We’ll Commence Oil Exploration In Chad Basin Soon – Fed Govt         The Federal Government on Wednesday said it was willing to resume oil exploration in the Lake Chad Basin. The exercise was suspended by the government in July 2017 after suspected members of Boko Haram attacked...

Stock: Market Extends Gain With N106bn         Trading activities on the equity market on Tuesday further closed upbeat as investors continued to take position on blue-chip stocks in anticipation of a fair third-quarter results. The key market performance measures, the NSE All-Share Index rose by 0.70 per...

DPR Reveals Strategies For Deregulated Oil, Gas Downstream Sector       The Department of Petroleum Resources (DPR), has revealed plans to address emerging challenges in the downstream sector of Nigeria’s petroleum sector, as the country transits to a private sector-led industry. The Federal Government had, in March, announced...

Fed Govt To Prioritise Investments In Gas Pipelines For Local Consumption       The Minister of State for Petroleum Resources, Timipre Sylva, has said a significant network of additional gas pipelines remains a priority for the government as it thinks of strategies to make gas available and...

$70 Oil Price Required To Sustain Budget – Fed Govt       The Minister of State for Petroleum Resources, Timipre Sylva, has said the country needs an oil price of $70 per barrel and a production of two million barrels per day to sustain its budget. Sylva said...

Indigenous Oil Marine Vessels Now 40%, Says FG   Nigerian-owned marine vessels for oil and gas sector operations have increased from three per cent to over 40 per cent, the Federal Government said on Tuesday. The Minister of State for Petroleum Resources, Timipre Sylva, said this in...