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...

Oil, Power Companies’ Bank Debts Now N6.14trn - CBN       The debts owed to Nigerian banks by oil and gas operators as well as power companies have risen above N6tn, the latest data obtained from the Central Bank of Nigeria have shown. The energy firms increased their...

FG, Oil Companies Lose N87.16bn To Gas Flaring     The Federal Government and oil companies in the country lost an estimated N87.16bn from January to May this year as a total of 90.9 billion standard cubic feet of natural gas was flared. The oil companies wasted 19.95...

NUPENG, PENGASSAN Caution Oil Companies Against Sacking Workers   The national leaderships of both the Nigeria Union of Petroleum and Natural Gas Workers and the Petroleum and Natural Gas Senior Staff Association of Nigeria have cautioned companies in the oil and gas industry against sacking workers. The...

NEITI Unveils Owners Of Oil Companies, Mining Licences   The Nigeria Extractive Industries Transparency Initiative on Thursday unveiled the extractive sector beneficial ownership register for Nigeria. NEITI’s Executive Secretary, Waziri Adio, said the register was to enthrone transparency in the extractive sector in particular and the country...

Fed Govt To Tax Oil Companies' Dividends   If the Finance Bill submitted by President Muhammadu Buhari is passed by the National Assembly, it would remove the tax exemption on dividends paid from the profits of oil companies. The Minister of Finance, Budget and National Planning, Mrs...