FG sets below $10pb production cost target for oil industry
…Unions kick against cut in wages By Obas Esiedesa The Federal Government has set a target of $10 or less per barrel production cost for Nigeria’s oil industry. The Minister of State, Petroleum Resources, Chief Timipre Sylva, who spoke on Tuesday at the launch of the Nigerian Upstream Cost Optimisation Programme, NUCOP, said it has become […]
Shortfall in JV funding responsible for stagnation in oil industry —NAPE President
The amount of money earmarked for exploration has dwindled over the years and that is directly proportional to discoveries
Centre for N-Delta Studies urges transparency in oil industry
Centre for Niger Delta Studies, CNDS, of the Niger Delta University, Bayelsa State, has bemoaned the prevalence of corruption in the oil and gas industry, calling for increased transparency and accountability in the sector.
EITI backs NEITI on oil industry transparency, accountability
THE Extractive Industries Transparency Initiative, EITI has declared its support for the Nigeria Extractive Industries Transparency Initiative, NEITI, targeted at achieving increased transparency and accountability in Nigeria.
Nigeria no longer has resources to fund oil industry, FG laments
The Federal Government, Thursday, stated that the country no longer have the resources to fund the country’s oil and gas industry, and is therefore, considering and developing new models of financing for the industry in the days ahead.
