OIL

On no account should we accept the ludicrous argument that there is a product that we can legislate a uniform price across the country. There is no such thing and whenever we do, we only help make undeserved money for some people while the purpose would not be achieved. We must begin to accept the well tested principle that the ...

…… insist their HQs be Moved to Niger Delta……… The Governor of River State, Nyesom Wike has alleged that the multinational oil companies are part of the complicity in the insecurity issues in the Niger Delta. The Governor while receiving the Minister of State for Petroeum Resources, Chief Timpre Sylva in Government house River State, dismissed the claims of the ...

Federal Government has said that the Edo Modular Refinery project, which is 95 per cent (mechanical works) completed in Ologbo, Ikpoba Okha Local Government Area of Edo State, will on completion attract more investment in modular refineries in Nigeria, generate employment and reduce youth restiveness in the Niger Delta. Senior Special Assistant to the President on Niger Delta Affairs, Mr. ...

By Jenifer Dike………… The Minister of State for Petroleum Resources, Chief Timpre Sylva has said that the National Assembly (NASS) may have to suspend its 2020 annual recess in order to fast track the passage of the Petroleum Industry Bill (PIB) which he said should be ready by February 2021. The need to fast track the passage of the bill ...

The Managing Director, Nigeria Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba, has said that Dangote Refinery project will open a vista for new technology transfer, massive job creation, training of local engineers as well as apprenticeship in world class marine and petrochemical engineering procedures. According to him the project in the Lagos Free Trade Zone can be described as ...

The Chairman of SPE Nigeria Council, Joe Nwakwe, said this while addressing the press on the forthcoming SPE Nigeria Council virtual conference titled: “Nigeria Energy Industry Transformation Summit (NEITS)” slated for August 25-27, 2020. He said the summit will feature notable speakers drawn from across the industry to speak on Nigeria’s refining capacity, economic diversification and relevance of Nigeria’s fossil ...

………..New Status to Deepen Commitment to Accountability & Transparency……….. The Nigerian National Petroleum Corporation (NNPC) has become an Extractive Industries Transparency Initiative (EITI) partner company, joining a group of over 65 extractives companies, state-owned enterprises (SOEs), commodity traders, financial institutions and industry partners who commit to observing the EITI’s supporting company expectations. The new status would require that NNPC: · ...

by Abisoye Shola……………… Nigeria’s crude oil market in Europe is again being threatened by United State crude supply. This is coming couple of years after the same crude pushed out Nigeria’s crude supply to the American market. According to market survey the increasing flow of the United States crude into Europe is now displacing the Nigeria’s traditional light, sweet crudes ...

by Musa Ibrahim……. The Nigeria National Petroleum Corporation (NNPC) has open a tender and bid for rehabilitation, repairs and enhancement of some of the nation’s pipeline network including those running from the crude oil terminals located at Escravos and Bonny to the refineries. It is expected that the interested private investors that will repair the pipelines and depots is to ...

by Musa Ibrahim……………. The House of Representatives ad-hoc Committee was on Tuesday received by the Tank farm owners who assured the commitee of the good safety measures put in place to forestall fire disaster on the facilities. The House committee members are on assessement visit to have a first hand information on the effects of the location of petroleum tank ...