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Author Archives: admin

Kyari Assures Indigenous Shipping Coys of Support

The Nigerian National petroleum Corporation (NNPC) has expressed its readiness to support indigenous fleet owners to enjoy greater patronage and participation in the oil and gas maritime business in Nigeria. The Group Managing Director of NNPC, Mallam Mele Kyari, gave the assurance while playing host to members of the Nigerian Fleet Implementation Committee who paid a working visit to the ...

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Nigeria Declares 2021 To 2030 Decade Of Gas Development For Nigeria

The Federal Government has declared Jan. 1, 2021 to Dec. 31, 2030 as “The Decade of Gas Development for Nigeria”. The Minister of State for Petroleum Resources, Chief Timipre Sylva, made the declaration on Thursday at the Seventh Joint International Energy Forum and International Gas Union (IEF-IGU) Ministerial Gas Forum in Malaysia. Sylva said at the virtual meeting that Nigeria ...

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SEPLAT Reacts to Sealing of Corporate Building in Lagos

Seplat Petroleum Development Company Plc (“Seplat” or the “Company”) has reacted to a court order which was effected on 2nd December 2020 leading to the sealed off of its building and Corporate Headquarters located at 16A Temple Road, Ikoyi, Lagos. The building was sealed in connection with a court case by Access Bank against Cardinal Drilling Services Limited (“Cardinal Drilling”), ...

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NNPC Sets Target of $10 Per Barrel Production Cost

……….by Abisoye Shola…………. THE Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Mele Kyari, has said that the corporation is eyeing $10 per barrel cost of production and lament that currently Nigeria”s cost of production is on the high side saying the corporation has so far cut down cost by 5 percent. According to him, Nigeria remains one of the ...

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Withdrawal of $21bn NLNG Funds is Legal-NNPC

The Nigeria National Petroleum Corporation (NNPC) has said that the withdrawal of over $21 billion from the Nigeria Liquefied Natural Gas (NLNG) dividends account is legal. The Group Managing Director of NNPC, Mr. Mele Kyari, stated this on Thursday when he appeared before the House of Representatives Committee on Public Accounts. Kyari, who was represented at the hearing by Mr. ...

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DPR’s 2014 Revenue Collection Higher by 36 Percent — Auwalu

The Director, Department of Petroleum Resources (DPR), Mr Sarki Auwalu, says the department exceeded its revenue target by 36 per cent in 2014. Auwalu made this known when he appeared before the House of Representatives Public Accounts Committee in Abuja on Thursday. The DPR was summoned by the committee over the report by the office of the Auditor-General of the ...

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TCN Attracts $1.66bn for Projects Implementation

Transmission Company of Nigeria (TCN) has received over $1.66 billion from foreign donors for the implementation of various power projects embarked upon by it. Speaking with newsmen in Abuja, the Managing Director of TCN, Sule Abdulaziz, explained that most of the projects are at various levels of execution. The new Managing Director who is still on acting capacity noted that ...

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We’re Committed to Quality service – Total Nigeria

Total Nigeria Plc has said it remains committed to quality service in the downstream sector of the nation’s oil and gas industry. The oil firm said this on Wednesday in a statement to announce that it would be celebrating its Africa Customer Week next week. It said, “The Total Africa Customer Week provides the company an opportunity to pause, actively ...

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Court Adjourns OML 29 Suit Against Aiteo Untill Feb.25

A Federal High Court in Yenagoa on Wednesday, adjourned untill Feb 25, 2021, a suit against Aiteo Exploration and Production Limited, pending a Court of Appeal ruling. Justice Abimbola Awogboro had on March 3, 2020 declined to stop proceedings in the ongoing litigation by Nembe Communities, hosts to Oil Mining Lease (OML 29) over the adverse impact of oil exploration. ...

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Fresh Review Of Discos’ Capital Expenses, Tariff Imminent

The Nigerian Electricity Regulatory Commission (NERC) may again review the capital expenditure of the 11 respective electricity distribution companies (Discos) in the country’s power sector. The exercise is expected to also impact on the Discos’ tariffs. The Commission stated this in a recent notice it sent to stakeholders, which it explained would be in line with its statutory bi-annual review ...

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