Nigeria’s Oil Sector Suffers 6.63% Decline Amid Production Cuts     Amid the collapse of oil prices and demand, Nigeria’s oil and gas sector saw its contribution to the economy tumble in the second quarter of this year as it recorded negative growth. For the first time in...

With More Transparency, Nigeria Recovers $3bn from Oil Sector - W/Bank     The World Bank and the Extractive Industries Transparency Initiative (EITI), the global standard for the promotion of openness in the oil, gas and mineral resources management, have said Nigeria has so far recovered about...

DPR Issues Oil Sector Survival Strategic Plan     The Department of Petroleum Resources has outlined some strategic plans that would guarantee the survival of Nigeria’s oil industry post COVID-19 pandemic. DPR’s Director, Sarki Auwalu, disclosed some of the plans while speaking during a webinar entitled ‘Nigeria Oil...

We Deregulated Downstream Oil Sector In March - Minister   The Minister of State for Petroleum Resources, Chief Timipre Sylva said the downstream oil sector was deregulated on March 19, with the reduction in the pump price of petrol. Sylva, who made the clarification at a ministerial...

NCDMB, DPR To Check Abuse Of Expatriate Quota In Oil Sector   All companies seeking to engage expatriates in the Nigerian oil and gas industry must henceforth ensure they obtain the relevant approvals from Nigerian Content Development & Monitoring Board (NCDMB), before applying for Expatriate quota,...

Delayed PIGB, Militancy'll Top Challenges For Oil Sector In 2020   Continued pipeline disruptions, delay in passing the Petroleum Industry Governance Bill (PIGB) as well as other issues, may drag necessary reforms needed for growth in Nigeria’s oil and gas sector this year. Indeed, Economic Confidential had...