Nigeria inched closer to actualising her oil production output target of 1.8 million barrels per day with about 177, 000 bpd increase in production recorded in January.
The Chairman, Senate Committee on Local Content Senator Natasha Akpoti-Uduaghan, has emphasised the need to deepen the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD Act.
Natasha Akpoti-Uduaghan, who said this at an interactive session with the leadership of the Nigerian Content Development and Monitoring Board (NCDMB) at the Senate Building at Abuja, said the development was necessary in order to create employment opportunities from the activities in the oil industry and catalyse other sectors of the economy.… Read the rest
The Port Harcourt Refining Company Limited, PHRC, has received a supply of 475,000 barrels of crude oil from the Shell Petroleum Development Company of Nigeria Limited through its Bonny Oil & Gas Terminal, BOGT.
Dr Osagie Okunbor, the Country Chair of Shell Companies in Nigeria and Managing Director of Shell Petroleum Development Company of Nigeria Limited (SPDC), disclosed this in a statement on Monday.… Read the rest
In what is a far-reaching and the first major judicial decision on the Petroleum Industry Act 2021 (“PIA”), the Nigerian Federal High Court has affirmed the power of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA or Authority) to impose and collect levies on petroleum products sold in Nigeria.
In an action filed by IHS Nigeria Limited and INT Towers Limited against the NMDPRA, the plaintiffs argued that they are not liable to pay statutory 0.5% levies for the ‘Authority Fund’ and the ‘Midstream and Downstream Gas Infrastructure Fund’ respectively on petroleum products they import.… Read the rest