To avoid situations where oil assets are left idle without necessary contributions to the federation account, stakeholders have charged the Federal Government to enforce the drill or drop clause in the Petroleum Industry Bill (PIB).
‘How Nigeria benefited from OPEC in last 50 years’
The Minister of State Petroleum Resources, Chief Timipre Sylva has stated that Nigeria’s membership of the Organisation of Oil Exporting Countries (OPEC) has provided critical benefits, especially in the last 50 years.
‘Africa must prioritise cleaner fuels in net zero emissions targets’
With its growing petroleum products demands and huge population growth over the next two decades, Africa must first focus on cleaner transport and cooking fuels to reduce air pollution and avert public health issues before embarking on global Net Zero Emissions...
Panic as IEA projects oil market tightness, volatility
Oil markets will tighten "significantly" if the OPEC+ stalemate continues, the IEA has said. According to the IEA, until the group reaches
Stakeholders advocate collaboration for revenue growth in mining sector
Minister of Mines and Steel Development, Olamilekan Adebgite, Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), Orji Ogbonnaya Orji, and other stakeholders
GEIL signs new MoU with host community, expands CSR footprint
Green Energy International Limited (GEIL), a leading oil and gas development company and the Operator of the Otakikpo marginal field has successfully negotiated and signed a new ‘’Memorandum of Understanding’’ (MoU) with one of its host community; The Ikuru Town Community. The MOU signing ceremony was witnessed and endorsed by the Rivers State Government representatives,…
Operators advise government against imposing VAT on cooking gas
The Oil and Gas Service Providers Association of Nigeria, OGSPAN, has urged the Federal Government not to impose the Value Added Tax (VAT) on Liquefied Petroleum Gas (LPG), otherwise known as cooking gas.
ANED explains reasons for meter shortfalls as DisCo explains NMMP procedures
The Association of Nigerian Electricity Distributors (ANED) has explained that the inability of meter manufacturing companies to produce the commodity in large quantities is responsible for the slow pace
FG didn't award Atala marginal field to new investors, says BOCL
Bayelsa Oil Company Ltd (BOCL) has faulted a media report, which claimed that the Federal Government has awarded its oilfield, Atala Field (OML 46), to new investors.