Petroleum Industry Act (PIA)
11 Sep
Contrary to recent media reports, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has not yet approved Shell International Plc’s $1.3 billion sale of its onshore assets to the Renaissance consortium. Investigations have revealed that the regulatory body has not granted the required consent for the transaction, as previously reported by some sources. The deal, which…
2 Sep
Lagos, Sept. 2, 2024 (NAN) Some experts in oil and gas business have urged the Federal Government to collaborate with local refineries to process the daily allocation of 445,000 barrels of crude oil for domestic use, based on a tolling arrangement. The experts gave the advice in interviews with the News Agency of Nigeria (NAN)…
23 May 2024
On Wednesday, the House of Representatives commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), led by its Chief Executive Officer, Gbenga Komolafe, for establishing comprehensive guidelines for decommissioning and abandonment procedures in the oil sector. The commendation was followed by a resolution to investigate the ongoing divestment of assets by international oil companies (IOCs) operating…
22 May 2024
The House of Representatives has directed the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Minister of State for Petroleum to withhold consent for international oil companies (IOCs) involved in the divestment of assets in the Niger Delta region until they comply with the Petroleum Industry Act (PIA) and NUPRC decommissioning guidelines. The lawmakers instructed…
6 May 2024
It is unacceptable to subject Nigerians to excruciating pains while trying to access Premium Motor Spirit (PMS), otherwise known as petrol, the market of which the Federal Government claims has been deregulated. It also does not make sense for Nigerians to pay as high as N900-N1000 per litre of petrol, at a time when the cost of living is sky-high and the citizens are dejected.
15 Apr 2024
The Senate Committee on Oil and Gas Host Communities has mandated the Managing Director of Total Energies, Mr. Matthieu Bouyer to appear before it in his own interest. The Committee said that Bouyer has refused its previous invitations to interface with it on the matters bothering on the implementation challenges of the Petroleum Industry Act…
Latest
12 mins ago
The Federal High Court sitting in Kaduna on Tuesday granted bail to another ally of ex-Governor Nasir El-Rufai, Senior Advisor Counselor Jimmy Lawal, and three others. The court demanded their international passports, two sureties each, and landed properties as conditions for their release on bail over allegations of fraud against the Kaduna State Government. The…
15 mins ago
The Ministry of Agriculture has confirmed an outbreak of highly pathogenic avian influenza, also known as bird flu, in a 3,000-capacity poultry farm in Iriebe, Obio/Akpor Local Government Area of Rivers State. The outbreak, reported on Thursday, January 17, 2025, was confirmed by the State Commissioner for Agriculture, Victor Kii, in a statement on Tuesday.…
19 mins ago
Manchester City announced Tuesday they had completed the signing of teenage defender Vitor Reis from Brazilian club Palmeiras for a reported fee of £29.6 million ($36.2 million). The 19-year-old Brazilian youth international has signed a four-and-a-half-year deal with the Premier League champions. "I'm excited to join Manchester City, one of the biggest clubs in the…
34 mins ago
The Federal High Court, Abuja, has dismissed a suit by the Incorporated Trustees of the Socio-Economic Rights and Accountability Project (SERAP) challenging the powers of the National Assembly to amend its budget in the 2024 Appropriation Act. Justice James Kolawole Omotosho ruled, among others, that SERAP lacked the locus standi to institute the suit. The…
38 mins ago
Canada vowed strong pushback while Mexico urged calm on Tuesday in the face of US President Donald Trump's trade threats that risk throwing their economies into disarray. The US president has accused both neighbors of being lax in preventing migrants and illicit drugs from coming into the United States, and called for a tightening of…
40 mins ago
Operatives of the Rivers State Police Command have arrested five suspects in connection with the kidnapping and murder of 34-year-old Rowland Speech Horsefall. A statement by the command's spokesperson, SP Grace Iringe-Koko, noted that the victim's mother, Gloria Iyenemi George, reported to the police that her son left home on September 10, 2024, to attend…
47 mins ago
Emir of Kano, Muhammadu Sanusi II, has advocated the critical role of traditional leaders in checking the growing rate of maternal and newborn mortality in Northern Nigeria. The Emir equally queried the cultural and societal attitudes that tend to degrade women and female children as critical concerns in the region. Sanusi, former Central Bank of…
1 hour ago
The Lagos State House of Assembly has passed a resolution urging Gov. Babajide Sanwo-Olu to enforce the state’s Environmental Management Protection Law(2017)in order to curb the activities of scavengers in the state. The House passed the resolution through voice votes at the plenary in Ikeja on Tuesday. The Speaker,Mrs Mojisola Meranda,who presided over the plenary,…
1 hour ago
Ogun State Government has said that the 2025 budget of N1.05trn is aimed at executing projects that would set the state on the path of development and prosperity. The Chief Economic Adviser and Commissioner for Finance, Mr. Dapo Okubadejo, stated this during the highlights and breakdown of the 2025 budget, tagged "Budget of Hope…
1 hour ago
Niger State Emergency Management Agency (NSEMA) has disclosed that it has recorded two more deaths of victims of a tanker explosion at Dikko Junction on the Abuja-Kaduna Expressway. According to a statement issued by the Director General of the agency, Alhaji Abdullahi Baba Arah, the agency received the news of the passing of two more…