After over three years of suspension of crude oil production operations in Awoba Oil Field in River State, the Nigerian National Petroleum Company Limited (NNPCL) on Tuesday announced the resumption of production operations on the oil field. The Chief Communications Officer of the oil company, Olufemi Soneye, recalled that the Awoba field last produced oil […]
The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) has disclosed that a total sum of N7,314,129,314,386.08 accrued into the Federation Account in fiscal year 2023. The figures were contained in the monthly report to the Federation Account Allocation Committee (FAAC) by the Central Bank of Nigeria (CBN) titled “CBN Federation Account Component Statement”. In a […]
The Nigerian National Petroleum Company Limited (NNPCL) has solicited the support of the Economic and Financial Crimes Commission (EFCC) in the current efforts of the Federal Government to combat the crude oil theft incidents nationwide in view of the destructive impacts on the nation’s economy. The Group Chief Executive Officer of NNPCL, Mele Kyari, appealed […]
The Senate has advised the Federal Inland Revenue Service (FIRS) to strive for N30 trillion revenue collection in the fiscal year 2024, thereby raising the N19.7 trillion target earlier set for the tax agency. The Senate Finance Committee, during its budget presentation for 2024, advised the Service to strive to meet the projection after a […]
The Federal Inland Revenue Service (FIRS) has unveiled plans to meet with the Central Bank of Nigeria (CBN) and Ministry of Works this Friday with a view to reviewing about N2.59 trillion tax credit scheme for road repairs and construction in the country. The Chairman of the federal revenue service, Dr. Zacch Adedeji, during a […]
The Nigerian National Petroleum Company Limited (NNPCL), is currently exploring collaborative options with the United States Department of State and leading global consultancy firm, Deloitte, on greenhouse gas emissions from OML 34 with a view to abating the rate. The company’s Chief Corporate Communications Officer, Mr. Olufemi Soneye, stated on Monday that the project, which […]
The Federal Government of Nigeria and the Kingdom of Morocco have reopened their discussions to fast-track the process of achieving the Final Investment Decision (FID) on the Nigeria-Morocco gas pipeline project. The parley took place on the sidelines of a meeting between the Minister of State for Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, and the […]
The Nigerian National Petroleum Company Limited (NNPCL) has uncovered 83 illegal refineries and 15 illegal pipeline connections in the Niger Delta over the past week The national oil company made this disclosure on Tuesday on its official ‘X’ handle, stating that a total of 211 incidents of oil theft and vandalism took place between January […]
Shell Plc has reached an agreement to sell its Nigerian onshore oil assets to a local consortium for over $1.3 billion, pending government approval. The purchasing consortium which the pact was sealed with comprised Renaissance, ND Western, Aradel Energy, First E&P, Waltersmith, and Petrolin. The company’s Integrated Gas and Upstream Director, Zoe Yujnovich, confirmed this […]
….Approves 7 Marketers For Product Lifting The Dangote Refinery, the largest single-train refinery in the world, has commenced the refining of Automotive Gas Oil (also known as diesel) and Aviation fuel (Jet AI) about seven months after its inauguration seven months ago. The refinery began operations in the early hours of Friday following the earlier […]