Mordi chukwunonso Esther The Senate, on Monday, begun consideration of the Petroleum Industry Bill with the Women in Energy Network rejecting the 2.5 per cent the host communities are demanding from the investors in the oil and gas sector as annual levies. The host communities started their demand when they asked for 10 per cent…
Daniel Terungwa The world’s biggest shipping company, Maersk, has called for a more effective military response to surging pirate attacks and record kidnappings off the coast of West Africa. According to a recent report by the International Maritime Bureau’s Piracy Reporting Centre, the number of attacks on vessels globally jumped 20% last year to 195,…
The House of Representatives Committee on Customs and Excise has warned that the lack of scanners at the ports across Nigeria poses threat to the nation’s security. Chairman of the committee, Leke Abejide, said the unavailability of scanners could aid importation of illegal arms and ammunition, thereby compromising the nation’s security. Abejide made this known…
Daniel Terungwa A rally in the price of copper globally is a major boost for Zambia in its efforts to revive the economy impacted by the coronavirus (COVID-19) and drought. The sharp recovery in the price of the commodity has been on the back of United States policy expectations as the new administration of President…
Daniel Terungwa The selling process of the oil company (Sonangol)’s stake in China International Holding (CSIH) may begin this year, according to the Privatisation Programme (Propriv) underway in the country. China Sonangol International Holding which was created in 2004, has been based in Hong Kong, since September 6, 2012. CSIH is owned by Dayuan International…
Daniel Terungwa President Muhammadu Buhari has for the second time, blamed the banditry in Zamfara State on the mining activities in the region. The president made this known recently in a statement by presidential spokesperson, Garba Shehu. Mr Buhari had in 2019 banned all mining activities in Zamfara, saying they were to blame for the rise…
Daniel Terungwa Managing Director, Financial Derivatives Company of Nigeria, Bismarck Rewane, has said HEIRS Holdings $1.1 billion Oil Mining License (OML) 17 acquisition deal from the Shell Petroleum Development Company of Nigeria Limited, Total E&P Nigeria Limited and ENI will benefit the Federal Government, investors and the multinationals. The renowned economist, while analysing the major…
Mordi chukwunonso Esther Seplat Petroleum Development Company Plc, a leading indigenous Nigerian oil and gas exploration and production company with a strategic focus on Nigeria, has announced that the Court of Appeal has suspended the Order of Interlocutory Injunctions made by the Lagos Federal High Court that led to the sealing of Seplat’s Corporate Head Office in…
Mordi chukwunonso Esther Oil and gas industry players have said that Nigeria is likely to see about $9 billion additional investment in deep water projects with the right fiscal framework in the revised Petroleum Industry Bill (PIB). A document issued by the Oil Producers Trade Section, OPTS, of the Lagos Chamber of Commerce and Industry,…
Mordi chukwunonso Esther The Minister of State for Petroleum Resources, Chief Timipre Sylva has announced new dates for the 2021 Nigerian International Petroleum Summit (NIPS). The official Oil and Gas meeting of the Federal Republic of Nigeria will now take place at the international conference center in Abuja from June 6th to 10th, 2021. Sylva…