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FEDERAL GOVERNMENT PROMISE DEVELOPMENT OF DOWNSTREAM SECTOR

SALAU OLAMIDE   President Muhammadu Buhari said the country would focus on developing the downstream sector of the nation’s petroleum industry with the aim of pushing refined petroleum products to markets across countries in Africa.   The President, address the recurring cases of corruption, accountability and transparency in the sector.The President said: “Nigeria is open […]

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NIGERIA BECOMES THE WORLD LARGEST PETROL IMPORTER

ODEJIMI TEMITAYO OMOLARA The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, said in Abuja, that Nigeria is the only member country in the Organisation of Petroleum Exporting Countries (OPEC) that imports petrol and is currently the largest importer of the product in the world. Baru, who spoke through NNPC’s […]

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OVER $40 BN POTENTIAL INVESTMENTS EXPECTED OVER THE NEXT FIVE YEARS IN THE OIL SECTOR – KACHIKWU

BY: Odejobi Yusuf The Minister of state for petroleum resources Dr. Ibe Kachikwu, said that the launch of the 7Big wins two years ago has yielded and has change the funding capacity for the upstream and also energized investors in the upstream sector. He said this at the opening of  5-day Nigeria International Petroleum Summit […]

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SCARCITY: IKORODU BASED PETROL MARKETERS ARE HOARDING PRODUCT, RESIDENTS CRY OUT

By: Adesuyi Oluwasegun Gabriel. Some residents of Ikorodu division of Lagos state have accused some independent marketers and operators of filling stations within the community as the cause of the biting fuel scarcity situation in the division. Though, the current fuel scarcity started as a national issue some weeks ago, paralyzing business and commercial activities […]

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PETROLEUM INDUSTRY BILL (PIB): THE JOURNEY SO FAR

The Federal House of Representatives recently passed the Petroleum Industry Governance Bill (PIGB) which provides for the governance and institutional framework for the petroleum industry and for other related matters. The PIGB is one of four bills which the present administration had splited PIB into – Petroleum Industry Administration Bill (PIAB), Petroleum Industry Fiscal Bill […]