By Emmanuella Anokam The Nigeria Extractive Industries Transparency Initiative (NEITI) said out of a total mineral revenue of N6.40 trillion, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) accounted for the highest contribution of N2.71 trillion in 2020-2021. NEITI in its latest Fiscal Allocation and Statutory Disbursement (FASD) report which coveredContinue Reading
By Emmanuella Anokam The Nigerian National Petroleum Company Limited (NNPC Ltd.) has provided insight into how the lingering Russia – Ukraine war impacted Nigerian crude oil inflows in the international oil market. The NNPC Ltd., said this led to a dip in demand from the once-dependable Asian market at theContinue Reading
By Desmond Ejibas The Nigeria Liquefied Natural Gas Limited (NLNG), says the company has not increase the price of Liquefied Petroleum Gas (LPG). Mr Andy Odeh, General Manager, External Relations and Sustainable Development, NLNG, dismissed the alleged report of the increase in a statement issued in Port Harcourt on Wednesday.Continue Reading
By Emmanuella Anokam Oilserv Group is targeting expansion in African market through the forthcoming Intra African Trade Fair (IATF 2023). The company said the event would serve as an avenue to take advantage of the African market, to provide commercial prospects and showcase competence from an indigenous African operators’ perspective.Continue Reading
By Emmanuella Anokam The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is reviewing novel regulations aimed at ensuring regulatory clarity and compliance by licensees and permit holders, to maintain ethical standards in the upstream petroleum operations. The NUPRC said the regulations when reviewed would ensure strict commitment and provide clarity onContinue Reading
By Emmanuella Anokam The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced the introduction of Nembe Crude Oil Grade, a new crude oil grade into the international crude oil market. The announcement of the Nembe crude blend produced by Aiteo, the Operator of the NNPC/Aiteo Oil Mining Lease (OML)Continue Reading
By Emmanuella Anokam The Petroleum Tanker Drivers (PTD) union has urged its members across the country to go about their normal duties in actualising the Renewed Hope Agenda of the President Bola Tinubu as it concerns the oil sector. President of the union, Mr Lucky Osesua, gave the charge inContinue Reading
By Deborah Coker Vice Chairman, Senate Committee on Environment, Sen. Ned Nwoko (PDP-Delta), says the destruction of vessels apprehended for carrying illegal goods/stolen crude oil by the military is to conceal/destroy evidence. Nwoko said this while speaking with the News Agency of Nigeria (NAN) in Abuja. He stressed that destroyingContinue Reading
By Emmanuella Anokam The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it is collaborating with the Nigeria Extractive Industries Transparency Initiative (NEITI) and other stakeholders to reconcile alleged indebtedness by the company and Federation Accounts Allocation Committee (FAAC). NNPC Ltd says they are working in the Reconciliation Committee setContinue Reading
By Emmanuella Anokam An Academic, Dr Yetunde Aladeitan has urged a comprehensive energy strategy that combines Compressed Natural Gas (CNG), improved refinery operations, and investment in renewable energy sources to address Nigeria’s energy challenges. Aladeitan urged the Federal Government to consider the long-term sustainability and affordability of these energy solutionsContinue Reading
