Fed Govt Seeks Active Exploration For New Oil, Gas Resources       The Department of Petroleum Resources has said the Federal Government will promote active exploration for new oil and gas resources in the country as it seeks to ramp up reserves to 50 billion barrels. The DPR...

Oil, Gas GDP Contribution Declines By N3.25trn In Two Years       The contribution of crude petroleum and natural gas sector, which is a sub-sector under the mining and quarrying sector, to Nigeria’s Gross Domestic Product dropped from N13.45tn in 2018 to N10.2tn in 2020, signifying a...

We’ll Keep Promoting Gas As Alternative To Petrol, Says FG       The Federal Government will continue to promote the use of natural gas as an alternative to Premium Motor Spirit, popularly called petrol, the Minister of State for Petroleum Resources, Chief Timipre Sylva, has said. Sylva said...

Nigeria Lost N53.26bn To Gas Flaring In Two Months – NNPC       Nigeria lost an estimated N53.26bn in the first two months of this year as international oil companies and local players flared a total of 33.04 billion standard cubic feet of natural gas. The oil companies...

$40bn Investments Needed for Nigeria’s Gas Plan - NNPC       The Nigerian National Petroleum Corporation (NNPC) has said that the Nigerian oil and gas industry will require at least $40 billion in direct investments in basic infrastructure to achieve the federal government’s much talked-about about “Decade...

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...