The Senate has said the current massive oil theft in the country, if not immediately curbed could frustrate the implementation of the Petroleum Industry Act (PIA) passed in to law last year by the National Assembly. The Chairman, Senate adhoc committee to investigate oil lifting, theft and the impact on petroleum
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Russia has completely halted gas supplies to Europe via a major pipeline, saying repairs are needed. The Russian state-owned energy giant, Gazprom, said the restrictions on the Nord Stream 1 pipeline would last for the next three days. Russia has already significantly reduced gas exports via the pipeline. It denies accusations it has
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Nigeria LNG Limited (NLNG) has stated that it is committed to ensuring Nigerians benefit maximally from all its operations by going beyond mere compliance with Nigerian Content targets as set out in the Nigerian Oil and Gas Industry Content Development Act (NOGICD) 2010. NLNG’s Managing Director/Chief Executive Officer, Dr. Philip Mshelbila,
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Nigeria’s quest to become a productive nation exporting local innovation across the world received a big push weekend when a joint venture between the Nigerian Petroleum Company Limited, NNPC, FIRST Exploration and Petroleum Company and Dorman Long Engineering Nigerian Naval Dockyard, produced an oil drilling platform capable of adding 20,000
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The National Oil Spill Detection and Response Agency (NOSDRA) on Wednesday said a total of 1,086 oil spills were recorded in Bayelsa from 2015 to February 2022. Mr Idris Musa, Director-General, NOSDRA, made this known when delegations from Connected Development (CODE) and OXFAM paid an advocacy visit to his office in
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The Nigeria LNG Limited, NLNG, a major player in the global LNG business, said its operations were governed by regulatory requirements, targeted at delivering LNG to various destinations globally. As a responsible organization, the company noted that it has strong business principles and ethics to govern its activities in line with
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Nigeria’s oil production remained stable in the last three months, albeit low, going by its rig count and production volume, as reported by the latest data from the Organisation of the Petroleum Exporting Countries (OPEC) yesterday. Besides, the cartel has reduced its global demand growth forecast for this year to 3.1mn
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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has rejected President Muhammadu Buhari’s assent to the acquisition of ExxonMobil’s assets by Seplat Energy. A statement from the presidency on Monday noted that the Minister of Petroleum, President Buhari had granted assent to the deal in which Seplat will acquire a 40 per cent
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After the decision of the Organisation of Petroleum Exporting Countries, OPEC, and its allies, to stabilize crude oil prices, report of the United States Energy Information Administration, USEIA forced a sharp drop in the prices across all grades including Nigeria’s Bonny Light. The global average price had trended above $100 per
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Shell Petroleum Development Company, SPDC, has blamed Nigeria’s economic woes, including the free fall of the Naira value and high cost of living on unabated oil theft and assets vandalism. Country Head, Corporate Relations, SPDC, Igo Weli, in interaction with the media in Port Harcourt, Rivers State, said with heavy reliance
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