Oil & Gas

Speaker of the House of Representatives, Hon Yakubu Dogara, has assured stakeholders in the oil and gas sector that the National Assembly will ensure that deploy all available legislative tools to ensure that there is transparency, fairness, investment security and due process in all Joint Venture Agreements and other business …

The Nigerian Ports Authority (NPA) is expecting 36 ships to bring petroleum products, food items and other goods to Apapa and Tin-Can Island Ports in Lagos, from Dec. 6 to Dec. 29.

OPEC has made a planned cut in oil output effectively conditional on the contribution from non-OPEC producer Russia, delegates said on Thursday as the group gathered in Vienna for a meeting aimed at supporting battered oil prices.

The Buhari Media Organisation (BMO) has called on the Independent Petroleum Products Importers (IPPIs) to avoid blackmailing the present administration over a debt burden inherited from the previous regime.

By Gom Mirian, Abuja The Group Managing Director of Nigerian National Petroleum Corperation, Dr. Maikanti Baru, has assured Nigerians of the corporation’s preparedness to ensure zero-scarcity of petroleum products during the upcoming yuletide season and beyond.

A federal high court in Lagos, yesterday, adjourned until February 13, 2019, a $69 million  suit filed by the Federal Government of Nigeria, against Chevron Petroleum Nigeria Ltd, seeking to recover oil revenue.

A financial expert, Mr Tony Edeh has urged the federal government to resolve issues with oil marketers to ensure availability of fuel during the Yuletide.

Oil prices rose more than two per cent yesterday, extending gains ahead of expected output cuts by producer cartel, OPEC, and a mandated reduction in Canadian supply.

Oil marketers on yesterday in Lagos gave the federal government seven-day ultimatum to settle outstanding debts totalling N800 billion, failing which depots would cease operation across the country.

The Senate Committee on Local Content has intervened in a disputed contract sum of $670,000 between Chevron and Solewant a Nigerian firm involved in pipe coating for oil and gas companies.