Nigeria’s Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, who doubles as the President of APPO recently said the organization would mobilize $2 billion funds to aid continental synergy that would ensure sustainable development of hydrocarbon in Africa. The primary focus of the renewed
The Coordinator of Publish What You Pay (PWYP), South-West Zone, Comrade Paul Oma-Chike said it has become imperative to properly scrutinize the existing policies in the sector and fine-tune them to meet the current reality. Oma-Chike spoke on the sideline of the Basic Oil and
IOC, India’s largest refiner, is the first Indian state refiner to buy US oil under an annual contract, in a deal that will help boost trade between New Delhi and Washington but could also threaten Nigeria’s crude exports to India, Daily Trust reports. India has
Following the release of our report on Nigeria’s oil palm sector where we opined that the industry is keenly positioned to soar further over the coming years (as investments in burgeoning milling and refining capacity by listed sector players will crystallize in expanded revenues and
The Federal Government had benchmarked its 2019 budget on $60.00 and 2.3 million bpd, including Condensate. But in its latest report obtained by Vanguard yesterday, the Ministry of Petroleum Resources, disclosed that the nation’s output dropped from 2,081,936 barrels per day (bpd) recorded in December,
Durban – A TRILLION and over 20 years could pour into the country if a gas discovery in the Outeniqua Basin, off the southern Cape coast, is tapped. French oil and gas company Total announced on Thursday that it had found gas condensate on the
Experts urge politicians to watch comments The oil and gas sector in Nigeria, particularly upstream, will be affected by policy uncertainties, security, and the slump in the price of crude oil, stakeholders have said. Players in the industry, in an outlook, ahead of the general
The report stated that at N2,412.21 billion, federally-collected revenue in the fourth quarter of 2018 was lower than the proportionate quarterly budget estimate of N3,321.36 billion by 27.4 percent. It also fell below the receipts in the preceding quarter by 4.8 percent. An analysis also uncovered that the moderate
Speaking at the ongoing Nigeria International Petroleum Summit, NIPS, in Abuja, Kachikwu disclosed that the Federal Government has acquired the capacity to monitor vessels operating in Nigeria and through its monitoring of these vessels, it had observed irregularities in the movement of some of
Nigeria recorded crude oil export worth N11.5 trillion in nine months, from January to September 2018, rising by 48.01 percent from N7.77 trillion recorded in a similar period in 2017. According to data obtained from the National Bureau of Statistics’ [NBS], Foreign Trade Statistics for