April 15, 2014
FG grants Mobil licence to build 575MW power plant

The Nigerian Electricity Regulatory Commission, NERC, has granted operating licence to international oil company, Mobil Producing Nigeria Unlimited, MPN, to build and operate a 575-megawatt power plant in Eket, AkwaIbom State. Head, Public Affairs Department at NERC, Dr. Usman Abba Arabi, said in a statement that the planned power plant will boost Nigeria’s power sector….

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April 15, 2014
Shale: Nigeria’s crude export to US declines by 91%

NIGERIA has started to witness the negative effect of shale oil exploration in the United States of America, USA, and other parts of teh world, as Nigeria’s crude oil export to North America dropped by 91.31 per cent in one year. Specifically, data obtained from the Nigerian National Petroleum Corporation’s, December 2013 Petroleum Information, disclosed…

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March 27, 2014
NLNG to remit N220bn into Federation Account

THE management of the Nigeria LNG Limited, NLNG, said it will soon remit over N220billion from the 2013 company income tax to the Federation Account. The Managing Director and Chief Executive Officer of the company, Mr. Babs Omotowa, who disclosed this in Abuja, said the remittance would place the NLNG as the largest tax payer…

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March 4, 2014
NNPC’s crude oil transactions conform with int’l best practices— Sahara Energy boss

The Executive Director, Sahara Energy, Mr. Wale Ajibade said the Nigeria National Petroleum Corporation, NNPC, has conformed with international best practices in all dealings with their international and Nigerian-owned trading partners.   Mr. Ajibade, who made the declaration in his presentation to the House of Representatives Committee on Upstream currently investigating the alleged connivance of…

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March 4, 2014
Between illegal and modular refineries in Niger Delta

Ilegal oil refineries in Nigeria thrive on illegal oil bunkering, stolen crude oil, and vandalism of oil pipelines and other installations. Without a doubt, these illegal oil operations are reprehensible and should not be condoned for a number of reasons.   Firstly, it is improper for citizens of this country to destroy oil installations in…

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March 3, 2014
The Sanusi Drama

WHEN Mallam Lamido Sanusi Lamido, the suspended Central Bank of Nigeria, CBN, Governor, decided to publicly query the financial dealings and modus operandi of the state oil company (NNPC), my knee-jerk reaction was that he was behaving inappropriately for a government official and must have a murky hidden agenda. I felt he should have addressed…

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January 30, 2014
NNPC promises increase in gas supply to power

ABUJA:  The Nigerian National Petroleum Company, NNPC, said that gas supply to power plants will improve over the next five weeks, following the massive repair works on ruptured gas pipeline in the Niger Delta region.   The Corporation also said that a total of N800 million had so far been spent on a number of…

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January 20, 2014
PENGASSAN: Non-passage of PIB threatens investments in oil, gas industry

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Thursday said that non-passage of the Petroleum Industry Bill (PIB) posed serious challenges to investments in the sector. Mr Sheyi Gambo, the National Public Relations Officer of PENGASSAN, said this in an interview with the News Agency of Nigeria (NAN) in Lagos. Gambo…

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January 16, 2014
Standard & Poor: Nigeria overstates crude production in 2014 budget

Global rating agency, Standard & Poor’s, S&P, yesterday, raised concerns that Nigeria’s crude oil production forecast of 2.39 million barrels a day in the 2014 budget, was over-estimated. This, according to the rating agency, was due to increased tension in the Niger Delta region and the forthcoming 2015 general elections. Ravi Bhatia, an analyst at…

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September 10, 2013
FG says gas flaring reduced by 20%

The Federal Government has disclosed that gas flaring has been reduced in the country to about 20 per cent over the last two years. The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, who disclosed this last week at the plenary session of the 19th Nigerian Economic Summit in Abuja. She said that a further reduction…

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