By Emmanuella Anokam: News Agency of Nigeria (NAN) On his inauguration on May 29, 2023, President Bola Tinubu, who is also the Minister of Petroleum Resources, began his administration by announcing the removal of subsidy on Premium Motor Spirit (PMS), popularly known as petrol. The implications are that the fuelContinue Reading
By Emmanuella Anokam The Nigerian National Petroleum Company Limited (NNPC Ltd.) on Thursday announced the signing of a settlement agreement facilitating the divestment of ExxonMobil’s stake in Mobil Producing Nigeria Unlimited (MPNU) to Seplat Energy Plc. This is coming two years after the divestment plan was announced. The NNPC Ltd.,Continue Reading
By Ismail Abdulaziz President Bola Tinubu says the three Executive Orders on oil and gas reforms will make Nigeria’s petroleum sector globally competitive. The president said this during a meeting with a delegation from ExxonMobil Upstream Company, led by its President, Liam Mallon on Tuesday in Abuja. He emphasised thatContinue Reading
By Emmanuella Anokam The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its Joint Venture (JV) partners, in collaboration with the Niger Delta Development Commission (NDDC), have inaugurated the 25.7km Ogbia-Nembe road in Bayelsa State. The JV partners are Shell Petroleum Development Company (SPDC), TotalEnergies and Nigeria Agip Oil CompanyContinue Reading
By Emmanuella Anokam The Techno Oil Group has urged the Federal Government to reverse its directive which placed imported Liquefied Petroleum Gas (LPG) cylinders and other components on custom duties and Value-Added Tax (VAT) payment exemption list. The company described the directive as a clear market distortion, adding that theContinue Reading
Stakeholders seek implementation of Nigeria’s Gas Plan By Naomi Sharang Stakeholders in the gas industry have called on the Federal Government to implement Nigeria’s National Gas Plan as it targets to achieve net-zero emissions by 2060. The Executive Director, Centre for Transparency Advocacy (CTA), Faith Nwadishi, made the call atContinue Reading
By Emmanuella Anokam The Federal Government on Monday inaugurated the Inter-Ministerial Task Team (IMTT) of Nigeria Extractive Industries Transparency Initiative (NEITI). The IMTT is an important aspect of the Extractive Industries Transparency Initiative (EITI) process in Nigeria, being a decision made by the Federal Executive Council, after the release ofContinue Reading
By Nefishetu Yakubu The NNPC E&P Limited (NEPL), a subsidiary of NNPC Limited on Friday inaugurated a board of trustee each to manage the 14 host communities in its area operations as contained in the Petroleum Industry Act (PIA). The benefiting communities are Umuedeokwara Odagwa, Uherevie, Warnog, Utrew, Benin River,Continue Reading
By Emmanuella Anokam A Joint Technical Inspection Team has validated Nigeria’s readiness to host the headquarters of the five billion dollars African Energy Bank (AEB) in the country. The AEB is set to be established in Nigeria in July 2024. The technical inspection team is from the African Petroleum ProducersContinue Reading
By Emmanuella Anokam The Nigerian National Petroleum Company Limited (NNPC Ltd.), Energy Services Limited (EnServ) and Schlumberger (SLB), a renowned global technology company, have signed a technical partnership agreement toward bolstering upstream operations. The agreement was signed at the NNPC Ltd’s Corporate Headquarters in Abuja on Thursday, with senior managementContinue Reading
