Nigeria playing huge leadership role in OPEC – Barkindo

  The Secretary General, Organisation of Petroleum Exporting Countries (OPEC), Dr. Mohammed Barkindo, says Nigeria has assumed a strong, proactive role in the oil industry globally.   Barkindo said this while delivering a keynote address at the 17th edition of the annual Nigeria Oil and Gas Strategic Conference and International Exhibition in Abuja on Tuesday. […]

Seven modular refineries boost Nigeria’s self-sufficiency drive

  Seven licensed refineries with the ability to process 181,000 barrels of crude oil per day (bpd) have progressed towards completion stage in their attempt to contribute to Nigeria’s self-sufficiency in petroleum refining. For example, the 5,000 bpd Waltersmith Refining & Petrochemical Company Limited’s modular plant, which is capable of producing naphtha, kerosene, diesel, and […]

‘$200m Content Fund for 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 […]

FAAC controversy: NNPC, states fight dirty over declining remittances

  The frosty relationship between the 36 states of the federation, the Federal Capital Territory (FCT) and the management of the Nigerian National Petroleum Corporation (NNPC) since March 2018 has continued to deteriorate steadily with Nigerian citizens including civil servants taking a hit unknown to many. At the heart of this ugly trend is the […]

No Crude Oil discovered in Bida Basin yet – NNPC

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru has debunked claims that commercial quantities of crude oil have been discovered in the Bida Basins.   He said that the Bida basin exploration have not advanced to the level of declaring discoveries talk less of claiming that the oil and gas […]

How Govt Loses Crude Earnings to IOCs Metering

The Federal Government’s reliance on the International Oil Companies (IOCs) to determine the quantity of oil production is negatively affecting the country’s crude earnings.   The Guardian had reported that the petroleum industry earned $276.642 billion (N84.6 trillion) in the last five years, and only N8.41 trillion of the sum was spent on budget from […]

Malabu Oil Deal – Court Grants Heda Judicial Review Against AG

A Federal High Court in Lagos has granted the request of a non-governmental organisation, Human and Environment Development Agenda (HEDA) Resource Centre, for a leave for a mandamus for a judicial review against the Attorney General of the Federation (AGF), Mr. Abubakar Malami in the case of the Malabu Oil and Gas deal.   HEDA […]

Irish Ambassador Attributes High Oil Output to Stability in Niger Delta

  The Irish Ambassador to Nigeria, Sean Hoy, has commended the Bayelsa State Government for its efforts at sustaining peace, and attributed the high oil production level in Nigeria to the current stability in the Niger Delta.   Speaking while receiving Hoy in Government House, Yenagoa, yesterday, the state Deputy Governor, Rear Admiral Gboribiogha John […]

PIGB: PENGASSAN Commends N’Assembly

  The President, Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Francis Johnson has commended members of the National Assembly for their commitment to the passage of the Petroleum Industry Governance Bill (PIGB). Johnson also urged the lawmakers to expedite action on the remaining parts of the PIGB for executive assent.   Johnson […]