By Mordi chukwunonso Esther The Federal Government has announced a reduction in the pump price of premium motor spirit, otherwise known as petrol, from N168 to N162.44 per litre with effect from December 14. The product presently dispenses at N168, following the decision of the Petroleum Products Marketing Company to increase the ex-depot price of…
By mordi chukwunonso Esther The Minister of State for Petroleum Resources, Timipre Sylva, has announced that the much awaited Petroleum Industry Bill (PIB) will include provisions for lower taxes to sustain stable investments in Nigeria’s oil sector. The minister also pointed out that Nigeria’s plan to ensure the growth of its oil industry has not…
By Mordi chukwunonso Esther Concerned Landlords and Indigenes of Host Communities to the Nigerian Agip Oil Company, NAOC, have threatened to shut down operations of the company, over alleged neglect and conspiracy against the people of Niger Delta. The group, consisting of mainly youths from NAOC’s host communities, said the threat is imperative following the…
By Mordi chukwunonso Esther Fuel marketers have opposed the N5 reduction in the price of premium motor spirit (petrol) by the Federal Government saying it is not possible to sell the product at N162 per litre amid the current market realities. The Minister of Labour and Employment, Dr Chris Ngige, had earlier announced the petrol…
Daniel Terungwa Uganda has granted environmental approval for a $3.5 billion pipeline to export crude oil from western fields to the Indian Ocean coast in Tanzania. Uganda’s state-run National Environment Management Authority (NEMA) approved the Environment and Social Impact Assessment (ESIA) for the construction of the East African Crude Oil Pipeline (EACOP) project. The environment…
Five startups that won $10,000 each from the Nigerian Content Development and Monitoring Board (NCDMB) sponsored NOGTECH Hackathon, will be showcasing their innovative solutions at the Demo Day scheduled for Thursday, December 10, 2020. The Nigerian Oil and Gas Technology (NOGTECH) Hackathon was launched in July 2020, when the Nigerian Content Development and Monitoring Board…
By Ikenna Omeje As a result of the devastating impact of Covid-19 pandemic on Nigeria’s economy, the country’s crude oil export earnings plunged by 77 percent within three months — between January to April 2020, the Organisation of Petroleum Exporting Countries (OPEC) has said. It, however, noted that the country’s earnings have gradually improved and rebounded by 116 percent in November compared to April 2020 levels. The OPEC…
The Managing Director of the Transmission Company of Nigeria (TCN) and Chairman of the Executive Board of West African Power Pool (WAPP), Engr. Sule Abdulaziz, has attributed the delay in the execution of major projects within the ECOWAS Sub-region to the COVID-19 pandemic that is ravaging the world. Abdulaziz, who is also the Acting Managing…
Following the formal launch of the National Gas Expansion Program (NGEP) by President Muhammadu Buhari, which will deliver 1 million vehicle conversions free to Nigerians, the Marketing Manager of Flash Gas Limited, Mr Kayode Oluwadare, is of the view that Nigeria has enough gas to drive the Autogas/AutoCNG scheme for the next five decades. Oluwadare…
Daniel Terungwa The International Maritime Organisation (IMO), a specialised agency of the United Nations responsible for regulating shipping, has extolled for the second time in about six months, Nigeria’s leadership role in the quest for security in the Gulf of Guinea. IMO in a letter addressed to Director-General of the Nigerian Maritime Administration and Safety…