While Seplat Energy Plc, a major energy company in Nigeria, has agreed to buy the shallow-water assets of ExxonMobil in the country, the crucial green light from the Nigerian National Petroleum Company Limited (NNPC) could come at a heavy cost. Mele Kyari, the group managing director of NNPC, has said …
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Almost a month after the scarcity of premium motor spirit threw the country into an energy crisis, indications emerged, yesterday, that the situation may go from bad to worse, as prices at the pump rose to over N300 per litre in some filling stations across the country, especially those owned …
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Chief Executive Officer of Nigerian National Petroleum Corporation, NNPC Limited, Mr. Mele Kyari said that the lingering fuel crisis and its attendant queues at the filling stations will ultimately disappear next week. Kyari said that there was already a receipt of 2.1 billion liters which would be distributed to normalize …
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Nigeria’s Minister of Finance, Budget and National Planning, Zainab Ahmed has restated the constitutional role of the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), on the monitoring of accruals and disbursements of revenue from the Federation Account, pointing that the powers of the commission as constitutionally stated do not relate …
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If the story of Nigerian local content will be told, the impacts of the Nestoil Group will be a recurring theme of any such discussion. This is because, since its entrance into the oil and gas sector in 1991, 19 years before the enactment of the Nigerian Oil and Gas …
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The Head of Gas Ventures at Neconde Energy Limited, Engr Chichi Emenike has called on all stakeholders in the Oil and Gas sector in Nigeria to embrace a willing-buyer-willing-seller approach in the production and sale of gas across the entire value chain. Mrs. Emenike says this approach will attract the …
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AOS Orwell has indicated its readiness to participate actively in the Nigeria LNG Train7 and Bonga South West Aparo Projects, two of the major oil and gas projects expected to commence soon in the country. The Managing Director, Femi Omotayo, at a discussion with journalists in Lagos, said AOS Orwell …
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Federal Government-owned refineries, located in Port Harcourt, Kaduna and Warri, lost over N231bn in the last four years as the proposed rehabilitation of the plants suffered a setback. The Port Harcourt Refining Company has two refineries, while the Warri Refining and Petrochemical Company and the Kaduna Refining and Petrochemical Company …
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The Special Presidential Investigation Panel for the Recovery of Public Property says the Nigerian Petroleum Development Company Ltd and one of its Joint Venture partners, Seplat Petroleum Development Company Plc, have short-changed the Federal Government by $1.8bn and N8.8bn from 2013 to 2017. Responding to The PUNCH’s inquiry on Sunday, the …
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Oil prices rose on Thursday lifted by a sustained decline in inventories and Saudi Arabia’s preparedness to cut crude supplies to its prized Asian customers. Brent crude futures were 52.99 dollars a barrel by 0855 GMT, while US West Texas Intermediate crude was up 17 cents at 49.73 dollars. Crude …
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