The Department of Petroleum Resources, DPR said it generated over N470 billion in revenue in the first half, thereby surpassing its projected targets by over N86 billion.

PETROLEUM and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has petitioned President Goodluck Jonathan, urging him to personally intervene in the alarming crude oil theft and pipeline vandalism in the country, to save the nation’s economy from collapse.

Forte Oil Plc has disclosed plans to expand its operation beyond the shores of Nigeria to other West African countries.

…Improved power boosting businesses in Kaduna
Kano is one of the states in the federation that is groaning under epileptic power supply . According to statistics made available by manufacturers, the Ministry of Power was supposed to supply Kano zone that comprises Katsina, Jigawa , Kano and Niger Republic with 8 percent of the total power generation based on distribution formula, but what was being handed to the zone was just 3 percent.

Nigeria’s Power Minister Professor Chinedu Nebo recently affirmed that come December 2013, Nigeria will experience an improved power supply. Such promise has been a recurring issue; hence many Nigerians will simply see it as the usual.

The problems PHCN is causing Nigerians have gotten to an alarming state. If you are a visitor to the country, you would not need to be told that the country is having a serious issue with power supply. While majority are complaining of serious power problems, some are still saying that there is no problem and that power is being dispensed equitably. These are some of the opinions as compiled by SATURDAY VANGUARD.

Hopes for a harmonized stance on the contentious Petroleum Industry Bill, PIB, between the Federal Government and the oil majors under the auspices of the Oil Producers Trade Section, OPTS, dim further. Both parties maintained their positions at the just concluded conference organized by the National Association of Energy Correspondents.

The Federal Government has given the nod for the preferred bidders to take full possession of the 15 Power Holding Company of Nigeria, PHCN successor companies, following substantial compliance recorded in payments by the investors at the expiration of the deadline last Wednesday.

The Nigeria Content Development and Monitoring Board, NCMDB, said it currently has over US$200 million in its Fund, to promote the execution of projects in the oil and gas sector in areas such as fabrication, manufacturing, and training of local talents.

The Federal Government has said that indigenous companies’ contribution to the oil and gas sector has recorded significant improvement, and currently accounted for about 10 per cent of the countries crude production.