Delay in FDPs approval and Nigeria’s quest for 40 billion reserves target
The Federal Government’s desire to grow Nigeria’s strategic oil reserves to about 40 billion barrels and daily crude oil production to four million barrels per day may suffer setback...
Crude oil prices to decline to $68 a barrel in 2019
The United States’ Energy Information Administration (EIA) forecasts that Brent crude oil prices will average $71 per barrel in 2018 and $68 a barrel in 2019. Meanwhile, Nigeria’s Bonny Light crude oil has maintain an international price of $73.44 per barrel, higher than the Organisation....
Niger Delta $10b infrastructure fund: no trace of such fund anywhere, say stakeholders
Close to two years after the Federal Government launched the $10b Infrastructure Fund to stimulate development in the Niger Delta, there is no trace of the fund anywhere.In October 2016, the Federal Government launched the $10b Infrastructure Fund to end insurgency and introduce sustainable development in the region.
How sustainability of ‘7big wins’ will improve Nigeria’s oil production
Statistics provided by the Nigerian National Petroleum Corporation (NNPC) showed that Nigeria had from January to November 2016 lost over 130 million barrels...
Kachikwu, ECOWAS ministers seek solutions to energy security in West Africa
Energy Ministers and other stakeholders in the West African region yesterday in Abuja called for necessary actions that would address inherent challenges in gas supply across the Economic Community of West African States (ECOWAS) to facilitate sustainable development in the sub-region. The experts, who discussed the need for ECOWAS, especially the countries that are served…
‘NNPC not owing Rivers community N36 billion compensation’
The Nigerian National Petroleum Corporation (NNPC) has denied owing the Alesa-Eleme community in Rivers State N36billion compensation as host to the Port Harcourt Refining Company (PHRC), one of its subsidiaries.
Nigeria to begin overhaul of refineries next month, says Kachikwu
• Says Nigeria, Niger To Sign MoU On New Refinery • No Going Back On Ending Gas Flaring By 2020 Minister of State for Petroleum, Dr. Ibe Kachikwu, yesterday, said the much-awaited overhaul of the country’s refineries would become a reality next month, as plans have been concluded to complete necessary arrangement with financials. The…
‘Kachikwu, Usani, Dokubo alone cannot fix Niger Delta'
Coalition of Civil Society Organisations (CSO) in the Niger Delta under the umbrella body of United Niger Delta Energy Development Security Strategy (UNDEDSS), have condemned move by the Federal Government to impact the region negatively by attempting to pass the Water Resources Management Bill, currently before the National Assembly. In a statement after it's 12…
Government, IOCs to invest N1.7tr in Niger Delta before 2021
The Ministry of Petroleum Resources has said that about N1.7 trillion will be invested in Niger Delta by the Federal Government, International Oil Companies (IOCs) and others in the next three years.
NNPC loses N546b to failure of reforms in three years
Failure by the President Muhammadu Buhari-led administration to reform the oil and gas sector has pushed the Nigerian National Petroleum Corporation (NNPC)’s revenue loss to over N546 billion.