Fears on oil find in North East
Insecurity, energy transition, looming environmental dangers, investment apathy, cloudy regulatory framework, diversion of funds to the North and other unanswered questions top the list of worries, as stakeholders in the energy sector expressed divided opinion
Nigeria’s new gas code to address pipeline infrastructure deficits
With the unveiling of the National Gas Transportation Network Code (NGTNC) by the Minister of State for Petroleum Resources, Timipre Sylva, on Monday, stakeholders in the sector are hopeful
Climate change not 'big issue' for Nigeria, says Sylva
Nigeria's junior minister for petroleum said on Thursday in Davos that climate change is not a "big issue" for Africa's largest producer of oil. "Climate change is not really a big issue for us," Timipre Sylva told Bloomberg’s Francine Lacqua at the World Economic Forum’s annual meeting in Davos, Switzerland. Nigeria is one of, at…
Nigeria’s output aligns with quota as OPEC raises 2020 outlook
A rise in oil demand growth this year will be offset by a sharper increase in non-OPEC supply, OPEC said in its monthly oil market report published yesterday, even as Nigeria’s crude production last month....
‘Why government is committed to completion of modular refineries’
The Minister of State for Petroleum Resources, Timipre Sylva has disclosed that the modular refinery by Waltersmith located in Imo State, has advanced to a completion stage of over 90 per cent, stressing that the development would improve....
Dangote refinery: Raising hope for Nigeria’s oil sector
Presently, Nigeria is home to some of the world’s poorest performing refineries. That storyline may change in the next 12 months or thereabouts when the Dangote Petroleum Refinery, the largest single-train refinery in the world opens its doors for business.
‘Potential cuts by OPEC to keep oil price above budget benchmark’
Though observers see the price of international oil benchmark Brent crude at anywhere between $59 to $70 per barrel for 2020, based on varying projections for supply, global demand and whether...
Petroleum Industry Bill to be passed by mid-2020, says Sylva
Timipre Sylva, Minister of State for Petroleum Resources, says the review of the Petroleum Industry Bill (PIB) is at an advanced stage and full passage of the bill is expected mid-2020. Sylva made the announcement on Wednesday, in a statement to mark the new year which was made available to the News Agency of Nigeria…
Nigeria to profit from PPP investments in oil sector
Partnership between the Federal Government and indigenous oil players is expected to drive new investments in the oil refining space, as new modular refineries are expected to come on stream.
‘Oil discoveries across Africa may remain untapped over funding’
President Muhammadu Buhari yesterday, said unless the continent finds a sustainable solution, especially in the area of finance, most discoveries on the continent may remain untapped.