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…
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4 mins ago
Comptroller General (CG) of the Nigeria Customs Service, Bashir Adewale Adeniyi, has lamented the increasing smuggling of petroleum products across the country’s borders, saying the discrepancies in the price of petrol..
50 mins ago
Reigning National Sports Festival double sprint champion, Tima Godbless, at the weekend, delivered a sensational performance at the Tyson Invitational, clocking a personal best of 7.08 seconds in the 60m final to secure the fastest time of the meet.
1 day ago
Mr. Segun Ajayi-Kadir, Director-General, Manufacturers Association of Nigeria (MAN) says seven manufacturing sectoral groups showed improvements in confidence levels in the fourth quarter of 2024. He made the assertion on Monday in Lagos via the Manufacturers CEO Confidence Index (MCCI). The News Agency of Nigeria (NAN) reports that the MCCI is a barometer used to…
1 day ago
The Kano State government has condemned the All Progressives Congress (APC) plan to establish a 'shadow government,' calling it a desperate attempt to destabilise the state. Alhaji Usman Alhaji, the former Secretary to the Kano State Government and National Chairman of the APC Patriotic Volunteers, announced on Saturday the group's intention to form a shadow…
1 day ago
A member of the House of Representatives, Philip Agbese, has explained his decision to file a defamation lawsuit against Tigran Gambaryan, an executive at Binance, over allegations that he and two other lawmakers demanded a $150 million bribe. In a statement on Monday, Agbese, who serves as the Deputy Spokesperson of the House, revealed that…
1 day ago
Former President Goodluck Jonathan, on Monday, flag off the new Olympic-standard 25,000-capacity Bayelsa stadium project at Igbogene, Yenagoa, as part of the activities marking the 5th anniversary of governor Douye Diri. The former president performed the groundbreaking ceremony on a day Gov. Diri restated his appeal for support of the the federal government as well…
1 day ago
The Health and Development Support Programme (HANDS), an NGO, has trained community health workers in Kano on the Social Behavioural Communication Change (SBCC) strategy. The training, held on Monday in Kano, focused on raising awareness about Neglected Tropical Diseases (NTDs) and Water, Sanitation, and Hygiene (WASH) practices. Mr Muhammad Dan’Aro, the state Programme Officer of…
1 day ago
A chieftain of the All Progressives Congress (APC), Nwaorisa Gerald, has criticised the party’s leadership for failing to address growing tensions with former Kaduna State Governor, Mallam Nasir El-Rufai. The reaction follows reports suggesting that El-Rufai is dissatisfied with both the party and the president, with speculations that failure to address the issue could deepen…
1 day ago
The Senate Committee on Power has kickstarted discussions with a South Korean energy firm, BK Energy, to explore mini-grid solutions and alternative energy sources, including coconut-derived graphene for power generation. This comes against the backdrop of Nigeria’s persistent national grid collapse and unstable power supply. During a meeting on Monday, the Committee Chairman, Senator Enyinnaya…
1 day ago
The Inspector-General of Police has ordered the deployment of more decoy operatives to Osun State to maintain law and order following violence over a court ruling on the reinstatement of sacked local council chairmen. Police spokesman, ACP Muyiwa Adejobi, who disclosed the new move by the police, noted that it was in response to the…