Joy Obakeye The recently passed Petroleum Industry Act (PIA) represents the most comprehensive review of the legal framework for the oil and gas sector in Nigeria since the industry began commercial operations in the 1960s. E & P companies must brace up for the opportunities and challenges aspects of the PIA present in the new […]
Nigeria’s oil and gas sector could take a plunge as federal and state governments relax restrictions further. The country has reported 304 new confirmed cases of the Coronavirus (COVID-19) as the death toll jumped to 888. Nigeria Centre for Disease Control (NCDC) made this known on its official twitter handle on Sunday, Daily Times gathered. […]
The federal government has discovered about 1,260 abandoned mining sites in the country. The Minister of Mines and Steel Development, Olamilekan Adegbite said about 25 sites have been recovered from 2007 since the programme started. The abandoned sites, he said, are useful sometimes because they form artificial lakes especially in dry season farming for those […]
Saudi Arabia’s crown prince warned that oil prices could spike to “unimaginably high numbers” if the world does not come together to deter Iran, but said he would prefer a political solution to a military one. Speaking to the CBS program “60 Minutes,” Mohammed bin Salman, the kingdom’s de facto ruler, also denied that he […]
Experts in the oil and gas sector have appealed to the Federal Government to provide non- cash guarantees for developers of modular refineries, to attract both foreign and local investors. The experts made the appeal in separate interviews with the News Agency of Nigeria (NAN) in Lagos on Saturday, against the backdrop of funding challenges […]
Former President Goodluck Jonathan has said the Local Content Act 2010 is the driving force in the increased participation of indigenous companies in the nation’s oil and gas sector. He lauded the efforts of indigenous companies who have taken advantage of the law to invest and participate and especially singled out Lee Engineering and Construction […]
The Oil and gas sector needs investment worth about $10 billion for four consecutive years in order to transform the sector. The Minister of State for Petroleum Resources, Dr. IbeKachukwu stated this while delivering his ministerial address at the ongoing 2017 Nigeria Oil and Gas Conference (NOG) in Abuja. “For transformation to occur in the […]