THE oil and gas industry was, weekend, thrown into controversy over the sale of Eni’s subsidiary, Nigerian Agip Oil Company Limited, NAOC, oil assets – Oil Mining Lease, OMLs 60, 61, 62, and 63 – to Oando Oil Limited, OOL.
The controversy is based on the fact that ExxonMobil was previously stopped from selling its entire share capital of Mobil Producing Nigeria Unlimited, MPNU, to Seplat Energy Plc.… Read the rest
Sahara Energy International Singapore, a Sahara Group Company, has called for more collaboration on gas development to accelerate the nation’s march towards energy transition, as well as the entire continent of Africa.
The call was made during the collaboration hosted by Sahara Energy with Nigeria’s Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, Permanent Secretary of the ministry, Amb. Gabriel Aduda, Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, and Executive Director, Finance, NMDPRA, Abiodun Adeniji.… Read the rest
NIGERIA’s oil production rose by 8.4 percent in the month of August to 1.41 million barrels per day compared to 1.30 million barrels per day recorded in July.
The House of Representatives ad hoc committee investigating crude oil theft has insisted on the appearance of the Group Chief Executive Officer of Nigeria National Petroleum Company Ltd (NNPC) and others before the committee.
They include the Nigeria Maritime Administration and Safety Agency (NIMASA) and the Nigeria Inland Waterways Authority (NIWA).
Rep Alhassan Rurum, the Chairman of the probe panel, gave the ruling in Abuja, adding that the heads of the agencies must appear in person and not send representatives.… Read the rest
Spaces for Change (S4C) will host the second edition of the National Extractives Dialogue (NED) on September 14 and 15, 2023, in Owerri, Imo State.
NED2023 will set the stage for an inclusive and transformative discussion on the responsible management of oil, gas, and mineral resources in the West African sub-region.
Organised in collaboration with the Nigerian Extractive Industries Transparency Initiative (NEITI), this edition will bring together over 200 stakeholders from diverse backgrounds, including policymakers, regulators, extractive industry players, academia, media, civil society organisations, and the host communities.… Read the rest
In a bid to further enhance a reliable database for seafarers in Nigeria, the Nigerian Maritime Administration and Safety Agency, NINASA, has commenced the electronic registration of sailors.
In a statement signed by the Head of the Public Relations department of the agency, Mr. Osage Edward, Director General of the NIMASA, Dr. Bashir Jamoh, said that one of the cardinal principles of the Cabotage regime is the localization of manning of vessels operating in Nigerian waters.… Read the rest
The Federal Government says it will support and deepen the implementation of the Extractive Industries Transparency Initiative (EITI) in the management of Nigeria’s oil, gas, and solid mineral resources.
Sen. George Akume, Secretary to the Government of the Federation, gave the assurance on Monday in Abuja while unveiling the Nigeria Extractive Industries Transparency Initiative (NEITI) 2021 Solid Minerals Industry Report.
The report, with its theme “Impact built on blocking leakages to grow revenue” is the 12th in a cycle and aimed at producing a solid minerals industry report for 2021 in accordance with the EITI standard.… Read the rest
There are indications that the Federal Government may have returned subsidy payment on Premium Motor Spirit (PMS), using the supposed commercialised Nigerian National Petroleum Company Limited to manage the market shocks and maintain monopoly of the downstream segment of the nation’s oil and gas industry.
According to The Guardian analysis, about N318 billion (N10.6 billion) monthly losses are now recorded on petrol and may be calculated as under-recovery by the supposed NNPC Limited.… Read the rest
The Maritime Workers Union of Nigeria (MWUN) has shut down all the nation’s seaports in compliance with the two-day warning strike declared by the Nigeria Labour Congress (NLC).
The NLC, on Tuesday, commenced a two-day Sit-At-Home warning strike in protest against the Federal Government’s failure to address the challenges caused by the removal of fuel subsidies.
It accused the Federal Government of insincerity, lack of commitment to negotiations and failure to implement some of the resolutions from previous meetings with the government.… Read the rest
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari, has given reasons why the company didn’t go bankrupt in the face of growing financial obligations occasioned by rising fuel subsidy.
Kyari dropped the hint during a media briefing addressed by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun in Abuja at the weekend.… Read the rest