Seventy-seven oil companies owe the Federal Government N2.6 trillion debts, the Nigeria Extractive Industries Transparency Initiative (NEITI) has said. The debt arises from the failure to remit petroleum profit tax, company income tax, value-added tax, royalty, and concession on rentals.…
By Uthman Salami The Nigerian National Petroleum Corporation (NNPC) said, contrary to the information making rounds, it has not begun any recruitment exercise. This was contained in a release made available to Nigerian NewsDirect by the Group General Manager, Group…
The amount spent on the importation of petroleum products into Nigeria in 2020 is $43.46bn higher than the revenue which the country earned from the export of petroleum products in the same year. In its 2021 report on the latest…
The Federal Government through the Nigerian National Petroleum Corporation (NNPC) on Thursday commenced the construction of a 50 megawatts gas power plant for the supply of electricity to Maiduguri and environs. The construction of the plant which is an emergency…
Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian and London stock exchanges, has commissioned the project for power supply to Oben Cottage Hospital from its Oben gas facility at Oben Orhionmwon Local Government Area…
The Military operating under Operation Delta Safe have discovered and deactivated a total of 69 illegal refining sites in different parts of the Niger Delta region of the country. The Acting Director, Defence Media Operation, Brig.-Gen. Bernard Onyeuko, disclosed this…
…As Member countries export an average of 19.70mb/d of crude oil in 2020 By Uthman Salami The Organization of Petroleum Exporting Countries, OPEC, recorded a great reduction in its global crude export in 2020 after Corona Virus pandemic caused a…
Nigeria and other nations involved in huge gas flaring could lose up to $82bn a year due to global gas flaring, according to GlobalData report. The report identified biggest gas flarers, accounting for over 87 per cent of all flared…
Indications have emerged that the Organization of Petroleum Exporting Countries (OPEC) and allies are most likely to sustain the existing deal to add 400,000 barrels per day (bpd) to its output for November. A number of sources laid claim to…
The Independent Petroleum Producers Group (IPPG) has solicited Federal Government’s support in protecting oil and gas facilities from attack especially in the South-East. The group also congratulated the Government over the passage of the Petroleum Industry Bill (PIB) into law…
