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The House of Representatives Committees on Petroleum Upstream, has given the Nigerian National Petroleum Corporation, (NNPC) two weeks ultimatum to appear and explain alleged irregularities in the corporation. The Chairman of the committee, Rep. Sarki Ada (APC-Sokoto) issued the ultimatum during a public hearing, following the refusal of NNPC to honour invitations or reply letters. “We have invited some oil ...

… Says Project to Generate 3,000 Jobs as Construction Work Kicks off……….The Nigerian National Petroleum Corporation (NNPC) has kicked off construction work in the Port Harcourt Refinery rehabilitation project with a firm commitment not to fail Nigerians.A statement by the Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, quoted the NNPC Chief Operating Officer, Refineries ...

Some marginal fields’ operators have kicked against the revocation of 11 oil field licences by the Department of Petroleum Resources (DPR) under the guise that the affected fields had been left fallow, stressing that the action of the regulator has jeopardised investments valued in excess of $450 million and exposed them to local litigations and international arbitrations. They appealed to ...

PRESIDENT Muhammadu Buhari has approved the recommendation of the Ministry of Transportation under Rt. Hon. Rotimi Amaechi for the setting up of an Administrative Panel of Inquiry to investigate the Management of the Nigerian Ports Authority, NPA. The President has also approved that the Managing Director, Hadiza Bala Usman step aside while the investigation is carried out. Mr Mohammed Koko ...

Nigeria’s leading indigenous conglomerate, BUA Group has announced that it has signed a contract agreement with Lummus Technology for the establishment of a polypropylene plant in its refinery and petrochemical project. The completion of the project is to help boost Nigeria’s capacity to meet the country’s increasing demand for petrochemical products. The Chairman of BUA Group, Abdul Samad Rabiu, while ...

The Chairman, United Bank for Africa (UBA) Plc and Transnational Corporation of Nigeria (Transcorp) Plc, Tony Elumelu has called on the Federal Government to prioritise power supply as the country needs about 100,000 megawatts of electricity to support businesses and achieve sustainable economic development. Speaking on ARISE TV on economic issues, African development and entrepreneurship, Elumelu said Nigeria needs about ...

The Federal Executive Council (FEC) has approved N6.2 billion for execution of various power projects across the country. Minister of Power Sale Mamman disclosed this when he briefed State House correspondents on the outcome of the meeting presided over by President Muhammadu Buhari, at the Presidential Villa, Abuja. According to Mamman, contracts approved include those for procurement of transformers and ...

…………..by James Ikenna……. Rehabilitation work has started at the Port Harcourt Refinery Company (PHRC) as the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari has assured that Refinery will come on stream on or before April 5, 2023 when its repairs will have been completed. Speaking at Eleme, Rivers State, at the technical kick-off of ...

Nigerians have expressed concern over the recent increase in the price of crude oil. The Brent Crude price on Tuesday rose to $68.52 per barrel by 1.42 percent. This rise in crude price suppose to have been some gains for Nigeria but industry stakeholders are diverse with their views and opinion over this rise in crude price. Moreso the immediate ...

Stakeholders in the power sector have raised the alarm over the delay in the inauguration of the Board members of the Transmission Company of Nigeria (TCN), warning that the development pose grave danger to the already fragile sector. The delay in the inauguration of the TCN Board is coming five months after they were appointed by President Muhammadu Buhari. The ...