The Independent Petroleum Marketers Association of Nigeria (IPMAN) has stressed the need for the Nigerian National Petroleum Company Limited (NNPC) to explain to Nigerians how funds deployed for the drilling of oil at the Kolmani River between Bauchi and Gombe states were expended.
The Principal Consultant to IPMAN, Mr. Maurice Ibe made the call Wednesday night while featuring on the Prime Time, a programme on Arise News Channel.… Read the rest
The Petroleum Technology Association of Nigeria (PETAN) has raised the alarm that Nigeria has been losing about $15 billion daily to oil under production.
It explained that the country is underproducing to the tune of at least 500,000 barrels per day, which he said was equivalent to $15 billion and hundreds of trillions of naira in excess of the national budget per year.… Read the rest
The Nigerian Gas Association (NGA) has commended the Federal Government for the recent gazetting of three pivotal policy directives, heralding a monumental leap towards unlocking investments in the oil and gas sector.
These directives comprise multifaceted strategies, including introducing fiscal incentives for non-associated gas, midstream, and deepwater developments, streamlining the contracting process to compress the contracting cycle to six months, and applying local content requirements without hindering investments or cost competitiveness.… Read the rest