The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, has disclosed that the country’s oil rigs have increased to 30 from 11 in 2011.
He linked the increase to NUPRC and other government stakeholders’ efforts to attract confidence and certainty into the oil and gas industry.
According to Komolafe, Nigeria recorded capital expenditure worth billions of dollars within the last two and a half years due to the implementation of the Petroleum Industry Act.… Read the rest
Maritime workers have issued a warning of a potential nationwide strike if the Federal Government proceeds with its plan to automatically deduct 50% from the revenue earned by the Nigerian Ports Authority (NPA).
This caution was conveyed in a joint statement by the Senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASCGOC) and the Maritime Workers Union of Nigeria (MWUN) in Lagos. … Read the rest
The management of Lekki Port and Lekki Freeport Terminal have assured maritime stakeholders that they will enjoy the use of sea terminal and its state-of-the-art facilities.
This assurance was made during the 2024 Roadshow organised by Lekki Port and Lekki Freeport Terminal in conjunction with the Nigeria Customs Service in Lagos, recently.
The Chief Operating Officer of Lekki Port, Laurence Smith, said that the roadshow was an opportunity to intimate potential port users on the ease of doing business in Lekki Port.… Read the rest
The Nigerian Oil and Gas Suppliers Association (NOGASA) warned on Tuesday that its members may be forced to withdraw their services following the unbearable high operating costs.
This is coming barely 24 hours after the Nigerian Association of Road Transport Owners (NARTO) commenced a strike action on similar issues.
NOGASA National President Bennett Korie, who made the call at a briefing in Abuja, particularly identified the unstable dollar rate as a major challenge for marketers.… Read the rest
Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, has disclosed at the weekend that Nigeria was gradually reversing the investment decline in the oil and gas upstream sector.
Speaking in Lagos after receiving The Sun Public Service Award 2023, during the newspaper’s 21st Anniversary Award Dinner, Komolafe said the country recorded capital expenditure (Capex) worth billions of dollars within the last two and a half years on the back of the implementation of the Petroleum Industry Act (PIA).… Read the rest
Many filling stations are currently closed in the Federal Capital Territory, leading to long queues by motorists at the few outlets that are dispensing Premium Motor Spirit, popularly called petrol.
Operators in the downstream oil sector confirmed that the development was due to the suspension of operations by the Nigerian Association of Road Transport Owners, in fulfilment of their threat to down tools beginning today Monday.… Read the rest
In keeping with Nigeria’s leadership role in the development of Local Content in Africa, the Nigerian Content Development and Monitoring Board (NCDMB) has concluded a two-day Local Content development experience-sharing session with a delegation from Mozambique’s national oil company, Empresa Nacional de Hidrocarbonetos (ENH).
The engagement was held on the sidelines of the 8th Sub-Saharan Africa International Petroleum Exhibition & Conference, in Lagos.… Read the rest
The House of Representatives’ Special Committee on Crude Oil Theft has collaborated with the Nigeria Navy to initiate for effective policing of pipelines and other critical assets in the oil and gas industry with the overall goal to tackle the menace of crude oil theft and pipeline vandalism.
This was as the committee met with the Chief of Naval Staff to strategize on collaborative measures in Abuja.… Read the rest
The recent award recognition and honour of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) as the Regulator of the Year at the just concluded Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC 2024) is a great testament of the commission’s unwavering commitment to upholding regulatory standards within Nigeria’s oil and gas sector.
This recognition is in no small measure underscores the NUPRC’s firm commitment to ensuring compliance with regulations within Nigeria’s vital Oil and Gas industry and prodigious thanks to the man who is leading this great task, Engr.… Read the rest
The federal government says the country currently has about $30 billion in investment commitments from various investors.
Doris Uzoka-Anite, minister of industry, trade and investment, disclosed this at the ministerial media briefing in Abuja organised by the ministry of information and national orientation on Friday.
According to Uzoka-Anite, the commitments will be redeemed within five to eight years.
She said investments, commitments, and pledges were also received from oil and gas free zones.… Read the rest