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Oil sector divestments already boosting Crude output – Minister

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, on Tuesday stated that the recent wave of divestments in Nigeria’s oil and gas sector is already delivering positive results, particularly in boosting crude oil production. He noted that divestments are a normal aspect of the energy industry and expressed satisfaction that, under President […]

Energy

Nigeria reaffirms commitment to $5b Africa Energy Bank launch 

The Federal Government on Thursday reiterated its commitment to the swift launch of the $5 billion Africa Energy Bank, an initiative under the African Petroleum Producers’ Organisation. In a post on his X account, he Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, stated he led the Nigerian delegation to a meeting where […]

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Oil sector deregulation tough, Nigerians now benefiting – Minister

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, stated on Tuesday that the full deregulation of the downstream oil sector by President Bola Tinubu’s administration is already benefiting Nigerians. Speaking in Abuja during a visit by the leadership of the Petroleum Products Retail Outlets Owners Association of Nigeria, Lokpobiri acknowledged that while […]

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Minister, NUPRC disagree on oil production goals

The Minister of State for Petroleum Resources, (oil) Heineken Lokpobiri, and the Nigerian Upstream Petroleum Regulatory Commission have differing perspectives on the commission’s goal of boosting oil production by an additional one million barrels per day within 12 to 24 months. The initiative which aims to boost Nigeria’s energy output and support economic growth by […]

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TotalEnergies to finalize investment deal in north offshore project – Lokpobiri

The Minister of Petroleum Resources, Heineken Lokpobiri, has announced that TotalEnergies is prepared to finalize an investment deal in the North Offshore project, along with joint ventures with Shell Petroleum Development Company and the Nigerian National Petroleum Company Limited. Lokpobiri made this disclosure after a meeting with the President of TotalEnergies, Mr. Nicolas Terraz in […]

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Lagos FPSO facility to enhance crude oil output – Petroleum minister

The Minister of Petroleum Resources (Oil), Heineken Lokpobiri, has announced that the Floating Production Storage and Offloading facility in Lagos, a joint venture between NNPC Limited and Century Nigeria Limited, is nearing completion. This facility is set to contribute an additional 40,000 barrels per day to Nigeria’s crude oil production. Lokpobiri made this statement during […]

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Keyamo, Lokpobiri to unveil largest aviation fuel depot Oct 17

The Minister of Aviation and Aerospace Development, Festus Keyamo, and the Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, are set to unveil a 15 million-litre aviation fuel depot near the Murtala Muhammed International Airport road in Lagos. Scheduled for launch on October 17, 2024, the Joint User Hydrant Installation 2 will be the […]

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FG to comply with OPEC production quota – Minister

The Minister of State for Petroleum Resources, Mr. Heineken Lokpobiri, has stated that Nigeria will adhere to the production quota established by the Organisation of Petroleum Exporting Countries. Recall that on June 2, 2023, during a ministerial meeting with the federal government, OPEC raised Nigeria’s production target to 1.5 million barrels of crude per day […]

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Lokpobiri reveals Wike’s pivotal role in his appointment as minister

The Minister of State for Petroleum Resources, Heineken Lokpobiri has shared insights into the role played by the Minister of Federal Capital Territory, Nyesom Wike, in his appointment, highlighting Wike’s support as pivotal in securing his position. Lokpobiri made this disclosure on Saturday at an event organised in honour of Wike by the Ijaw Peoples […]

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