Oil & Gas (Page 32)

By Emmanuella Anokam The Nigerian National Petroleum Company Limited (NNPC Ltd.) and Central Bank of Nigeria (CBN) have reviewed the NNPC Ltd.’s decision to domicile a significant portion of its revenues and other banking services with the CBN. The review was held during a meeting between the Group Chief ExecutiveContinue Reading

By Emmanuella Anokam The Nigerian National Petroleum Company (NNPC) Ltd. has assured the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol. The Chief Corporate Communications Officer, NNPC Ltd., Olufemi Soneye, in a statement on Thursday, urged Nigerians to disregardContinue Reading

By Emmanuella Anokam The Federal Government has set up an inter-ministerial committee to suggest ways of achieving a sustainable gas supply to gas generating plants in the country. The inter-ministerial committee was constituted in Abuja by the Minister of State Petroleum Resources (Gas), Mr Ekperikpe Ekpo and the Minister ofContinue Reading

By Emmanuella Anokam The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced the successful commencement of oil production from the Akpo West Field, located approximately 175 kilometres from Port Harcourt. The NNPC Ltd. said the production was in line with President Bola Tinubu’s directive that it should optimise productionContinue Reading

By Emmanuella Anokam The Federal Government says it will implement measures to significantly reduce the price of Liquefied Petroleum Gas (LPG), otherwise known as cooking gas. It will also ensure the domestication and penetration of the LPG towards ensuring accessibility and availability for consumers across the country. Mr Ekperikpe Ekpo,Continue Reading

By Emmanuella Anokam The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has clarified that Oil and Gas assets in Nigeria can only be transferred in accordance with the requirements of the Petroleum Industry Act (PIA 2021). NUPRC said that assets could be transferred in accordance with PIA (where applicable), the GuidelinesContinue Reading

By Emmanuella Anokam President Bola Tinubu has ordered the Attorney-General of the Federation, Lateef Fagbemi to clear court cases on 1.3 billion dollars Deepwater OML 245 oil block in Niger Delta. Others that received the directive are the Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, and the EconomicContinue Reading

By Emmanuella Anokam The Nigerian National Petroleum Company Limited (NNPC Ltd.) has held talks with a South Korean consortium led by Daewoo E & C on the development of gas projects in Nigeria. The Group Chief Executive Officer of NNPC Ltd., Mr Mele Kyari, led the company’s team to theContinue Reading