OIL & GAS
We are exploring options to commercialise gas flare sites – NNPC
The Nigerian National Petroleum Corporation says it is exploring options for commercialising existing gas flare sites in the country.
Major Oil Marketers to Support FG’s Petroleum Policy
The Major Oil Marketers Association of Nigeria (MOMAN) has offered to collaborate with government toward actualising the petroleum industry policy including deregulation which remains the only way in achieving a robust and sustainable downstream petroleum industry.
Crude Oil Price Rises to $69
Oil price rose to fresh highs for the year yesterday after a U.S. official said Washington is considering more sanctions on Iran and a key Venezuelan export terminal halted operations.
Shell pays $6.4bn as production entitlement, tax to govt, NNPC, others
Shell Petroleum Development Company of Nigeria Limited (SPDC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo), have paid Nigerian National Petroleum Corporation, NNPC, Federal Inland Revenue Service, FIRS, Department of Petroleum Resources and others $6.397 billion as production entitlement and tax in 2018.
Nigeria raked in N2.30trn in taxes, royalties from Shell in 2018
Royal Dutch Shell paid the Nigerian government the sum of $6.30 billion (N2.30 trillion) in taxes, royalties, fees and bonuses last year, the company said in published disclosures made to governments around the world where it has production. According to the document sent to Business Day, prepared in accordance with The Reports on Payments to Governments…
ExxonMobil considers sale of Nigerian oil, gas fields for $3bn
Nearly two and a half years after exiting Nigeria’s downstream oil sector, ExxonMobil is weighing the sale of some oil and gas fields in the country.
No plan to sell fuel above N145 per litre –IPMAN chairman
The Independent Petroleum Marketers Association of Nigeria (IPMAN), in Kano State, Tuesday said the association has no plan to sell petrol above government’s approved price of N145 per litre.
NLNG/NIMASA legal tussle: Dakuku hails appeal court judgment
Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, yesterday, hailed the appeal court judgment setting aside a $57 million judgment granted the Nigeria LNG Limited (NLNG) against the agency by a Federal High Court.
Oando posts N29bn PAT
Oando Plc has posted a N28.8 billion profit-after-tax (PAT); a 46 per cent increase from the N19.8 billion recorded at full year end 2017.
OPL 310: ‘Lekoil needs minister’s consent’
Federal High Court sitting in Lagos, and presided by Justice Sule Hassan, has ruled that Lekoil’s acquisition of an interest in OPL 310 still requires consent from the Minister of Petroleum Resources.
Dangote refinery leads Africa’s $30bn downstream investment push
Dangote’s 650,000 barrels per day refining project in Nigeria, which is expected to start up in late 2022 is leading the charge for $30 billion investment push in Africa’s logistics, distribution, storage terminals, import facilities and retail marketing of the downstream sector. Other projects can be found in Egypt, Algeria, Côte d’Ivoire, South Africa, Morocco,…
NLC intervenes to end doctors’ strike in Nasarawa
The Nasarawa State chapter of the Nigeria Labour Congress has intervened in the ongoing warning strike by the state chapter of the Nigeria Medical Association with a view to ending it.