Industry

The passage of Petroleum Industry Bill (PIB) into law, did not impact positively on the Oil & Gas index on the Nigerian Exchange (NGX) Limited as it remained dormant, declining by 0.42 per cent in two days. On August 16, 2021,…
Read More...

…Says new oil legislation will enhance development The chairman, Host Communities of Nigeria, Producing Oil and Gas (Hoscon), Dr. Mike Emuh, Tuesday, said, the direct payment of derivation to States denied the host communities of…
Read More...

President Muhammadu Buhari has approved a committee to immediately commence the implementation of the Petroleum Industry Act (PIA). The steering committee, which has 12 months duration for the assignment, is headed by the Minister…
Read More...

The Nigerian oil and pipeline company Aiteo has taken the unusual step of donating 50 brand new gunboats, patrol craft and other vessels to the Nigerian Navy, hoping to tamp down piracy and oil theft in its own backyard.  The…
Read More...

The Federal Government on Tuesday insisted that the three per cent host communities fund in the Petroleum Transportation Industry Bill was a fair deal for the Niger Delta people. In an apparent move to quell opposition to the…
Read More...

The Group Managing Director of Nigeria National Petroleum Corporation NNPC, Mele Kyari says the Petroleum Industry Act would help galvanize activities in the oil and gas sector of the country. Kyari made the remark in an interview…
Read More...

Despite the signing of the Petroleum Industry Act 2021 into law on Monday, the Federal Government, Tuesday, said fuel subsidy would  still remain, pending the outcome of the current negotiations with labour unions in the country. …
Read More...

Chairman of the governing board of Petroleum Products Pricing Regulatory Agency (PPPRA), Deacon Obinna Atuonwu said the agency would move its focus away from petrol to gas in line with current global realities. Speaking with…
Read More...

*CBN must lend support to ‘stranded’ licensees – Experts With the signing of the Petroleum Industry Act (PIA) 2021 by President Muhammadu Buhari on Monday, analysts have called on the government to ensure enabling policies that…
Read More...

The Minister of State for Petroleum, Timipre Sylva, has said that increasing the three per cent host communities fund will affect the profit of oil companies and in turn force them to exit the country. Sylva said this during a press…
Read More...