The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that the reforms embarked upon by the government are targeted at cutting petroleum products’ importation by at least 60 per cent by 2018 and thereafter position the country for net export by...

...As FAAC revenue down by N35.3bn The federation accounts allocation committee(FAAC) shared the sum of N420 billion among the Federal, State‎s and Local Governments for the month of September 2016. It is however short by N35.3bn compared with the amount in August this year. Giving the breakdown,...

The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, has in India, negotiated a USD 15 billion investment with terms to be agreed, where the Indian Government would make an upfront payment for Crude purchase to Nigeria, to be repaid on the...

The Nigerian National Petroleum Corporation has increased the number of companies referred to as off-takers of the country’s crude oil from 21 to 27. Last December, the corporation announced the award of its 2016 crude oil term contracts to 21 companies comprising international refiners, trading...

The Nigerian National Petroleum Corporation (NNPC) has applauded the Defense Intelligence Agency (DIA) for its strategic role in providing adequate security in the oil and gas exploration region. Group Managing Director of the NNPC, Dr. Maikanti Baru, gave this commendation when he paid a courtesy...

...Budget constraint hampering road construction, says Fashola ...FG approves N3.5bn for prisons to buy 350 vehicles The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that Nigeria will soon close the deal on a $3 billion to $4 billion loan from China that...