Gas Flaring: FG Imposes N22bn Fine On Oil Firms   The Federal Government will impose $49m (N22bn) fine on oil and gas firms operating onshore for flaring 24b Standard Cubic Feet of gas valued at about N40b ($86m) between January and February 2023. According to latest gas...

Fed Govt Shortlists 139 Firms For Gas Project   As part of its efforts to reduce carbon emission, the Federal Government has shortlisted 139 oil and gas firms for its gas flaring commercialisation programme. The firms, which were shortlisted by the Nigerian Upstream Petroleum Regulatory Commission, would...

Oil Firms Get N127bn Fine For Flaring Gas   The Federal Government has fined oil and gas firms operating in the country the sum of $294m, which is about N127bn, for gas flaring. A recent statistics released by the National Oil Spill Detection and Response Agency, NOSDRA,...

Fed Govt To Auction Gas Flare Sites Via Bids   The Federal Government on Sunday announced that it was carrying out a study to identify suitable gas flare sites for auction and that it would issue flare sites to technically competent companies through a competitive bid...

Nigeria Loses N891bn To Gas Flaring In 18 Months   Nigeria lost N891bn to gas flaring in 18 months, according to data from the Nigerian Oil Spill Monitor, an arm of the Nigerian Oil Spill Detection and Response Agency (NOSDRA) released on Sunday. The data revealed that...

In One Year, Oil Companies’ Gas Flare Payments Jump From $15.4m To $307.4m   Gas flaring payments made by oil companies increased from a meagre $15.5 million to $307.4 million between 2018 and 2019, the most recent audit report from the Nigeria Extractive Industries Transparency Initiative...