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 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
A nine per cent hike in the price of Liquefied Petroleum Gas (LPG) (cooking gas) has added to the frustrations of Nigerians and thrown many into the energy poverty net.
Checks by Daily Sun in Abuja at the weekend showed that cooking gas prices shot up from N680 per kilogram to N745/N746 per kilogram. LPG dealers who spoke to Daily Sunnoted that there was an upward review of prices effective September I in reaction to global hike in prices and other volatilities.… Read the rest
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has threatened to revoke the licences of oil operators or settlors who failed to remit the three per cent statutory fees to oil communities before September ending.
The NUPRC management on Friday said its attention had been drawn to the agitation by host communities in the oil and gas producing areas of the Niger Delta region over the delay by industry settlors/operators in remitting the statutory fees.… Read the rest
Joseph Obele, the Chairman, Independent Petroleum Marketers Association of Nigeria, Rivers State Chapter has said the price of Premium Motor Spirit, known as petrol, would drop to N200/per litre if the country’s refineries are fixed.
Obele disclosed this on Friday in a statement while reacting to the soaring price of fuel after subsidy removal in June.
President Bola Ahmed Tinubu’s administration had pledged to get the Port Harcourt refinery to begin production by December 2023.… Read the rest
There were indications on Thursday, that the total oil output by the Organisation of Petroleum Exporting Countries (OPEC) rose in August, as Nigeria boosted its total production on the back of the return of Forcados, while Iranian supply rose to its highest since 2018.
A survey found that despite ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance to support the market, Nigeria emerged second in the list of countries that increased output.… Read the rest