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Tag: Oil and Gas

Court upholds NMDPRA's authority to impose statutory taxes
Oil and Gas

NMDPRA urges companies to drop diesel for gas

The Nigerian Midstream and Downstream Petroleum Regulatory Authority has urged the country’s companies, particularly those that utilize a lot of petroleum products, to switch from diesel to gas. The Punch reported that the Chief Executive of NMDPRA, Farouk Ahmed, made the call at a one-day stakeholder engagement on gas utilization in Nigeria which was held in Kano […]

NCDMB kickstart house wiring program for youths
Oil and Gas

Bayelsa court permits NCDMB to collect 1% NCDF levy

The Federal High Court in Yenagoa, Bayelsa State, delivered an important ruling on Tuesday confirming the authority of the Nigerian Content Development and Monitoring Board to collect the one percent Nigerian Content Development Fund levy from every contract awarded in the Nigerian oil and gas upstream transaction. According to The News Agency of Nigeria, this […]

Nigeria to end gas flaring by 2030 - NUPRC
Oil and Gas

NUPRC confirms take over of oil export terminals

The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission has announced that they have taken over the regulation and monitoring of activities of the nation’s crude oil export terminals. AmBusiness reported that the Chief Executive Officer of NUPRC, Mr. Gbenga Komolafe said this in an interview with Arise TV on Tuesday. Komolafe claimed that […]

NACCIMA, EU partner on business innovation
Oil and Gas

FG needs to fix Nigeria’s refineries – NACCIMA

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, has called on the Federal Government to urgently fix the four refineries which have been in comatose for the past 16 years. The President of the association, John Udeagbala, said this should be done so as to end petroleum products importation into the country. […]

Crude hits $83 as Nigeria's export passes 1.4mbpd
Business

FG to introduce 13 more oil sector regulations 

The upstream sector of the oil and gas industry can expect 13 new regulations from the Federal Government in the next few weeks. According to The Punch, the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, made this announcement on Tuesday during the Nigerian International Energy Summit in Abuja. In addition […]

The Nigerian Petroleum and Natural Gas Senior Staff Association has written to President Bola Ahmed Tinubu via the Chief of Staff's office to request that the
Oil and Gas

Petrol will cost below N500 after subsidy removal – PENGASSAN

The president of the Petroleum and Natural Gas Senior Staff Association of Nigeria, Festus Osifo, has predicted that if the fuel subsidy is removed, petrol will be sold for less than N500 per liter. This is in accordance with a statement published following the National Executive Council meeting of his association, which took place on March […]

Group backs sale of NNPC
Business featured

Experts frown as NNPCL appoints expatriate subsidiary head

Experts and operators have raised concerns and frowned on the appointment of Jean-Marc Cordier to lead the oil trading arm of the Nigerian National Petroleum Company Limited. The Punch reported that the appointment of Cordier to lead NNPC Trading Ltd, a subsidiary of NNPCL, was announced in a statement released in Abuja by the company’s […]

Business

Ex-Shell CEO’s pay package hits £9.7m – Report

The former CEO of the oil giant, Shell, Ben van Beurden, received a total pay package of £9.7 million in 2022, a report has revealed. According to Shell’s annual report and accounts accessed by BBC, the Dutchman received a total remuneration of £6.3 million in 2021. This means there was over £3 million increase in […]

EXXONMOBIL-REFINERY
Business

ExxonMobil to complete sale of shallow water assets soon

Energy leader, ExxonMobil, said it is hopeful to sell its shallow water oil production assets to Seplat Energy soon upon approval from the Nigerian government. This was disclosed in a statement by the President of Global Upstream, Liam Mallon, issued to Reuters. According to Nairametrics, the statement was made ahead of the CERAWeek Energy Conference […]

Tight security as Buhari visits Maiduguri for power plant inauguration
Oil and Gas

Tight security as Buhari visits Maiduguri for power plant inauguration

Security measures have been beefed up at the Maiduguri Emergency Power Plant project site in Borno ahead of its inauguration by President Muhammadu Buhari. According to the News Agency of Nigeria, the president will officially open the 50-Megawatt gas-fired power plant on Thursday. It was developed by the federal government in partnership with the Borno […]

PTI to be revamped before Buhari regime ends - Committee
Oil and Gas

PTI to be revamped before Buhari regime ends – Committee

In order to train and create local technologies that will operate the oil and gas industry before the current Buhari administration leaves office, the Petroleum Training Institute’s training facility in Effurun, Delta State, may be restructured. The Punch reported that on Monday, the PTI Repositioning Committee paid a working visit to the Institute to assess […]

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