Author Archives: steph

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. […]

NNPC Loses N546 Bn to Failure of Reforms in Three Years

   Failure by the President Muhammadu Buhari-led administration to reform the oil and gas sector has pushed the Nigerian National Petroleum Corporation (NNPC)’s revenue loss to over N546 billion. The trend does not only represent the loss of potential revenue for government but also constitutes a major challenge for the 2018 budget expectations and implementation. […]

FG Stops Seplat’s Project over Alleged Violation of Nigerian Content Law

  The federal government through the Nigerian Content Development and Monitoring Board (NCDMB) has directed Seplat Petroleum Development Company Plc to suspend work on its ANOH Gas Plant project in Oil Mining Lease (OML) 53 over alleged violation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010 by using a UAE […]

NNPC earns N1.554 trillion from oil exports btw Jan 2017 and Jan 2018

  Nigeria’s oil and gas sector recorded total revenue of $4.29billion (N1.554trillion) from exports between January 2017 and January 2018.On a monthly basis, total export sale of $439.60million was recorded in January 2018, representing 1.79 per cent lower than the previous month. The Nigerian National Petroleum Corporation (NNPC), which made this known in its January […]

Kachikwu Seeks Speedy Approval of Oilfield Development Plans

  The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has urged oil and gas industry operators to collaborate with the industry regulators to ensure speedy approvals of Field Development Plans (FDPs) to attract investments to the oil and gas sector.   In his keynote address at a ‘Technical symposium on Field Development Plan […]