Industry

Nigeria has opted for non-discretionary award of petroleum licences, with open bid rounds as the core framework, if the Petroleum Industry Bill (PIB) currently in its parliament is the signpost of things to come. The 252 -page draft…
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Five Governors of the South-East, Minister of State, Petroleum Resources, Mr Timipre Sylva, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) and other stakeholders in the gas sector will converge on Owerri on…
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The debts owed by oil and gas companies to Nigerian banks rose by N90bn in the second quarter of this year to nearly N5trn as many operators struggle to stay afloat in the face of depressed prices and demand, reports say. Nigerian banks…
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The federal government has commenced the conversion of official vehicles belonging to Ministries, Departments and Agencies (MDAs) from petrol to Compressed Natural Gas (CNG) in designated centres in Abuja. It said part of the move was…
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World oil demand will plateau in the late 2030s and by then begin to decline, the Organization of the Petroleum Exporting Countries (OPEC) said in its 2020 World Oil Outlook. OPEC said on Thursday that the plateau and subsequent decline…
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The Senate yesterday denied ever dumping the Petroleum Industry Bill (PIB), saying it is committed to expeditious passage of the Bill and the N13.08 trillion 2021 budget estimates. Senate spokesman and chairman of its Committee on Media…
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Angered by the questionable manner members were included in the Integrated Payroll and Personnel Management System (IPPIS) of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), some branch members have proceeded…
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Nigeria, Africa’s largest crude oil producer and exporter, expects to end its crude-for-fuel swap deals by 2023 when its refining capacity is set to increase with state refineries revamped and a new refinery built, Mele Kyari, Group…
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The five foreign expatriates rescued by the troops. Credit: Defence Headquarters Troops of Operation Delta Safe have rescued five expatriates that were kidnapped in Yellow Island, Rivers State. The foreigners, comprising three…
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Minister of State for Petroleum Resources, Timipre Sylva, has said that the National Assembly has shifted the Petroleum Industry Bill deliberation to first quarter of next year. According to the minister, the National Assembly said they…
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