PIB: Deregulation Of Petrol Inevitable – OIL Marketers

Posted by - July 7, 2021

The Major Oil Marketers Association of Nigeria (MOMAN) says Nigeria is gradually heading toward full deregulation of the Premium Motor Spirit (PMS) with the passage of the Petroleum Industry Bill (PIB). Mr Adetunji Oyebanji, Chairman, MOMAN, made the assertion during a panel session at the ongoing Nigeria Oil and Gas (NOG) conference and exhibition on

PIB: Clark Warns, Says Niger Delta Communities ’ll Deny ICOs Access

Posted by - July 6, 2021

A former Minister of Information, Chief Edwin Clark, has warned that the people of the Niger Delta region will be forced to deny International Oil Companies (IOCs) access into oil bearing communities if the recent passed Petroleum Industry Bill is not amended or reviewed. He stated this position in an open letter he addressed to

Attacks On Oil, Gas Facilities Drop From 623 To 94 In 7 Years, Says Sylva

Posted by - July 6, 2021

Minister of State for Petroleum, Mr Timipreye Sylva, on Monday, declared that attacks on oil and gas facilities across the country had reduced significantly since 2014.https://scudnewsng.com The minister made the declaration at a Town Hall meeting on Protecting Oil and Gas Infrastructure in Abuja, on Monday. Sylva, who was represented by Mr Mele Kyari, Group

Oil Producing States Deserve More Than 3 Percent Allocation -IPMAN Chair

Posted by - July 2, 2021

Mr Joseph Obele, Chairman, Rivers State Chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN), has expressed his dissatisfaction over the three percent oil derivation take approved by the senate for oil producing communities. Obele, in a statement made available to newsmen on Thursday in Port Harcourt, said that the long-awaited Petroleum Industry Bill

OPEC Forecasts Oil Supply Deficit In August

Posted by - June 29, 2021

Organisation of Petroleum Exporting Countries,’ OPEC’s, forecasts point to an oil supply deficit in August and in the rest of 2021 as economies recover from the pandemic, suggesting the group and its allies have room to raise output at a meeting this week.https://scudnewsng.com The organisation is returning 2.1 million barrels per day (bpd), about 2%

Oil Spillage: Court Orders Mobil, NNPC To Pay N82B In Damages To Akwa Ibom Communities

Posted by - June 21, 2021

The Federal High Court, Abuja, has ordered the Mobil Producing Nigeria Unlimited and the Nigerian National Petroleum Corporation (NNPC) to pay the oil communities in Ibeno Local Government Area of Akwa Ibom a cumulative damage of 81.9 billion over oil spillage. Justice Taiwo Taiwo, in a judgment debt, ordered that the payment must be paid within 14 days,

Nigeria To Move Away From Dependence On Crude Oil —NEPC

Posted by - June 15, 2021

The Nigerian Export Promotion Council (NEPC) says Nigeria will soon move away from total dependence on crude oil to exporting non-oil resources and products. Mr Joe Itah, the Regional Coordinator of the Council, South-South, said this during a One-Day Round Table Stakeholders’ forum on Cassava and Palm Producers in the Non-Oil Exports Sub-Sector in Yenagoa