nigeria oil and gas sector news

The Nigerian Association of Petroleum Explorationists (NAPE) has warned that the reduction in hydrocarbon exploration and steady depletion of the oil reserves will drive Nigeria into risks of long-term disruption to oil and gas supplies, power generation, collapse of industries and significant...

A report by the Nigeria Extractive Industries Transparency Initiative (NEITI) and Trust Africa has disclosed how companies and persons doing business in Nigeria’s oil and gas sector contribute 92.9 per cent of the total amount of illicit financial flows (IFFs) the country records … Read more...

Nigeria has suffered a plunge of $17.12 million foreign investment in its oil industry in just three months. Checks by New Telegraph showed that investor apathy, which trailed the petroleum industry from August to September 2018, has been listed as the cause of the plunge … Read more via...

Industry research group, Wood Mackenzie (Woodmac) has said emerging signs of improved execution suggest companies are getting it right after a period of dismal performance on upstream oil and gas projects. A similar research conducted by Globaldata, had revealed … Read more via The Guardian...

An operator in the oil and gas sector, Newcross Exploration and Production Ltd, says it will give scholarship to secondary school students in 10 communities in Akuku-Toru and Degema Local Government Areas of Rivers State. Chief Alapuye Elekiye-Okpara, the company’s consultant for the...

Society of Petroleum Engineers (SPE) has said Nigeria’s oil and gas sector is fast losing its relevance, given the realities of today’s marketplace. According to the body, an economy like Nigeria that depends largely … Read more via The Guardian Nigeria Newspaper – Nigeria and World News –...

Some investors have expressed concerns over what they describe as the ‘high charges’ in Nigeria’s oil and gas free zones, noting that the development endangers government’s foreign direct investment (FDI) drive into the sector as … Read more via The Guardian Nigeria Newspaper – Nigeria and...

There are indications that the Free on Board (FOB) charges imposed by LADOL is brewing crisis in the oil and gas free zones.... Read more via Vanguard News – https://ift.tt/2KoiDsD Get more: Nigeria Business News

The Senate on Wednesday mandated its Committee on Petroleum Resources (Upstream) to investigate issues relating to ongoing lease renewals in the oil and gas sector of the economy. It is believed that the process is being undertaken by the Minister of State for Petroleum Resources, Dr Ibe …...

Stakeholders in Niger Delta have cautioned President Muhammadu Buhari against signing the Petroleum Industry Governance Bill (PIGB), alleging that it seeks to privatise the country’s oil and gas assets and to further impoverish the people of the region..... Read more via The Guardian Nigeria...

The Nigerian Gas Processing and Transportation Company (NGPTC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has declared a profit after tax worth N6.11 billion from its business of processing and transporting natural gas to its customers in 2017. The NGPTC said in a …...

Nollywood Actress, Mimi Orjiekwe while speaking with Sunday Scoop said she would have been a better person if she had worked in the oil and gas sector, rather than choosing acting as a career. She said: “I still have a lot to do as an actor and woman, though I am … via YabaLeftOnline –...

The Minister of State for Petroleum Resources, Ibe Kachikwu, said the oil and gas sector in Nigeria had witnessed positive transformation since the “Declaration of Cooperation” by OPEC and non-OPEC members. Mr Kachikwu said this in an interview with journalists on the sidelines of the …...