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Minister of State for Petroleum, Chief Timipre Sylva, has said that his ministry will within two weeks transmit the revised Petroleum Industry Bill (PIB) to the National Assembly for passage into law. He also put the value of the…
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Oil edged lower ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus surges unabated in many parts of the world. Futures in New York fell below $40…
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The Federal Government says it can no longer bear the burden of petrol subsidy. The Minister of State for Petroleum Resources, Timipre Sylva, said this in a statement on Thursday. He said the government had realised that it was…
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Call on OPEC to surge by 25% to 29.8 million barrels a dayUS production to see limited growth after this year’s loss OPEC expects demand for its crude oil to rebound sharply next year, surpassing levels seen before the coronavirus…
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The Nigerian Content Development and Monitoring Board (NCDMB) on Monday took formal possession of its newly completed 17-storey headquarters building from the major contractor of the project, Megastar Technical and Construction Company…
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President Muhammadu Buhari on Monday reconstituted the Boards of the Nigerian Liquefied Natural Gas Limited (NLNG) and Bonny Gas Transport Limited (BGT) and appointed a former Minister of State for Petroleum Resources, Dr. Edmund Daukoru,…
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Two businessmen have been convicted of a £4.9m bribery plot to win oil deals in Iraq. Ziad Akle, 45, and Stephen Whiteley, 65, aimed to secure contracts worth £650m following the overthrow of Saddam Hussein in 2003. The pair were found…
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-By Saidu Abubakar Enugu Rangers have accepted the decision of the Nigeria Football Federation NFF and the League to end the 2020 NPFL season with the Points Per Game (PPG). Rangers CEO Davidson Owumi disclosed this over the weekend…
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Today, HRH Prince Abdulaziz Bin Salman Al Saud, Minister for Energy, had a phone discussion with HE Timipre Sylva, the Nigerian Minister of State for Petroleum Resources. Chief Timipre Sylva, Nigeria's HMoSPR The discussion between…
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The oil market is getting closer to balance as demand gradually rises, OPEC's secretary general said on Monday, two days before the group and ally Russia meet to decide whether to ease output curbs from August. The Organization of the…
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