January 21, 2015
Nigeria pays Ghana $10m in default of energy agreement

Nigeria has paid the sum of $10m to Ghana in breach of contract for failing to supply gas as spelt out in the West African Gas Pipeline project agreement. This was disclosed by Ghanaian President John Mahama while visiting Germany. President Mahama said the country’s power plants that rely on gas from the West Africa…

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January 18, 2015
FG reduces PMS pump price to 87 Naira per litre

The Nigerian government has announced a reduction in the fuel price of petrol from N97 per litre to N87 per litre. The Minister of Petroleum Resources, Diezani Alison-Madueke, said at a press conference at the presidential villa, Abuja, on Sunday that the new price regime would take effect at midnight today. Mrs. Alison-Madueke said the…

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January 14, 2015
DPR to revoke non-performing Marginal Fields by March 2015

The Federal government has announced plans to revoke the licences of the operators of non-perfoming or idle fields, especially the marginal field owners, in March this year. The country has 315 oil fields in total but out of this number, only 218 are currently productive with about 97 oil fields lying idle. This is despite…

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January 14, 2015
Nigeria Loses Over $6 bn yearly to Crude Oil Theft – TUC Boss

The State Chairman, Trade Union Congress of Nigeria (TUC) Rivers State, Comrade Hyginus Chika Onuegbu has called on governments at all levels and other employers to, instead of seeking to embark on reducing the workforce in their ploy, following austerity, they should cut down on some of the wasteful spending on political hangers, other executive…

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January 8, 2015
Nigerian Professor Develops Effective Corrosion MGT Methods in Oil Industry

A PTDF researcher and associate Professor of Petroleum Microbiology/Microbiotechnology from the Federal University, Ndufu-Alike, Ikwo, Ebonyi State (FUNAI), Dr.Chuma Okoro, has developed the most cost effective method of managing souring and corrosion related problems in the global oil and gas industry. Dr. Okoro, who made this known during his presentation at the 2014 PTDF/FUNAI Technology…

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January 6, 2015
Nigeria’s crude oil export to Europe, Asia drop

Nigeria’s crude oil export to Europe and Asia, two of the country’s key markets, declined by 6.6 million barrels in September 2014, further reducing the country’s oil revenue at a time the plunge in global oil prices entered its third month. Report by Ship and Port online reported yesterday that the fall in oil prices,…

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January 6, 2015
NEITI Audit Report And Fiscal Responsibility

The Nigerian Extractive Industries Transparency Initiative (NEITI) presented to the public two independent audit reports on June 25 2014. These were the 2007-2011 Fiscal Allocation and Statutory Disbursement Audit and the Solid Minerals Audit reports. This was the second public presentation of reviews of federal fiscal allocation and statutory disbursement by NEITI covering the 2007-2011…

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January 5, 2015
Stop Losing 400,000 Barrels of Oil Per Day, Fashola Tells FG

Lagos State Governor, Mr. Babatunde Fashola, at the weekend, asked the federal government to stop losing 400,000 barrels of crude oil per day, which he said, could earn the country nearly $7.8 billion per annum at $50 per barrel. The governor also faulted the austerity measures the federal government put in place to stem the…

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