FG Upholds Revocation of Over 50 Oil Licences, Cites Capacity Gaps The Minister of Petroleum Resources (Oil), Heineken Lokpobiri, has refused to approve the extension of over 50 expired oil licences currently on his table. Lokpobiri stated that over 60 licences were awarded in a marginal...

Lokpobiri Reassures Commitment to OPEC Despite Rising Oil Output The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has assured that Nigeria remains fully committed to the rules of the Organisation of Petroleum Exporting Countries despite recent gains in crude oil output. Lokpobiri said...

FG Tasks Oil Firms to Ramp Up Production The Federal Government has again tasked indigenous oil companies to ramp up production to meet both domestic and export demands and boost revenue remittance to government coffers. The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri, made...

FG to Revoke License of Dormant Oil Blocks  The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri, threatened to withdraw oil blocks from owners that have failed to develop them. This is against the backdrop of the Federal Government calling on international oil companies operating...

Africa Energy Bank $120bn Project to Begin in Q1, 2025 – FG The Federal Government yesterday hinted that the Africa Energy Bank (AEB) to be headquartered in Nigeria would be unveiled in the first quarter of 2025. The bank which targets an asset base of $120bn...

Tinubu's Govt Not Paying Subsidy Anymore - Petroleum Minister Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, has set the record straight that the Bola Ahmed Tinubu-led administration is not paying fuel subsidy, contrary to reports in some quarters. He made this clear on Thursday...