The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have clarified concerns around the 2020 marginal fields’ awards.
The agencies explained that recent reports that quoted NEITI report to have insinuated that the NUPRC did not adhere to its own regulations while implementing the marginal fields’ award, were quoted out of context.
“We in NEITI, therefore, clarify that our report in reference was quoted out of context.… Read the rest
The patrol team of the Nigeria Navy Forward Operating Base (FOB) Igbokoda, Ondo State, Anti-Crude Oil Theft (COT) have arrested and destroyed 15,775 litres of Crude oil/ illegally refined Automotive Gas Oil from illegal bunkering and oil thieves worth about N13,251,000 in Ilaje Local government Area of the state.
The product measuring approximately 5,000 litres, was destroyed in accordance with the Joint Task Force Operation Delta Safe mandate on COT.
Oil Dealers have said the pump price of Premium Motor Spirit (PMS), popularly called petrol, may be reduced in filling stations operated by independent marketers this week, following the massive imports of PMS by the Nigerian National Petroleum Company Limited (NNPCL).
Operators in the downstream oil sector confirmed to newsmen, Weekend, that several cargoes imported by NNPCL had arrived in Nigeria, and some of them were currently discharging at the ports.… Read the rest
Oil-rich Egni community in Ogba/Egbema/Ndoni Council in Rivers State has decried its neglect by federal, and state governments and oil companies operating in the area.
A group of university professors and doctors from the area has, therefore, planned a summit to address the pains, lack of social amenities, and abandonment, among others.
The Chairman, of Egni Professors and Academic Doctors Forum (EPADOF), Prof.… Read the rest
The Maritime Workers Union of Nigeria (MWUN) has concluded arrangements to unveil the maiden edition of its in-house magazine, “The Maritime Labour Voice”.
A statement signed by the Head, of Media, MWUN, Comrade Kennedy John Ikemefuna, said the event is billed to be held at Rock View Hotel, Apapa, Lagos on Wednesday, November 15 by 11 am prompt.
According to the statement, notable maritime industry bigwigs and other critical stakeholders in the personalities of SIFAX boss, Dr Taiwo Afolabi and Dr (Mrs) Vicky Haastrup will lead the pack of other key stakeholders in the unveiling ceremony of the Magazine.… Read the rest
The Nigeria Extractive Industries Transparency Initiative (NEITI) said out of a total mineral revenue of N6.40 trillion, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) accounted for the highest contribution of N2.71 trillion in 2020-2021.
NEITI in its latest Fiscal Allocation and Statutory Disbursement (FASD) report which covered the period 2020-2021, said NUPRC, formerly known as the Department of Petroleum Resources (DPR’s) contribution represented 18.83 percent of the total remittances.… Read the rest
The Nigerian government on Thursday said it has signed a Memorandum of Understanding (MoU) with the government of the Kingdom of Saudi Arabia for collaboration in the oil and gas sector.
Nneamaka Okafor, the special adviser on media and communication to the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri in a statement on Thursday said the MoU is a testament to a shared commitment to fostering cooperation, with the aims of establishing a robust framework for collaboration between the two nations in the oil and gas sector.… Read the rest
The Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has appointed Mr. Charles Nwachukwu as the Coordinator of the Midstream and Downstream Petroleum Alternative Dispute Resolution Centre (MDPADRC).
The MDPADRC was established pursuant to the Petroleum Industry Act 2021 and the Midstream and Downstream Petroleum Alternative Dispute Resolution Regulations 2023 as a platform for the timely and cost-efficient resolution of disputes in the midstream and downstream petroleum industry.… Read the rest
The Nigerian Maritime Administration and Safety Agency (NIMASA), under the supervision of the Marine and Blue Economy Ministry, is to establish Blue Economy information desks at all International Airports in the country.
The effort received a boost after a fruitful discussion between the Minister of Aviation, Mr Festus Keyamo, and the DG/CEO NIMASA Dr Bashir Jamoh.
The Blue Economy desk at the Ports will enhance inter-ministerial collaboration to harness potentials in the Nigerian Maritime sector by creating awareness of a functional intermodal transport system, and tourism amongst others which are key components of a growing maritime nation.… Read the rest
The Nigerian National Petroleum Company (NNPC) Limited said Nigeria’s crude oil grades have become the most preferred choice for refiners in Europe.
The Executive Director, Crude Oil and Condensate, NNPC Trading Limited, Maryamu Idris, said this at a panel presentation at the Argus European crude conference in London, United Kingdom.
She noted that the nation’s crude flow to Europe increased after the ban on Russian crude caused a supply gap, adding that six months before the war, 678,000 bpd of Nigerian crude grades went to Europe, compared to 710,000 bpd six months later and 730,000 bpd so far this year.… Read the rest