Why cost of oil production may remain high – Experts
Unless a pragmatic approach aimed at reducing operating costs is deployed, stakeholders have raised concerns that cost of oil production will continue to be high in Nigeria compared to that of other oil-producing countries.
Failure of OPEC+ to deepen cuts may drive oil to $40, says report
New outlook by international observers has shown that a substantial build of global crude stocks and a corresponding drop in oil prices is imminent if additional oil production cuts by OPEC in 2020, is not followed by OPEC+.
‘Nigeria’s oil production is fully OPEC quota-compliant’
Nigeria, which has pumped above its OPEC quota for months to the ire of other members, brought down its crude oil production in November, to fully comply with its cap, the Minister of State for Petroleum Resources, Timipre Sylva has said.
Federal Government to hold oil licensing round mid-2020
The Federal Government has concluded plans to launch a new oil licensing round mid-2020 for both offshore and onshore, in a bid to hit its three million barrels per day output...
Sylva pledges to attract more federal projects to Bayelsa
The Minister of State for Petroleum, Chief Timipre Sylva, yesterday said he would use his position to attract more federal projects to Bayelsa State.
Minister seeks zero loss of oil output, others
The Minister of State for Petroleum Resources, Timipre Sylva, at the weekend challenged oil firms and the Petroleum Training Institute (PTI), Effurun, Delta State to come up with a proposal to assist the Federal Government in its agenda of zero loss of crude oil output as well as reduction...
Government to track fuel distribution in downstream sector
To curb petroleum products’ diversion and aid effective distribution of PMS, otherwise known as petrol, the Minister of State, Petroleum Resources, Timipre Sylva, has unveiled ‘Operation White’ project geared towards ensuring transparency and accountability...
‘Non-passage of PIB hurts oil industry investment’
From the Minister of State for Petroleum, Timipre Sylva, came yesterday a disclosure that the non-passage of the Petroleum Industry Bill ( PIB) has discouraged investments in the oil sector...
Crisis hits Bayelsa APC as two factions emerge
With less than six weeks to the November 16 Bayelsa State gubernatorial election, another major crisis is presently rocking the state chapter of the All Progressive Congress...