The Deputy Speaker of the House of Representatives, Benjamin Kalu, on Monday said that the Petroleum Industry Act 2021 has attracted about $16bn worth of investments in the petroleum sector since it was signed into law a few years ago.

Assets Conversion: NNPCL, Chevron Target 165,000 bpd by December In line with the Petroleum Industry Act (PIA) 2021 provisions of transiting assets from the Petroleum Profit Tax (PPT) into PIA terms, the NNPC Ltd. and its Joint Venture (JV) partner, Chevron Nigeria Ltd (CNL), have...

Our Ability to Sustain Fuel Supply Under Threat – NNPCL The ongoing scarcity of petrol, seems far from over as the Nigerian National Petroleum Corporation Limited (NNPCL) has said its ability to sustain fuel supply is under threat. Chief Corporate Communications Officer of the NNPCL, Olufemi...

FG Awards First Oil Exploration License Under PIA The Federal Government has granted a Petroleum Exploration Licence to TGS-PetroData Offshore Services Limited, which is the first of such licence to be issued under the Petroleum Industry Act 2021. It said the licence, which was granted by...

Unpaid Minerals Export Royalties to Federation Account hit N17.12bn The Federal government has said that outstanding unpaid royalties from Minerals export between 2013 and 2017 to the Federation Account amounted to N17.12billion. The Minister of Mines and Steel Development, Olamilekan Adegbite disclosed this during the consultative...