Service providers in the oil and gas industry should learn how to cut costs in the face of dwindling resources in the sector, if they desire to remain afloat.This is as the Nigerian National Petroleum Corporation, NNPC, said it is committed to promoting local capacity in the sector.

Despite various allegations of financial impropriety levelled against the Nigerian National Petroleum Corporation, NNPC, on a continuous basis, the Federal Government has defended the Corporation, saying it is the most transparent organisation in terms of its processes and accounting. Speaking in an interview in Abuja, the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, said the NNPC is today more transparent than it has ever been over the last 25 years.

Oil service giant, Petrolog Group, has acquired an ocean diving support vessel to boost its operations and advance the local content policy of the Federal Government, thereby setting the pace in its area of operations. The brand new 100 per cent Nigerian flagged, ABS classed Dynamic Positioning, DP2, dive support system vessel, which is currently in Nigerian waters is the largest indigenous owned vessel in its class and is capable of providing diving, offshore construction and field support.

Four weeks after the Nigerian National Petroleum Corporation, NNPC launched its kero correct project, aimed at making kerosene available to all corners of the country, the exercise appears to have been marred by non-availability of the product. This is as Nigerians, who had expressed relief with the seeming reduction in price are frustrated by their inability to access the product.

DANGOTE Group has expressed optimism that with its ongoing agricultural projects across the country, Nigeria is on its way of being self-sufficient in the areas of food production.