Economy

The Department of Petroleum Resources (DPR) generated N2.4 trillion last year, it was learnt at the weekend. Its Director/Chief Executive Officer, Sarki Auwalu, stated this when the Senate Joint Committee on Petroleum paid an oversight…
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The downtrend in the oil market reached a new nightmarish height Thursday as the Brent (against which Nigeria’s Bonny Light is benchmarked) tumbled to $51 a barrel, the lowest in thirteen months. Global oil prices have been at the…
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*Explores floating of Ship Repair Centre in Nigeria under a PPP Arrangement The Shipowners Association of Nigeria (SOAN) led by its President, Dr. Mkgeorge O. Onyung paid a high-value visit to the Honorable Minister of State for…
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Cost increases and uncertainty in Nigeria’s crucial energy sector could lead to a 35% decline in oil output over 10 years as companies delay investments in key oilfields, consultancy Wood Mackenzie said in new research due to be published…
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The Nigerian National Petroleum Corporation (NNPC) has stated that it would expand its operational footprints across the globe, saying the move would enable the corporation boost its global profile. The Group Managing Director of the…
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Unless Africa focuses on developing sustainable technical and managerial skills in innovation, operations, and management of oil and gas resources, the continent may not achieve projected economic development, Minister of State for…
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*Benefits of NIPS begin to gather momentum The Federal Government and United State Trade and Development Agency have signed a 1.1million dollar grant to support electricity infrastructure development in Nigeria. The agreement was…
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Three years after the Federal Executive Council of Nigeria took the final decision to approve the Nigeria International Petroleum Summit (NIPS), an African Petroleum Technology and Business Conference, the third edition of the event is…
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The opening ceremony of the Nigeria International Petroleum Summit covered an extensive range of opinions that provided delegates with a refreshing and holistic perspective of the current state of play in the global oil and gas industry…
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The Ministry of Petroleum Resources is looking to attract more investments from the United States and strengthen cooperation in the energy sector. The Minister of State for Petroleum Resources, Chief Timipre Sylva, was part of the…
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