Nigeria to probe state oil company

  Nigerian legislators voted on Tuesday to probe the state oil firm over a shortfall in revenue remittances to government coffers, in a motion passed by the lower house of parliament.   In June, Nigeria’s finance minister called the Nigerian National Petroleum Corporation’s (NNPC’s) payments to the government account “unacceptable”, as they were less than […]

Govt Reads Riot Act to IOCs, Other Oil Firms Over Unfair Labour Practices

The Federal Government Tuesday read a riot act to multinational oil firms and other oil companies in the nation’s oil and gas sector over upsurge in unfair labour practices.       It will be recalled that Nigeria Union of Petroleum and Natural Workers, NUPENG and its Petroleum and Natural Gas Senior Staff Association of […]

PENGASSAN accuses Petrobras of engaging in anti-labour practices

  The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has sent a warning signal to investors against purchasing of any assets from an oil firm, Petrobras Nigeria Limited, over alleged anti-labour practices. PENGASSAN alleged that the company has been involved in anti-union practices such as severance of workers without due process, refusal […]

FG to commence $200m Nigerian Content Fund probe

  The Federal Government has said it will commence forensic audit of oil companies’ contributions to the Nigerian Content Development Fund (NCDF) in which $200 million had been committed.   The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), custodian of the fund, Simbi Wabote, stated this at the 17th strategic Nigeria Oil and […]

Billionaire Dangote Readies Oil Refinery Near Lagos for 2020

  Africa’s richest man, Aliko Dangote, plans to start selling gasoline, diesel and aviation fuel by early 2020 from an oil refinery he’s building near Lagos, Nigeria’s commercial capital.   The $10 billion refinery, set to be one of the world’s largest and process 650,000 barrels of crude a day, should be near full capacity […]

NNPC May Take Final Decision On NLNG Train Seven This Year

  The Group Managing Director of the Nigerian National Petroleum Corporation, (NNPC) Maikanti Baru, has said a Final Investment Decision (FID) on the additional eight Million Tonnes Per Annum Nigeria LNG Train 7 Plant will be reached before the end of this year.   This is not the first time NNPC is making this claim, […]

Buhari Has Never Called Me to Allocate Oil Blocks, Contracts – Minister

  President Muhammadu Buhari has in the last three years not made attempts to get the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, to discretionarily allocate oil blocks or contracts to any of his associates, the minister claimed Tuesday.   Speaking at the ongoing 2018 edition of the Nigeria Oil and Gas (NOG) […]

Solid minerals resources as effective means of exiting the crude oil curse

  Nigeria’s solid minerals sector accounts for about 0.3 per cent of its Gross Domestic Product (GDP) due to the over-dependence on crude oil resources. The domestic mining industry is still at the developing stage, leading to the importation of minerals that could be produced in the country. Roseline Okere, Assistant Editor, Energy & Solid […]

NNPC to increase crude oil reserves to 40bn barrels by 2020

  THE Nigerian National Petroleum Corporation (NNPC) has said it plans to increase Nigeria’s crude oil reserves to 40billion barrels by the year 2020 from the current 37billion barrels reserves.       Speaking at the Nigerian Oil and Gas Conference in Abuja on Tuesday, the Group Managing Director (GMD), NNPC, Dr Maikanti Baru, stated […]