Budgeting Investments/Capital Market Latest News Oil & Gas Planning & Economic Development Political Economy Revenue Science 'n' Technology Technology Transportation

NNPC, Daewoo Seal $741Mn Deal For Kaduna Refinery’s Repair

The Nigerian National Petroleum Company Limited (NNPCL) has signed a $741 million maintenance service contract with Daewoo Engineering and Construction Company Limited for a quick fix repair of the moribund Kaduna Refinery and Petrochemical Company (KRPC). A statement by the Nigerian oil company indicated that the signing ceremony was performed on Thursday by the top […]

Banking Budgeting Latest News Oil & Gas Planning & Economic Development Political Economy Revenue Technology Transportation

Nationwide Fuel Crisis Not Caused By Product’s Scarcity – Kyari

The Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari, on Thursday said that the lingering nationwide fuel scarcity was not connected to unavailability of product but to the challenges in the oil industry’s downstream subsector. Kyari, who made this remark during an interview on the Good Morning Nigeria Programme […]

Budgeting Investments/Capital Market Latest News Oil & Gas Planning & Economic Development Political Economy Transportation

IPMAN Promises Improved Fuel Supply, Lower Pump Prices

The Independent Marketers Association of Nigeria (IPMAN) has promised fuel users in the country of improved product supply and lower pump prices within the next two weeks. The association’s National Operations Controller, Mr Mike Osatuyi, made this pledge on Wednesday while responding to a question on Arise TV’s Morning Show programme. The marketing chief hinged […]

Budgeting Latest News Oil & Gas Planning & Economic Development Power/Electricity Revenue Technology

Shell Mulls Sale Of UK Energy Supply Business

Shell Plc is reportedly considering selling its UK energy supply business after injecting £1.2 billion into the loss-making division to help it cope with rocketing gas and electricity prices. News report on Thursday from The Telegraph, UK-based newspaper, quoted the company as saying that it has launched a strategic review of the business, which supplies […]

Budgeting Investments/Capital Market Latest News Oil & Gas Planning & Economic Development Revenue

NUPRC Commences 2022 Mini-Bid Round For Deep Offshore Oil Licences

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has commenced the 2022 mini-bid round process in accordance with the Petroleum Industry Act (PIA) 2021 for prospective licensees in the nation’s hydrocarbon resources industry. The mini-bid round aims to open opportunities for investors to begin new oil exploration and drilling activities in the prospective deep waters offshore […]

Accounting & Financial Reports Banking Budgeting Latest News National Assembly Oil & Gas Planning & Economic Development Political Economy Revenue Revenue Agencies Tax Taxation Technology

FG To End Fuel Subsidy By June 2023, Budgets N3.36Trn For Regime

The Federal Government on Wednesday vowed to end the fiscal regime by the end of June this year. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who gave this hint during her public presentation on the breakdown of the 2023 Federal Government budget in Abuja, said that the government had made provisions […]

Banking Budgeting Latest News Oil & Gas Planning & Economic Development Revenue

IMF Forecasts Recessionary Trend In Global Economies

The Managing Director of the International Monetary Fund (IMF), IMF Manag has projected that some global economies would face even tougher challenges this year than the past year as some big economies will simultaneously decline. The IMF boss in an interview with CBS, said: “For most of the world economy this is going to be […]

Banking Budgeting Crime & Judiciary Matters Latest News National Assembly Oil & Gas Planning & Economic Development

Atala OML 46: Senate Flaws NUPRC’s Licence Revocation, Orders Licencee’s Takeover

The Senate on Thursday flawed the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC’s) revocation of the Atala Marginal oil field (OML 46) licence in February 2020 and directed the commission to re-allocate the oil field to the original owners as earlier directed by the Presidency. The resolution of the Red Chamber was sequel to the recommendations […]

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NOGASA Links Fuel Scarcity To Spiking Diesel Price, Others

The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has partly linked the lingering scarcity and high price of Premium Motor Spirit (PMS) to sundry challenges, particularly the high price of Automotive Gas Oil (AGO) also known as diesel. The National President of the association, Mr. Benneth Korie, who spoke on the downstream hiccups […]

Budgeting Latest News Oil & Gas Planning & Economic Development Transportation

Jet A1 Scarcity May Disrupt Flights During Yuletide, New Year – AON

Airline Operators of Nigeria (AON) on Tuesday expressed serious concern over impending Jet A1 (aviation fuel) scarcity, saying the ugly situation may threaten flight services during the Yuletide season and New Year festivities nationwide. The operators, in a statement signed by its spokesman, Prof. Obiora Okonkwo, said there were already signals that the scarcity is […]