DPR approves One-million-barrel capacity onshore terminal project in Rivers

Construction of a one-million-barrel capacity onshore terminal in Nigeria has been approved by the Department of Petroleum Resources (DPR). Chairman of Green Energy International Ltd. (GEIL), Professor Anthony Adegbulugbe revealed the reports... Read more »

Firm sues NCDMB, ExxonMobil for local content laws violation

An indigenous oil servicing company in Akwa Ibom State, The Pioneer Divers Int’l Limited, has dragged the Nigeria Content Development and Monitoring Board (NCDMB) to court for alleged breach of local content... Read more »

NNPC pays $1.5bn cash call debt to IOCs

Damilola Shittu – Abuja The Nigerian National Petroleum Corporation (NNPC) says it has reduced cash call arrears owed to international oil companies, its Joint Venture partners, by $1.5bn. The corporation has cash... Read more »

Fuel subsidy, Nigeria’s biggest fiscal burden, says LCCI

Esther Ajibola – Lagos Lagos Chamber of Commerce and Industry, (LCCI), has described fuel subsidy which the World Bank said cost Nigeria N731 billion in 2018, as the biggest fiscal burden currently... Read more »

Shell proposes $15bn five-year investment plan in Nigeria

By Oke Peter The Shell Petroleum Development Company (SPDC) has unveiled a $15 billion investment in the oil and gas sector in the next five years. Its Managing Director, Osagie Okunbor, broke... Read more »

211 Nigerian oil blocks remain idle —Report

More than 50 per cent of Nigeria’s oil and gas blocks remain untapped even as crude oil production continues to hover around two million barrels per day while gas shortages persist in... Read more »

FG tasks local firms on IOCs’ divestments, others …Targets 4mbpd oil production

By Esther Ajibola The Minister of State for Petroleum Resources, Ibe Kachikwu has tasked indigenous operators to step up their investments and take over major operations from international oil companies, especially as... Read more »

Nigeria spends N10trn on petrol subsidy —Report

By Oke Peter At the backdrop of the continued comatose state of the Nigeria’s local refining capacity, the country may have spent about N10 trillion in the provision of pump price subsidy... Read more »

EITI confers highest disclosure status on NNPC

Mayowa Okekale – Abuja The gale of transparency and probity which has pervaded the operations of the Nigerian National Petroleum Corporation (NNPC) under the current dispensation received global affirmation over the weekend... Read more »

NLNG to sign $1bn Train 7 project local content plan

The Nigerian Content Development and Monitoring Board (NCDMB) and the Nigeria LNG Limited will on Friday (today) sign the Nigerian content plan for the NLNG’s Train 7 project, estimated to cost $1bn.... Read more »