FEC Approves $64.2m for Escravos Power Project Nigeria’s Federal Executive Council (FEC) has approved 64.2 million dollars for power supply project to communities within Escravos area of Delta State. Dr Ibe Kachikwu, the Minister of State for Petroleum Resources, disclosed this while briefing State House correspondents...

Senate Probes Kachikwu, DPR Over Oil Lease Renewal   The Senate has resolved to investigate Nigeria’s imminent loss of $10bn to illegal discounts and rebates granted by Federal Government officials in the process of oil and gas lease renewal. Adopting a motion moved at the plenary on...

Meeting Global Oil Demand Requires $10.3tr investment– OPEC The Oil-Producing Exporting Countries (OPEC) yesterday disclosed that a whopping $10.3 trillion investment would be required to meet the 15 million barrels per day (mb/d) projected increase in global oil demand from 94.5 mb/d in 2016...

Kyari Appointed Nigeria’s OPEC Envoy The Nigerian National Petroleum Corporation (NNPC) has announced the appointment of Mallam Mele Kyari, incumbent Group General Manager in charge of its Crude Oil Marketing Division, as Nigeria’s National Representative to the Organization of the Petroleum Exporting Countries (OPEC). The NNPC...

Crude Oil: Kachikwu Commends DPR On Digital Accounting   The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has commended the Department of Petroleum Resources for the digital technological breakthrough in crude oil accounting through the deployment of the National Production Monitoring System platform. Kachikwu, who...

Within Three Years FG Has Attracted $60bn In Oil Sector Says Kachikwu     The Minister of State for Petroleum, Dr. Ibe Kachikwu, has said that about $60 billion investments had been attracted to the sector since 2016. Kachikwu spoke at the weekend in Bayelsa State, against the...