FG plans to raise oil reserves by 40 billion barrels
The Federal Government is planning to increase its oil reserves by 40 billion barrels and gas reserves to 220TCF by 2030.
OPEC, DPR, NNPC target $8bn from crude transport optimisation
Stakeholders in the oil and gas industry, as well as the maritime sector, have stated that the country can boost the sectors’ contribution to the economy by about $8 billion via crude oil transportation.
DPR lists ways to fortify Nigeria oil, gas sector
The Department of Petroleum Resources( DPR) has listed five ways to fortify the Nigerian oil and gas sector for economic stability and growth.
Leveraging marginal fields for improved national reserves, local content
The DPR, Nigeria’s oil industry regulator, last October, declared that the country is now aiming to increase its oil reserves, including condensates, substantially to 40 billion barrels by 2025.
DPR, NEITI to tackle contract transparency, beneficial ownership challenges
Fresh efforts being made by the Nigeria Extractive Industries Transparency Initiative (NEITI) and the Department of Petroleum Resources (DPR) may address opacity in oil and gas contracts and fast track the implementation of Extractive Industries Transparency Initiative (EITI) beneficial ownership disclosures. With the development, there are indications that Nigeria will meet the compliance standards required…
Nigeria needs $2b monthly for fiscal sustainability as FG builds oil reserves
The Department of Petroleum Resources (DPR) has stated that the country needs over $2 billion monthly revenue to remain sustainable as a nation.
Nigeria’s bid round signature bonuses are overpriced, says operator
The Nigerian government’s expectation of raising half a billion dollars from signature bonuses, has imposed significant financial pressure on participants in the about-to-be-concluded...
FG hopeful of improved earnings from floating LNG
The Federal Government has expressed optimism about improved earnings from its gas monetisation scheme, following the signing of the Pre-Front End Engineering Design (Pre-FEED) contract by the licensee to commence the development of 176 million cubic....