…Says security is pre-condition for oil firms to return The administration of President Muhammadu Buhari is very committed to the development of Bayelsa State and other states of the Niger Delta, the Minister of State for Petroleum Resources, Chief Timipre Sylva said on Monday. He spoke in Yenagoa, at the special town hall meeting organized…
Daniel Terungwa The Nigerian Navy said it detained and handed over a suspected smugglers’ vessel to the Nigerian Maritime Administration and Safety Agency (NIMASA), for switching off its transponder. Capt. Suleiman Mohammed, First Lieutenant, Nigerian Navy Ship (NNS) Pathfinder, Port Harcourt, told newsmen during the handover of the vessel, MV Dandellan Grace to NIMASA. He…
The Nigerian Maritime Administration and Safety Agency (NIMASA) has declared its intention to work in partnership with the Presidential Amnesty Programme (PAP) in the fight against piracy and other crimes in the country’s maritime domain. The Director-General of NIMASA, Dr Bashir Jamoh, made this known in a statement in Lagos recently. Jamoh, during a working…
Daniel Terungwa Federal mining licensors at Nigeria’s Mining Cadastre Office (MCO) are looking to February 12 to commence the revocation of some 2,763 mineral titles whose holders have failed to pay outstanding yearly service fees in a new aggressive revenue drive designed to swell government’s coffers in 2021. The titles at risk of federal axe represent 25…
Daniel Terungwa Governor Udom Emmanuel of Akwa Ibom State on Saturday commissioned a nine-meter fast security escort vessel, ‘MV Norfin Swift’ built by Norfin Offshore Shipyard Ltd in Oruk-Anam. This is in line with his avowed determination to reposition the state towards becoming the most efficient maritime hub in the Gulf of Guinea and with…
Daniel Terungwa Egypt’s Minister of Petroleum Tarek el Molla has said that the Ministry of Petroleum and Mineral Resources is working on turning Egypt into a regional hub for trading oil and natural gas. Addressing the House of Representatives’ plenary session, el Molla said the Ministry of Petroleum and Mineral Resources has been working on…
Mordi chukwunonso Esther The Nigerian National Petroleum Corporation (NNPC), has repaid $3.081 billion from the $4.689 billion cash call arrears it negotiated with its Joint Venture (JV) partners, leaving an outstanding indebtedness of $1.609 billion. In a report published recently, the NNPC stated that the repayments, which stood at 68.69 per cent of the total;…
Mordi chukwunonso Esther The Nigerian National Petroleum Corporation has said it spent almost N50bn to repair and manage pipelines in 10 months. This was disclosed in The NNPC’s latest monthly report which showed that a total of 363 vandalised points were recorded from January to October 2020. The corporation spent N5.48bn on pipeline repairs and…
Mordi chukwunonso Esther Savannah Energy Plc, a British oil and gas company, has reduced its planned four-year capital expenditure in Nigeria by 15 percent from $118 million to $100 million. In a statement released on the 25th of January, the company said it had amended its 2020-2023 Nigeria’s expenditure programme which was published in 2019…
Mordi chukwunonso Esther The Nigerian National Petroleum Corporation (NNPC) has said that its downstream subsidiary, the Petroleum Products Marketing Company, recorded a total of ₦1.95tn from the sale of white products for the period October 2019 to October 2020. It stated that out the total revenues generated from the sale of white products, Premium Motor…
