oil and gas

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PENGASSAN withdraws plan to shut down oil sector

PENGASSAN withdraws plan to shut down oil sector

By  Victor Young Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has suspended its plan to shut both the upstream and down sectors of the nation’s petroleum industry from Monday, after Rivers State government released the 22 offshore staff ExxonMobil detained since Thursday. Twenty-one of the released workers are members of PENGASSAN, while […]

Oil and Gas in Africa is good business — NJ Ayuk

Oil and Gas in Africa is good business — NJ Ayuk

Oil and Gas Companies Can Fuel Economic Growth, Stability, and Improved Quality of Life in Africa There is a way for African countries and societies to get the most value from their resources and, in doing that, making a positive impact in the world. Greater female empowerment, better governance, and more responsive national oil companies […]

Ijaw group endorses forensic audit of NDDC

Ijaw group endorses forensic audit of NDDC

By Jimitota Onoyume – Warri A group, Izon-Ibe Oil and Gas Producing Communities Association, has thrown its weight behind the forensic audit of the Niger Delta Development Commission, NDDC, saying it is a step that will reposition the commission to be effective on its mandate in the region. President of the group, Dr Irawo Joseph […]

Equatorial Guinea expects major oil & gas investments in 2020

Equatorial Guinea expects major oil & gas investments in 2020

The Ministry of Mines and Hydrocarbons has concluded its work program and budget meeting evaluations after technical negotiations with oil and gas companies; The country estimates $1.2 billion in investments and a contingent forecast of $273 million into its hydrocarbon sector in 2020; The country is actively pursuing international investors in an effort to increase […]

Onne Road, bridge projects get ministerial approval to drive $12.5b investments 

Onne Road, bridge projects get ministerial approval to drive $12.5b investments 

By Soni Daniel The Federal Government is expected to award contracts for the construction of a 612-metre bridge to link Ikpokiri Island with the rest of Onne Oil and Gas Free Zone, and for the reconstruction of a 3.5km dual carriageway into the Notore Industrial City in Rivers State. Both Ikpokiri Island and Notore Industrial […]

Give us 13% derivation fund directly, Edo oil/gas host communities tell Buhari

Give us 13% derivation fund directly, Edo oil/gas host communities tell Buhari

Festus Ahon Host communities of Oben and Gelegele Flow Station in Edo State have appealed to President Muhammadu Buhari to follow the 1999 Constitution of the Federal Republic of Nigeria and direct that the 13% oil derivation fund for facilities in their domains be paid directly to them. The communities, which are hosts to facilities […]

SKEWED CRUDE PROFIT SHARING: How Nigeria lost over $62billion

SKEWED CRUDE PROFIT SHARING: How Nigeria lost over $62billion

Why bill was taken to Buhari in UK for assentHistory was made in the petroleum sector of Nigeria’s economy on Monday, October 4, 2019, when President Muhammadu Buhari in faraway London, United Kingdom, assented to the amended Deep Offshore and Inland Basin Production Sharing Contracts Act. Following the development, what has the country lost, stands to gain? The answers are tucked in this piece.

Notable points from Nigeria’s President, Buhari Independence Day Speech

Notable points from Nigeria’s President, Buhari Independence Day Speech

Rasheed Sobowale Nigeria’s President Muhammadu Buhari Independence Day Speech on Tuesday highlights the present administration’s achievement so far in various sectors of the country’s economy and security. Here are notable points from the speech; As I stated four years ago, “Change does not just happen… We must change our lawless habits, our attitude to public […]

Display petrol prices or face sanctions, PPPRA warns oil marketers

Display petrol prices or face sanctions, PPPRA warns oil marketers

By Michael Eboh Petroleum Products Pricing Regulatory Agency (PPPRA), yesterday, stated that henceforth, any marketer who fails to display prices of petroleum products at their retail outlets, also called filling stations, as stipulated by the law, would be sanctioned. In a statement in Abuja, General Manager, Corporate Services of the PPPRA, Mr Apollo Kimchi, said […]

UPDATED: $9.6bn contract fraud: P&ID’s officials plead guilty to 11-count charge

UPDATED: $9.6bn contract fraud: P&ID’s officials plead guilty to 11-count charge

By Ikechukwu Nnochiri The Economic and Financial Crimes Commission (EFCC) on Thursday, arraigned two firms that were linked to the controversial oil contract (P&ID) that led to the judgement of the British Court that ordered the seizure of Nigeria’s foreign assets worth $9.6billion. Meanwhile, the firms, P&ID Ltd, Virgin Island and its Nigerian affiliate, P&ID […]

FG considers Executive Order on local barite production, consumption

FG considers Executive Order on local barite production, consumption

As miners set to scale up production, compete internationally By Gabriel Ewepu THE Federal Government, Friday, considered an Executive Order on local production of barite and consumption by the oil and gas sector instead of importation. This was the assertion of the Minister of Mines and Steel Development, Arc Olamilekun Adegbite, during a courtesy visit […]

DESOPADEC: Oil and gas forum kicks against Mayuku’s nomination

DESOPADEC: Oil and gas forum kicks against Mayuku’s nomination

Itsekiri Oil and Gas Communities Forum, an umbrella body of Itsekiri oil and gas-related matters has kicked against the nomination of the immediate past Delta State House of Assembly member, who represented Warri South-West, Hon. Daniel Mayuku as Executive Director in the Delta State Oil Producing Areas Development Commission, DESOPADEC by the Governor of Delta State, Dr. Ifeanyi Okowa.