Movement for the Survival of the Ogoni People (MOSOP) is seeking very harsh penalties on oil companies whose facilities pollute the environment in Niger Delta.

The group also said penalties would deter oil companies, especially Shell Petroleum Development Company (SPDC), which is allegedly responsible for devastating oil spills in Ogoni.

The President, Fegalo Nsuke, stated this during a visit to the site of last Thursday’s oil spills from SPDC pipelines in the K-Dere community of Gokana Local Council of Rivers State.… Read the rest

Amid scarcity of cooking gas in Nigeria, the Federal Government, yesterday, hinted of a new tariff that would encourage availability.

Currently, there are indications that multi-billion dollar gas-related projects being planned are struggling with stocks.

The Nigeria LNG Limited, earlier this month, disclosed that its productivity was down by almost 50 oil production.

A report released earlier this month by Nigerian Extractive Industries Transparency Initiative (NEITI) noted that only about 23 percent of the deep-water asset was productive in 2021, even as International Oil Companies (IOCs) are looking forward to a more favourable fiscal outlook to boost their operations in deepwater.… Read the rest

Senate has mandated its Committees on Petroleum (Upstream), Downstream, and Gas to investigate the implementation of the Petroleum Industry Act (PIA) with regard to the potential exit of international oil companies (IOCs) from Nigeria.

Section 257 (2) of the Act, which came into effect in August 2021, stipulates that oil and gas companies are expected to remit three percent of their yearly operational expenditure to affected host communities.… Read the rest