As the Federal government reel out the guideline for the bid of the 57 marginal field, the government will rake in about N2.4 billion as non-refundable fees only. According to the guidelines on the 2020 oil bid round exercise interested bidders are to pay Department of Petroleum Resources (DPR) non-refundable chargeable fees as follows,…
The Organisation of Petroleum Exporting Countries, OPEC, and India have expressed commitment toward tackling problems in the oil market. Specifically, HE Mohammad Sanusi Barkindo, OPEC Secretary General, held a bilateral meeting with HE Dharmendra Pradhan, India’s Minister for Petroleum and Natural Gas, via videoconference to discuss the importance of the OPEC-India partnership and further ways…
Good morning and welcome to this 133rd Meeting of the Economic Commission Board – our first meeting held by video conference. OPEC and its esteemed Member Countries have broken a lot of new ground throughout the crisis spawned by the COVID-19 pandemic. Through virtual meetings like this, we have ushered in the largest stabilization…
The Petroleum Products Pricing Regulatory Agency, PPPRA, has announced that henceforth the forces of demand and supply would determine the price of fuel in Nigeria. In the document signed by its Executive Secretary, Mr. Abdulkadir Saidu, the PPPRA, however, stated: “In exercise of the Powers conferred on it by Sections 7 and 24 at the…
PT Odyssey Maritim Nusantara company, owners of KM ODISSE has requested the Bali maritime authorities to search for a missing ship with 21 crew. According to FleetMon, “General cargo ship KM ODISSEY was reported missing in the morning Jun 4 in Bali sea, Indonesia. READ Breaking: Bonny Light price crashes further to $57.21, threatens budget 2019…
As part of measures to cope with the boom and bust cycle in the global crude oil market and to sustain revenue generation for the Country, the Nigerian National Petroleum Corporation (NNPC) is firming up a bouquet of business portfolios in the power, medical, housing and other sectors that would strengthen the profitability of the…
Investing in African Mining Indaba (Mining Indaba) has released the results of its latest research project; dedicated to analysing the initial impact of the COVID-19 pandemic on African mining businesses, operations and investment decisions, as well as forecasting investment and procurement levels over the next 6-12 months. READ Kenya: €188m African Development Bank loan to boost…
… Deploys Online Petroleum Products Procurement Solutions IN line with the Transparency, Accountability and Performance Excellence (TAPE) agenda of the present Leadership of the Nigerian National Petroleum Corporation (NNPC), and the commitment to continually deploy Information and Communications Technology (ICT) for the purposes of operational efficiency and accountability within the corporation’s system, the National Oil…
THE Nigerian Content Development and Monitoring Board (NCDMB), has waded into the N970 million dispute between the Nigeria Liquefied Natural Gas (NLNG), and a Nigerian company, Macobarb International. News Agency of Nigeria (NAN) gathered that the N970 million contractual dispute is being mediated by the NCDMB as reconciliatory meetings were held at NCDMB’s headquarters in…
Nigerian President, Muhammadu Buhari, has approved the temporary sale of government’s rights (stakes) in 57 of oil blocks as the novel Coronavirus weighs in on the economy of the Africa’s biggest crude exporter. The Department of Petroleum Resources (DPR), an agency of Nigerian government, which stated this, noted that it had on Monday, June 1,…