikwu

  The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Wednesday indicated that but for the timely interventions of the government, first through back-channel consultations and then open dialogues with militants who resumed bombing of oil facilities in the Niger Delta in 2015, the country could have been crippled. Speaking through a podcast […]

Nigeria produces 3.054trn cubic feet of gas in one year

  The Nigeria’s gas production from January 2017 to January 2018 has reached 3.054.33 trillion cubic feet (tcf), representing an average daily production of 7.709.89 billion standard cubic feet per day (bscfd) during the period.   On a monthly basis, a total of 248.78 bcf of natural gas was produced in the month of January […]

NUPENG urges quick passage of other petroleum laws

  The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has called on the National Assembly to pass the other three petroleum laws pending before it. The National President of the union, Williams Akporeha, who stated this recently, also expressed concerns about the delay in passage of the three other components of the bill. […]