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Maikanti Baru, the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), says non-compliance to regulations by operators in the oil and gas sector hinders growth in the industry. Baru made this known at the 2018 annual…
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Top on the worry list of stakeholders in the nation’s oil and gas industry are the uncertainty caused by the delay in the passage of the Petroleum Industry Bill and the lack of adequate refining capacity. After over 60 years of…
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Foreign Direct Investment in Nigeria’s oil sector dropped by $17.12m in the third quarter of 2018, the Nigerian Natural Resource Charter stated on Wednesday. According to the NNRC, foreign investments in the sector plunged from $24.85m…
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THE oil price rebound, yesterday, reached a significant point, selling at $60 per barrel, as the Organisation of Petroleum Exporting Countries, OPEC, continue to withdraw excess oil from the international market. Prices of Brent, West…
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Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, has told President Muhammadu Buhari, that only a total overhauling and amendment of Nigeria Contents Monitoring and Development Board, NCMDB, Act will make it achieve the aim and…
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Stakeholders in the economy, especially the oil and gas sector, have renewed the push for total deregulation of the downstream oil industry. Their worry is that the huge foreign exchange (forex) spent on fuel importation through subsidy…
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Review of a new report has revealed that Nigeria's petroleum products pipelines are in a state of disrepair and need to be fixed or replaced The outcome of a study commissioned by the Nigerian National Petroleum Corporation (NNPC) to…
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The Federal Government has placed orders for the importation of 30 coaches and 300 wagons to be deployed on the Lagos-Ibadan railway when the project is completed. According to the Minister of Transportation, Rotimi Amaechi, the coaches…
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The Nigerian independent Eroton Exploration and Production Company Limited has successfully refinanced the facility it took from Guarantee Trust Bank to purchase the 45% of Oil Mining Lease (OML) 18 in the eastern Niger Delta. Eroton…
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At a time the oil cartel, the Organisation of Petroleum Exporting Countries, OPEC, embarked on an 800,000 barrels per day production cut for the next six months, with Nigeria contributing about 40,000 barrels, the country’s rig count took…
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