The Nigerian National Petroleum Corporation (NNPC) and its partners in the Oil Mining Lease (OML 130) Production Sharing Agreements (PSA) and Production Sharing Contract (PSC) are set to earn over $760m from fresh Gas Supply Purchase Agreements (GSPAs) and Gas Entitlement Agreement (GEA) executed Thursday at the NNPC Towers. The...
The House of Representatives has passed the Petroleum Industry Bill (PIB). The House Committee of the Whole, on Thursday, considered the report of the Ad hoc Committee on PIB and passed the bill. The report was laid on Wednesday by the Chairman of the Ad hoc Committee, Mohammed Monguno (APC, Borno). The 318 clauses...
The Minister of State for Petroleum Resources, H E. Timipre Sylva has been honoured by a team of journalists under the auspices of Corruption Reporter, for his leadership role in the fight against corruption in the Petroleum Industry. Speaking on behalf of the team, Mrs Adaora Onyechere, a member board...
The Nigerian National Petroleum Corporation (NNPC) is collaborating with the Economic and Financial Crimes Commission (EFCC), Department of State Services (DSS), Nigeria Police Force (NPF), Nigeria Customs Service (NCS), Nigeria Security and Civil Defence Corps (NSCDC) and other relevant downstream and upstream stakeholders in the petroleum industry to curb...
The Chairman of the Economic and Financial Crimes Commission EFCC, Abdulrasheed Bawa has vowed that smugglers of Premium Motor Spirit (PMS) in the country will face the full wrath of the law. Bawa issued this stern warning today, Tuesday 22 June, while making a remark during a stakeholders’ engagement on...
The Nigerian Senate has commended the Nigerian National Petroleum Corporation (NNPC) for its efforts towards entrenching transparency and stamping out corruption from its system. The commendation was given by the Chairman of the Senate Committee on Anti-Corruption and Financial Crimes, Senator Suleiman Abdu Kwari, at a hearing which held at...
Technology will play a key role in ensuring Nigeria stays cost competitive in today’s oil market, Mr. Roger Brown, Chief Executive Officer of Seplat Plc, has said. The Seplat CEO said this in his keynote address titled, “Oil Market Forum: Who Is In Control?” at the ongoing 2021 Nigerian International...
Nigeria LNG Limited (NLNG) has signed 10-year LNG Sales and Purchase Agreements (SPAs) with three offtakers for the domestic supply of Liquified Natural Gas (LNG) in country. The Company will supply 1.1 Million Tons Per Annum (MTPA) of LNG on DES basis to Asiko Power Limited, Bridport Energy Limited and...
The Nigerian National Petroleum Corporation has congratulated the President of the Nigerian Guild of Editors (NGE)), Mr. Mustapha Isa, on his re-election as the president of the Guild. The Group Managing Director of NNPC, Mallam Mele Kyari, in a congratulatory letter he personally signed, stated that Mr. Isa’s re-election did...
Nigeria has been appointed the chair of the Extractive Industries Transparency Initiative global Network on Contract Transparency. The Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji is to chair the global initiative on behalf of Nigeria. The Head, Communications and Advocacy, NEITI, Obiageli Onuorah in a statement said, the appointment was...