OIL & GAS

The federal government has challenged the Indigenous Petroleum Producers Group (IPPG) to take advantage of the ongoing divestments by International Oil Companies (IOCs) to significantly increase their investments in oil and gas assets in the country. The Minister of State, Petroleum Resources, Chief…

The minister of Finance, Budget and National Planning, Zainab Ahmed, has said that the Nigerian National Petroleum Corporation (NNPC) that was formally transited to a private limited company by President Muhammadu Buhari this week, has not been privatised. Group Managing Director of NNPC…

The price of petrol has finally been raised above N165 per litre across regions of the country. Although the product has been selling above N165 in some parts of the country, a new price regime was released on Tuesday. Petrol marketers have said the…

The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari, has maintained that determination of fuel prices would continue to be a decision by the federal government despite the firm’s transitioning to a commercial entity.…

The Director General, Budget Office of the Federation, Ben Akabueze, yesterday stated that Joint Ventures (JVs) are bleeding the most as a result of rising crude oil theft and rampant destruction of oil production facilities across the country. Speaking at the Lagos…

Oil prices crashed further on Tuesday as concerns about a global economic slowdown and growing COVID-19 cases in China reduced risk appetite among traders. West Texas Intermediate lost as much as eight per cent to slip under $96 a barrel. Reports show that rising…

The Nigeria Liquefied Natural Gas (NLNG) Limited has said the federal government would need to make capital investments worth $2 billion every year with counterpart funding from the private sector to enable the delivery of specified infrastructure projects listed on the Decade…

Abuja and Lagos residents may smile again soon as the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPC), Mr Mele Kyari, has assured that the horrific petrol scarcity in the two locations would vanish in three to four days’…

The implementation of the Petroleum Industry Act (PIA) 2021 has a significant implication for the revenue mobilization and fiscal roles of the Nigerian government, including a cut in revenue by the Nigerian National Petroleum Company Ltd (NNPCL). This was contained in a…