Nigeria still depends on IOCs to ascertain oil export – NNRC

The Federal Government still depends on International Oil Companies, IOCs, to know the exact volume of oil and gas exported to the global market. Chairman, Experts Advisory Panel, Nigeria Natural Resource Charter, NNRC, Mr. Odein Ajumogobia, who made this known at a workshop to consider outstanding remediation issues on Nigerian Extractive Industries Transparency Initiative, NEITI,

Continue Reading →

Nigerian Oil Terminal Delays Add To Supply Concerns

Following disruptions of the oil flows on the pipeline feeding the Forcados terminal in Nigeria, the facility faces more than two weeks of delays of oil cargo loadings, and no official June or July loading schedules have been released yet, trading sources told Platts on Tuesday.  The flow of crude oil to the Forcados terminal is

Continue Reading →

NIGERIA: NNPC plans strategies to stay in business

The Nigerian National Petroleum Corporation (NNPC) has said that it is working on the right strategies to remain in business for a long time. The Group Managing Director of the corporation, Maikanti Baru, who spoke at the NNPC first quarter 2018 top management steering committee meeting in Abuja at the weekend, said in order to operate as

Continue Reading →

NIGERIA: NNPC to begin retail of petrol across West Africa

The Nigerian National Petroleum Corporation (NNPC) would begin retailing of petroleum products across markets in the Economic Community of West African States (ECOWAS) in the next two years. NNPC Group Managing Director, Maikanti Baru, who rebranded key downstream subsidiaries of the group yesterday, in Abuja, said the company would own 30 per cent market share

Continue Reading →

NIGERIA: Oil workers reject service agreement in PIB

Oil workers under the auspices of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have rejected the Service Level Agreement (SLA) in Petroleum Industry Bill (PIB). They described the agreement reached between the Nigerian Content Development and Monitoring Board (NCDMB) and

Continue Reading →

NIGERIA: Marketers urge government to remove VAT on cooking gas

The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has urged the Federal Government to remove Value Added Tax (VAT) on locally produced Liquefied Petroleum Gas (LPG) also called cooking gas. Its President, Nosa Ogieva-Okunbor, told reporters in Lagos that VAT payment on locally processed LPG makes it expensive and unattractive to imported LPG, which

Continue Reading →

Poverty, pirates, protest: Locals seize Nigeria oil hub

Despite the enormous natural riches that pass them by, locals say they have not shared in the explosion of wealth that black gold has brought to Nigeria. ENVIRONMENT The people of Belema village can only be reached after a three-hour journey aboard a rickety makeshift speedboat from the nearest major town. For 37 years their

Continue Reading →