PRICEWATERHOUSECOOPERS, PwC Nigeria, has advised the federal government to invest …
RTag: crude oil
Nigeria Loses Investment in Oil Sector to Non-passage of PIB
The Petroleum and Natural Gas Senior Staff Association of Nigeria urges legislators to pass …
Indonesia Seeks More Crude from Nigeria
INDONESIA, a South East Asia emerging economy, has indicated interest to purchase more …
LCCI Predicts Further Fall in Oil Price
The Lagos Chamber of Commerce and Industry predicts a further decline in crude oil price in the international market which will negatively affect Nigeria’s economy …
Oil Price Fall Stalls funding of SWF
THE Nigeria Sovereign Investment Authority, NSIA, has said that the continued fall in the prices of crude oil in the international market has stalled the federal government’s contribution to the country’s sovereign wealth fund. Uche Orji, managing director, NSIA, disclosed this on Wednesday …
Buhari’s Controversial War on Corruption
President Muhammadu Buhari’s war on corruption as commendable as it is, is also receiving knocks from those who feel that his government is selective in tackling the monster more on the pages of newspapers …
Shell Blames Vandals for Oil Spill in Adibawa
THE Shell Petroleum Development Company of Nigeria, SPDC, has said that oil spill at its Adibawa oil fields in Edagberi Community in Rivers was caused by thieves who targeted the well head. A statement issued by by Joseph Obari, SPDC spokesman, on Monday, July 20, attributed the leakage at …
Buhari to Probe Jonathan Administration
THE President Muhammadu Buhari is going to limit his current probe of government officials to the immediate past government of former President Goodluck Jonathan. The Presidency disclosed this on Thursday, July 23, that there were trails of monumental fraud everywhere that would be too …
Why Private Refineries Fail to Take Off
THE Department of Petroleum Resources, DPR, has attributed the failure of private investors to build refineries in the country to lack of crude oil and absence of funding. The agency said most of the investors licensed in 2003, were not satisfied with the federal government’s position that they would …
Nigeria Loses N59 Billion to Pipeline Vandalism
The Nigerian National Petroleum Corporation says the country lost N59.597 billion to pipeline vandalism in 2014 …
Buhari’s Blueprint for Development – Mohammed
LAI Mohammed, national publicity secretary of the All Progressives Congress, APC, said on Thursday, July 2, that the administration of President Muhammadu Buhari had the blueprints to tackle Nigeria’s developmental challenges. …
National Assembly Probes NNPC Crude Swap, Refineries Deal
The National Assembly is investigating allegations of wrong doing in the operations of the Nigerian National Petroleum Corporation, the refineries and the crude oil swap deal and has summed the nation’s cash cow to appear before it …
ExxonMobil to Double Production on Kearl Project
NEIL Duffin, president of ExxonMobil Development Company expects to double the production capacity of its Kearl Oil project in Alberta, Canada …
Challenges Ahead of Nigerian Economy
World Bank warns that Nigeria and other oil exporting nations in the Sub-Sahara Africa should brace up for daunting economic challenges …
Buhari to Play Proactive Role in OPEC
Jamila Shu’ara, leader of Nigerian delegation to the Organisation of Petroleum Exporting Countries says the news administration of President Muhammadu Buhari will play a more proactive role in the international body …
CBN Retains Tight Monetary Policy
The Monetary Policy Committee decides to continue its tight monetary stance on the economy while harmonising the public and private sector Cash Reserve Ration, CRR, at 31 per cent at its meeting on Tuesday, May 19 …
Vandals Force Oilfields Shutdown
Six oil and gas companies in Nigeria have shut down some of their oil fields because of pipeline vandalism …
ExxonMobil Starts Production in Gulf of Mexico
ExxonMobil is producing crude oil now in the deepwater Gulf of Mexico …
Senate Sets Benchmark for 2015 Budget
The Senate of the Federal Republic of Nigeria has set the price of $52 per barrel of crude oil as the benchmark for revenue for the 2015 budget …
NIPPs Contribute 2500 Megawatts to National Grid
THE federal government has said some of the power plants constructed under the National Integrated Power Projects, NIPPs, are contributing 2500 megawatts, MW, of electricity to the national grid. Chinedu Nebo, minister of power, stated this during the inauguration of the 750 megawatts Olorunsogo …
PPPRA Defends Fuel Price
The Petroleum Products Pricing Regulatory Agency is defending the decision of the federal government to peg the price of petrol at N87 …
Upsurge in Crude, Gas Pipelines Vandalism
The Nigerian National Petroleum Corporation, NNPC, is losing several billion of naira to the both crude and gas pipeline vandalism which has also adversely affected power supply in the country …
Facts, Lies about Missing $30 Billion
The ministry of finance has dismissed as untrue with detailed information the allegations by different people that various sums of money are missing from the Excess Crude Account and that the foreign reserve is being mismanaged …
What Nigeria Loses to Oil Thieves
– NIGERIA lost 109.5 million barrels of crude oil to oil theft in 2013, according to data released by the […]
Benefits of Indigenisation in Oil Sector
– If the prevailing local participation in the oil and gas sector is sustained for the next five years, indigenous […]