PIB: Sylva Faults Host Communities’ 10% Trust Fund Demand       The Minister of State for Petroleum Resources, Timipre Sylva, has faulted the position of host communities who are insisting on collecting 10 per cent of the operating expenditure of the oil firms to set up a...

Oil Nears $56, Fed Govt May Reintroduce Fuel Subsidy       The sustained increase in global crude oil prices has pushed up the landing cost of imported petrol closer to the current pump prices of the product in Nigeria, and appears to have triggered a return to...

Renewable Energy Breakthrough Threatens Nigeria’s Gas Investments         Efforts by the government to harness its 203.16 trillion cubic feet (TCF) gas reserves to spur economic activities and boost revenue may remain elusive as an emerging energy solution, especially renewable energy and energy storage, are projected to...

Lower Oil Sector Taxes Guaranteed In New PIB - Sylva         The Minister of State for Petroleum Resources, Mr. Timipre Sylva has said that Nigeria’s long-awaited Petroleum Industry Bill (PIB) will include low tax provisions to sustain stable investments in the country’s oil sector. Sylva equally noted...

Petrol Price May Hit N180 As Oil Nears $50         The pump price of Premium Motor Spirit, popularly known as petrol, may hit N180 per litre this month, according to marketers, as oil prices extended their rally on Monday, with Brent crude trading near $50 per...

Nigeria Most Expensive For Upstream Projects – Kyari         The Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Mele Kyari, has disclosed that Nigeria remains one of the most expensive countries in the world for petroleum upstream projects. Upstream is refers to points in production that originate...