$62bn Controversy: Why Nigeria could not amend contracts with IOCs — NNPC COO
NNPC Upstream COO, Bello Rabiu, explains why it has been difficult for the government to renegotiate the PSC with the IOCs.
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Buhari Promises Reforms And New Policies In Oil And Gas Sector
The Nigerian President, Muhammadu Buhari, has promised that his administration will undertake appropriate reforms and implement fresh policies to boost national income from oil and gas production. Read more
National Assembly urged to review Petroleum Industry Bill
Some experts in the Nigerian oil and gas industry on Monday called on the leadership of the new National Assembly to review the Petroleum Industry Bill (PIB) passed by the 7th House of Representatives. Read more
Oil Glut: Crude Differential Hits 10-year Low
As the nagging oversupply of physical oil takes its toll, official prices for Nigerian crude have hit their lowest in at least a decade. The Nigerian National Petroleum Corp (NNPC) lowered the official selling price for its largest crude oil stream Read more
Court rejects Agip’s objection in gas plant case against Arco
A Federal High Court in Port Harcourt, Rivers State, has rejected an argument by oil firm, Agip, questioning the court’s powers to hear a gas plant maintenance contracts suit, brought by a local company, Arco. Read more
Bonga Oil Spill: Fishermen seek Buhari’s help
Some fishermen in the Niger Delta have urged president-elect Muhammadu Buhari to ensure the payment of recommended compensation to victims of Bonga oil spill when he assumes office. Read more
Shell sues EFCC over $1.2m debt collection
Shell Nigeria Gas Limited has asked a Federal High Court in Lagos to declare that the Economic and Financial Crimes Commission, EFCC, lacks constitutional empowerment to collect debt on behalf of anyone. Read more
Buhari’s Oil Policy To Focus First On Reform
President-elect Muhammadu Buhari plans to focus on ending corruption and reforming the Nigerian National Petroleum Corporation (NNPC) before looking into other reforms in the oil sector, it has emerged. Read more
How Merger, Acquisition Options Strengthen Nigerian Content in Oil, Gas Sector
BARELY five years after passing the Nigerian content bill into law, the indigenous oil and gas firms across the value chain may have exhibited strong commitment to the sector via several prevailing investment strategies. As many independent operators gather momentum to hold enviable stakes in the nation’s hydrocarbon wells, Read more
IOCs Seek Fresh Negotiations with FG on Funding for Oil and Gas Projects
In a bid to address the shortfall in funding arising from the drop in the price of crude oil, the joint venture partners of the Nigerian National Petroleum Corporation (NNPC) have called for fresh negotiations with the federal government on the implementation of projects in the sector. Read more