Mr Tunji Oyebanji, Managing Director 11 Plc, says the huge amount being spent on fuel subsidy by the Federal Government is preventing investments in critical areas of the economy and worsening the unemployment situation in the country. Oyebanji said this at the yearly programme of the Institute of Change...
NNPC
Chevron Nigeria Limited, operator of the joint venture between the Nigerian National Petroleum Corporation Ltd., and Chevron has secured a $1.4bn financing to fund for infill drilling programme to run from 2022 to 2026. A statement by CNL’s General Manager Policy, Government and Public Affairs, Mr Esimaje Brikinn on...
The House of Representatives on Wednesday grilled Shell Petroleum Development Company of Nigeria, Total Energies and First E and P over alleged tax evasion. The companies appeared before the ad hoc Committee investigating the Structure and Accountability of the Joint Venture (JV) Business and Production Sharing Contracts (PSCs) of...
Chief Timipre Silva, Minister of Petroleum Resources, says one of the key mandates of the ministry is to grow oil reserves from the current 37 billion barrels to 40 billion barrels by 2025. Sylva said this on Tuesday at the official ground-breaking of the Oil Prospecting Licenses (OPLs) 809...
Gov. Dapo Abiodun of Ogun has expressed his administration’s readiness to collaborate with Nigerian National Petroleum Corporation (NNPC) to reconstruct the dilapidated Ogijo-Sagamu road. Abiodun made this known on Monday at the official inauguration of the four-kilometre Oba Erinwole road in Sagamu. He said that work would commence on...
Yoruba Council of Youth Worldwide (YCYW), on Thursday tasked the Nigerian National Petroleum Corporation (NNPC) Ltd, on ending reoccurring fuel scarcity in the country. Aare Hassan, President-General, YCYW, said this at a news conference in Abuja. “I wrote a letter to Mr Mele Kyari, the Chief Executive Officer, NNPC...
The House of Representatives Ad hoc Committee Investigating the Structure and Accountability of Joint Venture (JV) Business and Production Sharing Contracts (PSCS) of Nigerian National Petroleum Corporation (NNPC) Ltd has summoned the Chairman of Federal Inland Revenue Service (FIRS). The Chairman of the service, Mr Muhammad Nami, was summoned...
An energy consultant, Ademola Adigun, says fingerprinting Nigerian crude supported with international advocacy will permanently address frequent crude oil theft in the country. Adigun said this in an interview with the News Agency of Nigeria (NAN) on Thursday in Lagos. According to him, fingerprinting is a process that gives...
Despite President Muhammadu Buhari’s recent signing into law, of the Petroleum Industry Act (PIA) on Monday August 16, 2021, after years of back and forth movement,- an Act which provides legal, governance, regulatory and fiscal framework for the Nigerian Petroleum Industry and development of host communities, my recent ‘sojourn’...
The Independent Petroleum Marketers Association of Nigeria (IPMAN), Western Zone, has attributed the increase in the pump price of Premium Motor Spirit to the hike in private depot prices. Alhaji Dele Tajudeen, Chairman, IPMAN Western zone, disclosed this an interview with the News Agency of Nigeria (NAN) on Tuesday...
About 58 illegal oil points have been discovered so far since the operation to end oil theft on the waterways of Delta and Bayelsa states began Ex-militant leader, Government Ekpemupolo also known as Tompolo, said this in a press briefing at Oporoza on Sunday where he also gave an...
PATRICK ABANG Calabar – Against the backdrop of poor roads infrastructure in Nigeria, The Chairman, Senate Committee on Federal Roads Maintenance Agency (FERMA), Senator Gershom Bassey has called on the presidency to clear the N1 trillion owed the agency as backlog, adding that the agency needs about N300 billion...
An ad hoc committee of the House of Representatives on Tuesday queried the implementation of the Escravos gas-to-liquids (EGTL) Gas Project. The committee said the project which should cost 2.9 billion dollars was quoted as 10.7 billion dollars. The committee on the Joint Venture of the NNPC limited, raised...
The Nigeria National Petroleum Company (NNPC Ltd) is collaborating with the Office of the Vice President on establishment of Gas Funding Company Ltd for injection of 20 million cylinders in the next five years. The NNPC Ltd said the company’s establishment, which involved collaboration of other relevant stakeholders and...
The Nigerian National Petroleum Company Ltd has debunked claim of operating a secret account. NNPC’s spokesperson, Garba Deen Muhammad said reports credited to the House of Representatives ad hoc Committee set up to investigate “The structure, accountability and production sharing contracts of the NNPC from 1990 to date”, which allegedly found...
The Federal Government has announced the arrest of 210 suspects in its efforts to combat crude oil theft in the Niger Delta. The Minister of Information and Culture, Alhaji Lai Mohammed gave the figure on Friday in Port-Harcourt after undertaking an aerial assessment of some hotspots along the Right...
Chief Timipre Sylva, Minister of State for Petroleum Resources, says there are about 265 illegal refineries in the Shell Petroleum Development Company (SPDC) corridor alone as Nigeria continues to grapple with oil theft. The News Agency of Nigeria (NAN) reports that Sylva spoke at the 60th Anniversary of the...
By EZEKIEL OBI, Abuja – Operatives of the Nigeria Police attached to the Inspector-General of Police Special Task Force on Petroleum and Illegal Bunkering (I-G-STFPIB) have raided illegal petroleum refining site in Edo. The Force Public Relations Officer, CSP Olumuyiwa Adejobi said this in a statement on Sunday in...
The sixth annual conference of the Guild of Corporate Online Publishers (GOCOP) has continued to gain traction across sectors with partnerships being forged among key institutions in the country. Chairman, 2022 Conference Committee, Mr. Ken Ugbechie, disclosed that some notable institutions have firmed up their partnership for this year’s...
The Comptroller General of the Nigeria Customs Service, Col. Hameed Ali, has questioned the figures for the daily consumptions of Premium Motor Spirit (PMS), popularly known as petrol. According to Col. Ali, if the Nigerian National Petroleum Corporation puts daily consumption of PMS at 60 million litres, why does...