The Nigerian Shipping and Port Economic Regulatory Agency Bill 2023 has passed second reading at the House of Representatives. The Bill seeks to repeal the Nigerian Shippers’ Council Act Cap N133 Laws of the Federation of Nigeria (LFN), and enact the Nigerian Shipping and Port Economic Regulatory Agency Act.
Presenting the Bill at the House of Representatives, the Chairman, House Committee on Shipping Services, Abdussamad Dasuki, said that the government made the Nigerian Shippers’ Council the Port Economic Regulator in 2015.… Read the rest
Nigeria could face a harsher economic climate as members of the Nigerian Association of Road Transport Owners (NARTO) on Thursday threatened to suspend operations on Monday due to rising operational costs.
National President of the organisation, Alhaji Yusuf Othman, in a press statement in Abuja, noted that if no deal is reached before then, members will park their trucks as from that day.… Read the rest
The Nigerian National Petroleum Company Limited/TotalEnergies joint venture has achieved zero routine gas flare in all its assets, NNPCL announced on Thursday.
It said the achievement was in pursuit of meeting the targets of 20 per cent (unconditional) and 47 per cent (conditional) greenhouse gas emission reduction as contained in the Nationally Determined Contribution under the Paris Accord signed by the President Bola Tinubu administration
This feat was announced on Thursday during an inspection tour of OML 100 in South-eastern Niger Delta, off Port Harcourt, by a joint NNPC Ltd and TotalEnergies team to ascertain the success of the OML flare reduction project launched in December 2023,” NNPCL stated in a statement issued in Abuja by its spokesperson, Olufemi Soneye.… Read the rest
This was seen in a memorandum issued by the commission, titled ‘Movement To Lagos,’ signed by Dr Kelechi Onyeakachi Ofoegbu, Executive Commissioner, Corporate Services & Administration, dated February 14, 2024 and obtained by SaharaReporters on Thursday morning.
The Nigerian Upstream Petroleum Regulatory Commission has revealed that it is considering relocating some of its units from the Federal Capital Territory, Abuja to Lagos State.
The Nigerian Maritime and Safety Administration (NIMASA) has initiated the preparatory phase for deploying the modular floating dock at Apapa Continental Shipyard.
Bashir Jamoh, the director-general, made this announcement in a statement released on Wednesday, February 14, in Lagos.
He said that the installation preparations are underway for the heavy 50-ton cylindrical spuds, which will serve as anchors for the dock.… Read the rest
The Minister of Marine and Blue Economy, Adegboyega Oyetola, on Tuesday, formally received the report for the implementation of the Port Community System (PCS) in Nigeria, a move that will enhance the ease of doing business in ports within the country.
The PCS initiative aligns with the Convention on Facilitation of International Maritime Traffic (FAL) of the International Maritime Organization (IMO), and its objectives include preventing unnecessary delays in maritime traffic, enhancing cooperation between governments and ensuring uniformity in formalities and procedures.… Read the rest
In a pre-emptive move to remove any potential misinterpretation, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has explained that the upcoming ‘closed’ bid round for the sale of oil and gas blocks this year was legal and in line with the provisions of the Petroleum Industry Act (PIA) 2021.
The commission also stated that Nigeria’s national technical oil production potential currently stood at 2.26 million barrels per day (bpd) well above the 1.5 million bpd production quota allocated to the country by the Organisation of Petroleum Exporting Countries (OPEC).… Read the rest
The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has said that it has adopted measures that would tackle challenges facing the oil and gas sector and boost production in the country.
Nigeria’s oil production increased to 1,426,574 barrels per day in January 2024.
The country’s drilling performance was published in the latest crude oil and condensate production data of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The figure represents the highest production level since March 2021 when output was 1,428,613 bpd.
According to the NUPRC data, output rose by 91,476 bpd in Januay 2024 — a 6.85 percent increase compared to the production figure of 1,335,098 bpd in December 2023.… Read the rest