NEITI Reveals Oil Firms, Agencies Owe FG N1.5tn in Unremitted Revenues   The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that oil companies and some government agencies owe the federation about N1.5tn in outstanding oil and gas remittances. NEITI’s Executive Secretary, Dr Orji Ogbonnaya Orji, stated...

Three Major Oil Firms Project N290bn Revenue in Q1, 2024   Three oil and gas firms have projected a total of N290 billion in terms of revenue for the first quarter of 2024. These projections were stated in their earnings forecast filed with the Nigerian Exchange Limited. The...

NNPCL to End Fuel Importation by Dec 2024 The Nigerian National Petroleum Company Limited, on Thursday, said it would end the importation of refined petroleum products by December 2024 as all the country’s refineries would be operational by then. It also projected that the national oil...

FG Approves Two Oil Export Terminal Licences to Generate $11bn The Federal Government has issued and signed licences for the establishment of two crude oil export terminals, capable of generating $11bn revenue annually for the country. It issued the licences through the Nigerian Midstream and Downstream...

Oil Communities, Firms Partnership Target $5bn Investment Fund   The Host Communities of Nigeria Producing Oil and Gas had said it is targeting a $5bn fund in partnership with the private sector to kick-start investment drive and development in the oil-producing states in the country. The Executive...

Oil Firms Will Return To Full Production – Fed Govt   The Federal Government, on Tuesday, said it was working to ensure that all local and international oil companies returned to full capacity production of crude oil in Nigeria. Major oil producers in Nigeria have drastically cut...