Oil, Gas Industry Operators to Get 10-year Tax Vacation - Sylva The Minister of State, Petroleum, Chief Timipre Sylva, said yesterday that when the Petroleum Industry Act (PIA) fully takes off, it will provide for a 10-year tax vacation for some oil and gas investors...

Port Harcourt Refinery Will Resume Production By December, Says FG The Federal Government has revealed that the Port Harcourt Refineries is expected to become functional by December. The Minister of State for Petroleum Resources, Timipre Sylva, disclosed this while responding to questions from State House reporters...

N84trn Needed to Bridge Nigeria's Gas Facility Deficit - Sylva  The Minister of State for Petroleum Resources, Timipre Sylva, estimates that Nigeria will need $200 billion (about N84 trillion) to address the gas infrastructure deficit in the next 10 years, with $20bn (N8.4trn) spending per...

Refinery Rehabilitation gulps N54.66bn as Fuel subsidy Rises to N1.593tn The Nigerian National Petroleum Company Limited latest data has revealed that the government subsidised Premium Motor Spirit, popularly called petrol with N1.593tn between January and June 2022. It was also gathered that the NNPCL’s pumped N54.66bn...

MOMAN Urges FG to Phase Out Subsidy, Avoid Shock The Major Oil Marketers Association of Nigeria has called for gradual phasing out of fuel subsidy instead of a total deregulation following the current product scarcity being experienced across the globe. The Chairman, MOMAN, Olumide Adeosun, made...

Buhari Rejoices With Petroleum Minister, Timipre Sylva, at 58   President Muhammadu Buhari has sent good wishes to the Minister of State, Petroleum Resources, Timipre Sylva, on his 58th birthday, which was marked on Thursday. The President in a statement by his spokesman, Femi Adesina, lauded Sylva...