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Senate Passes PIB for Second Reading

The Senate on Tuesday at plenary passed for second reading the Petroleum Industry Bill (PIB). The passing of the bill for second reading followed an intensive debate on the intents and purpose of the PIB has been pending before the National Assembly since 2007. The PIB was sponsored for passage in 2007 and 2011 in the 6th and 7th Assembly, ...

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FG Excludes Foreign Firms from Contracts Below N5 Billion

The Federal Government on Tuesday declared that contracts not above N5bn would no longer be awarded to any foreign firms in the country. It said the decision was part of a way of patronising the indigenous firms in line with the planned local content laws in the country. The Minister of State, Works and Housing, Abubakar Aliyu, stated this at ...

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NNPC Reduces Debts to IOCs to $1.58bn, Pays Off Mobil

Out of about $4.6 billion negotiated joint venture (JV) oil production debt Nigeria was owing international oil companies (IOCs), about $3.02 billion has been paid by the Nigerian National Petroleum Corporation (NNPC), leaving about $1.58 billion as the outstanding, a report by the corporation has disclosed. The NNPC in its October 2020 Federation Account Allocation Committee (FAAC) report, explained that ...

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Buhari Writes Senate, Seeks Confirmation of Garba as NERC Chairman

President Muhammadu Buhari has written to the Senate, seeking for the screening and confirmation of of Engr. Sanusi Garba as Executive Chairman of the Nigeria Electricity Regulatory Commission (NERC). In this regard and if confirmed by the Senate, Garba will be replacing Professor James Momoh from Edo State, South South. Also to be confirmed are: Dr. Musiliu Olalekan Oseni as ...

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IOCs NCDMB and NLNG Kick Against Proposed Increase on Local Content Fund

……by Musa Ibrahim……. International Oil Companies (IOCs), Nigerian Content Development and Monitoring Board, (NCDMB) and key organisations in the oil and gas industry, have kicked against increasing the percentage of the Nigerian Content Development Fund, NCDF, from the current one per cent to two per cent as proposed in the amendment of the Nigerian Oil and Gas Industry Content Development, ...

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MOMAN Working with NASS to Enhance Out Come of PIB

………by Jenifer Dike……………… The Chairman of Major Oil Marketers Association of Nigeria (MOMAN), Mr.Tunji Oyebanji has said that the Association is working closely with the National Assembly and the Ministry of Petroleum Resources to ensure that the out come of the Petroleum Industry Bill would enhance the deregulated downstream sector. Oyebanji welcomed the proposed creation of the Nigerian Midstream and ...

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PENGASSAN Stands in Solidarity to End Brutality in All Form

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), stands in solidarity with all well-meaning Nigerians, as we peacefully demand the Nigerian Government puts an end to Brutality in all and any form, by any organisation or sector. In the past few weeks, reports have come to light detailing the excessive use of force by police officers: including ...

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NUPENG Denies Ordering Shutdown of Petrol Stations, Installations

The National Union of Petroleum and Natural Gas Workers (NUPENG) said it had not directed any shutdown of fuel stations or other oil installations In a rejoinder, which it’s National President, Williams Akporeha, and National General Secretary, Olawale Afolabi, signed, the union said none of its organs made the order because of the ongoing EndSARS protests. NUPENG expressed its support ...

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Power supply’ll increase to 7,000MW in one year — NDPHC Boss

The Managing Director, Niger Delta Power Holding Company, Chiedu Ugbo, projects that power supply will increase from the about 5,000 megawatts currently available to 7,000MW in one year. How would describe the progress of power generation in Nigeria The installed capacity in the country as 1999 was between 5,000 to 6,000MW. When I say installed, I mean the nameplate of ...

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NNPC GMD Lauds Waltersmith on Modular Refinery Project

The Group Managing Director of Nigeria National Petroleum Corporation (NNPC), Mele Kyari has lauded Waltersmith Petroman Oil Limited for completing its 5,000 barrels per day (bpd) Modular Refinery projected located in Ibigwe, Imo State. The NNPC GMD who was represented by Yusuf Usman, Chief Operating Officer, Gas & Power, during a pre-commissioning visit to the plant, said that the modular ...

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