NMDPRA Keeps Natural Gas Prices Unchanged for the Domestic Market The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced its decision to uphold the current Domestic Base Price (DBP) and pertinent wholesale gas prices for essential domestic sectors of the Nigerian economy. This decision, by the Petroleum Industry Act (PIA) of 2021, falls…
Former Navy Officer Decries Decay in Navy and Escalating Oil Theft in Nigeria Former naval officer Commodore Promise Zebulon Dappa (rtd) has expressed deep concern over the two-decade-long struggle against oil theft in Nigeria. He believes that the alleged involvement of the Navy in oil theft and other maritime crimes must be addressed for any…
Minister of Budget and Economic Planning Unveils Vision for 2024 Budget and Economic Growth Senator Abubakar Bagudu Discusses Key Initiatives and Priorities for Sustainable Development In an exclusive interview on the sidelines of the Arise News, KPMG 2024 Budget Day in Lagos, Senator Abubakar Bagudu, the Minister of Budget and Economic Planning, provided a comprehensive…
Tinubu Plans to Replace Underperforming Cabinet Members In line with his commitment to regularly assess the performance of his cabinet members, President Bola Ahmed Tinubu is poised to make changes by removing some ministers who are deemed to be “struggling in their new positions.” This decision follows a warning issued by President Tinubu during a…
Federal Government Mandates MDAs to Remit 100% of Revenue to New Treasury Account The Federal Ministry of Finance, acting on behalf of the federal government, has issued a directive to all Ministries, Departments, and Agencies (MDAs), instructing them to remit 100 percent of their internally generated revenue (IGR) to the sub-recurrent account, which serves as…
ULCC Up for Sale Once Again, KOTC Secures VLCC Contract Rumors have surfaced regarding the potential sale of Euronav’s ULCC Oceania, with indications pointing to a rare VLCC new building contract on the horizon. Rumors regarding the potential sale of Euronav’s ULCC tanker Oceania have resurfaced in 2024. Shipbrokers had initially reported its sale in…
Republican Presidential Contenders Embrace Oil and Gas in Fifth Debate At a recent debate in Iowa, both Ron DeSantis, the former governor of Florida, and Nikki Haley, the former governor of South Carolina, expressed support for oil and gas. Ron DeSantis emphasized his commitment to stimulating more local production, while Nikki Haley highlighted the importance…
Magdalene Ajani Departs Ministry of Marine and Blue Economy as Tinubu Reshuffles Permanent Secretaries Continuing his restructuring efforts within Ministries, Departments, and Agencies of the government (MDAs), President Bola Ahmed Tinubu has approved a comprehensive reshuffling of Permanent Secretaries in various government ministries. As a result of this restructuring, the influential Permanent Secretary of Marine…
Norway’s Oil and Gas Firms Set to Intensify Exploration Efforts in the Coming Year Norwegian oil and gas companies are set to drill more exploration wells in 2024, aiming to maintain Norway’s position as a key supplier to Europe. The Norwegian Offshore Directorate expects between 40 and 50 wells to be completed this year, an…
Demonstrators in Libya Pose Threat to Shut Down Oil and Gas Facilities Protesters in Libya, particularly a group known as the Corruption Eradication Movement, have issued a 72-hour ultimatum, threatening to shut down two oil and gas facilities near the capital city, Tripoli. The ultimatum is set to expire on Friday. In a video statement…
