FG Insists PIB'll Resolve Oil Sector’s 70-Year Underdevelopment       The federal government has said that when passed, the Petroleum Industry Bill (PIB) will resolve most of the knotty issues that have hindered the development of the oil and gas sector in the country since the 50s. Speaking...

Marginal Oilfields: FG Receives 50% Of Signature Bonuses       The Federal Government said on Tuesday that it had received signature bonuses from 50 per cent of the winners of marginal oilfields following the conclusion of the bid process. The Minister of State for Petroleum Resources, Chief Timipre...

Fed Govt Okays $1.5bn For P/Harcourt Refinery Rehabilitation       The Federal Government has approved the sum of $1.5 billion for the rehabilitation of Port Harcourt Refinery, which is the largest refining company in the country. Disclosing this at the end of the Federal Executive Council, FEC, yesterday,...

PIB'll Address Production Sharing Contracts Issues On Gas, Says Sylva       The Minister of State for Petroleum Resources, Chief Timipre Sylva, says the Petroleum Industry Bill (PIB) currently before the National Assembly will resolve the issues under the Production Sharing Contracts (PSC) on gas. Sylva made this...

Fed Govt To Crash Oil Production Cost To $10       The Federal Government yesterday launched the Nigerian Upstream Cost Optimisation Programme (NUCOP) to cut down the cost of crude oil production to $10 per barrel. The new programme is targeted at boosting industry collaboration and process enhancement,...

NNPC To Operators: Cut Oil Production Cost To Survive         The Nigerian National Petroleum Corporation has urged operators in the nation’s oil and gas industry to cut the cost of production in order to survive in the face of the global energy transition. The NNPC called on...