Movement for the Survival of the Ogoni People (MOSOP) is seeking very harsh penalties on oil companies whose facilities pollute the environment in Niger Delta.

The group also said penalties would deter oil companies, especially Shell Petroleum Development Company (SPDC), which is allegedly responsible for devastating oil spills in Ogoni.

The President, Fegalo Nsuke, stated this during a visit to the site of last Thursday’s oil spills from SPDC pipelines in the K-Dere community of Gokana Local Council of Rivers State.… Read the rest

Amid scarcity of cooking gas in Nigeria, the Federal Government, yesterday, hinted of a new tariff that would encourage availability.

Currently, there are indications that multi-billion dollar gas-related projects being planned are struggling with stocks.

The Nigeria LNG Limited, earlier this month, disclosed that its productivity was down by almost 50 oil production.

A report released earlier this month by Nigerian Extractive Industries Transparency Initiative (NEITI) noted that only about 23 percent of the deep-water asset was productive in 2021, even as International Oil Companies (IOCs) are looking forward to a more favourable fiscal outlook to boost their operations in deepwater.… Read the rest

Senate has mandated its Committees on Petroleum (Upstream), Downstream, and Gas to investigate the implementation of the Petroleum Industry Act (PIA) with regard to the potential exit of international oil companies (IOCs) from Nigeria.

Section 257 (2) of the Act, which came into effect in August 2021, stipulates that oil and gas companies are expected to remit three percent of their yearly operational expenditure to affected host communities.… Read the rest

The report was laid before the House by the chairman of the House Committee on Petroleum Resources (Downstream), Ikeagwuonu Ugochinyere.

This followed the adoption of a motion jointly sponsored by Ugochinyere and the Chairman, the Committee on Petroleum Resources (upstream), Alhassan Ado-Doguwa.

After receiving the report, the House mandated its committees on Petroleum Resources (upstream and downstream) to investigate alleged misappropriation of oil revenue, shoddy contracts, and extra-budgetary expenditure by the relevant ministries, departments, and agencies (MDAs) of the Federal Government.… Read the rest

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Simbi Kesiye Wabote has advised that making unending changes to the structures set up by Petroleum Industry Act 2021 could kill the confidence of investors and stall new projects in the oil and gas sector.

Speaking on Tuesday at a panel session at the recently concluded Nigerian Economic Summit held in Abuja, the Executive Secretary explained that the PIA 2021 contains adequate provisions to ignite growth in the energy sector and advised the Federal Government and key stakeholders to avoid the temptation of tweaking the law at every turn.… Read the rest

Terminal owners increased prices of Liquefied Natural Gas or cooking gas by 60 per cent in the month of October alone, The PUNCH can authoritatively report.

Market survey carried out revealed that as of the beginning of the month, the price of 20 metric tons of cooking gas at the terminal was N10 million.

However, as of October 20, price had risen to N14 million per 20 metric tons.… Read the rest

The Hon. Justice Inyang Ekwo of the Federal High Court sitting in Abuja has dismissed a lawsuit brought by Mobil Producing Nigeria Unlimited (Mobil) against the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

Mobil had approached the court to challenge the competence of NMDPRA to regulate certain aspects of its operations like butane lifting which it maintained were integrated to its Oil Mining Leases (OMLs) and thus within the exclusive regulatory purview of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).… Read the rest

The Federal Government, yesterday, said implementation of the Petroleum Industry Act (PIA) 2021 was yielding positive results in the area of addressing the infrastructure decay that had long plagued the gas sector.

Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, revealed this at the Second Domestic Gas and Gas Infrastructure Summit, with the theme, “Building a Sustainable, Resilient Gas and Renewable Energy Sector in Nigeria and Beyond,” organized by the Abuja Chamber of Commerce and Industry (ACCI) in the Federal Capital Territory (FCT).… Read the rest

The Senate has tasked its ad- hoc committee to investigate all contracts awarded for rehabilitation of all state owned refineries from 2010 to 2023.

This followed the adoption of a motion on “Urgent need to investigate various turnaround maintenance projects of Nigerian refineries, to uncover waste and forestall further waste of scarce public resources, by Sen. Karimi Sunday ( APC- Kogi) at plenary on Tuesday.… Read the rest