PIB: FG To Add Strategic Reserves’ Financing Cost To Fuel Price         The Federal Government is proposing the addition of the costs of managing the national strategic stocks of petroleum products to the retail price of the commodities. The proposal, which is included in the 2020 Petroleum...

Oil Marketers Concerned About Possible Unrest When Prices Rebound         Petroleum marketers have urged the Federal Government to take decisive steps in addressing deregulation concerns in the downstream sector to avoid a civil unrest that may arise when oil prices rebound. According to the Major Oil Marketers...

2019 Financials: NNPC At Risk Of Bankruptcy — Auditors, Management Warn       Independent auditors and management of the Nigerian National Petroleum Corporation, NNPC, have raised doubts over the ability of the corporation to continue as a going concern, following rising losses and negative capital as a...

Lawmakers To Consider PIB Next Tuesday — Gbajabiamila         The House of Representatives has slated the Petroleum Industry Bill, 2020 for a second reading on Tuesday next week, Speaker Femi Gbajabiamila has disclosed. The Speaker made the disclosure on Wednesday in plenary, while calling for all motions...

PIB: Oil Firms To Pay Fine For Gas Flaring       Operators in the oil and gas sector involved in gas flaring will be expected to pay a yearly fine to the government for the offence, according to the Petroleum Industry Bill (PIB) before the National Assembly. The...

PIB’ll Secure Future Of Nigeria’s Oil Industry, Says Kyari       Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, Monday, disclosed that the passage of the Petroleum Industry Bill, PIB, would effectively secure the future of Nigeria’s oil and gas industry and...