The Nigerian National Petroleum Corporation (NNPC) may have spent about N835 billion higher on petroleum subsidy in the first nine months of this year than it did last year based on imported products’ data provided by the Petroleum Products Marketing Company (PPMC) and the Department of Petroleum Resources. The official data provided by the two […]
The Federal Government has earned the sum of N6,671,081,710,411.26 as oil revenue between 2010 and 2017. The Department of Petroleum Resources (DPR) disclosed this in its 2017 Nigerian Oil and Gas Industry Annual Report launched on Tuesday in Lagos. The Department indicated in the report that the revenue was realized from oil and gas royalty, gas […]
The Federal Government has increased the penalty for gas flaring to $2 per 1,000 standard cubic feet of gas, SCF, from N10 per 1,000 SCF earlier imposed as sanction for the offence. In the latest gazetted ‘Flare Gas (Prevention of Waste and Pollution) Regulations 2018,’ released by the Federal Ministry of Petroleum Resources, government stipulated […]
The Federal Government has ordered Exploration and Production (E & P) companies operating in the upstream sub-sector of the nation’s hydro-carbon resources industry to end gas flaring by 2019 or risk stoppage of operations completely. The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, gave the hint on government’s position during the 2018 Buyers’ […]
Worried by the increasing risks of desertification to the environment and human health, the Department of Petroleum Resources (DPR), on Tuesday advised Nigerians to embrace the use of gas as domestic source of energy, rather than charcoal. The Department hinged the basis of its charge on the worrisome deleterious effects tree felling is causing in […]