Foreign oil companies have been issued a strict 90-day mandate to establish local subsidiaries in Nigeria following the acquisition of operational licenses. This directive, aimed at domesticating the activities of international energy giants, represents a significant move to ensure that the “infrastructure of distribution” for the nation’s natural resources directly supports the local economy and […]
By Agency Report The Presidency says contrary to views in certain quarters, the International Oil Companies (IOCs) are not exiting the country, rather they are rebalancing and refocusing on deep water. Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, stated this in an interview with the News Agency of Nigeria in Abuja on […]
BY CHUKWUEMEKE IWELUNMO The International Oil Companies (IOCs) and Local Oil Companies (LOCs) under the aegis of the Oil Producers Trade Section (OPTS) have agreed to follow the recommendations of the ministerial committee established by the Minister of Aviation and Aerospace Management to review the helicopter landing levies collected by the ministry’s agent, NAEBI Dynamic […]