Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has revealed that Nigeria lost $34 billion in the last two and a half years due to the fall in production from the assets being divested by ExxonMobil to Seplat Energy, a transaction still awaiting approval by the federal government.
Lokpobiri made the disclosure in Lagos, during his keynote speech at the Second Quarter Dinner of the Petroleum Club, with the theme, “Funding Our Way out of the Crisis: Looking up to the Oil and Gas Sector.”… Read the rest
IN a bid to reduce congestion and encourage timely movement of export cargoes into ports in Lagos, the management of the Nigerian Ports Authority, NPA, has opened a 72 hours access window to all export trucks within which to access various terminals.
The NPA also said that failure to access the ports within the time frame, export cargo trucks will have their truck access tickets deactivated automatically.… Read the rest
The Port Harcourt Refining Company Limited (PHRC) remains dormant despite assurances from authorities that it would commence operations approximately two weeks ago. Citizens, anticipating relief from the energy crisis, were disappointed by the delay in the refinery’s activation.
Stakeholders had hoped that the revitalization of the Port Harcourt refinery, along with others in Warri and Kaduna, would alleviate the country’s energy challenges and reduce the need for petroleum imports.… Read the rest