The sharp decline in global oil prices this week—reaching their lowest levels since 2021—has sent waves of concern through oil-dependent economies, particularly Nigeria. With Brent crude prices falling to $60.44 per barrel and West Texas Intermediate (WTI) dropping to $57.12,…
The House of Representatives has passed the amended South West Development Commission Bill, removing provisions that would have allocated revenue from airports, seaports, and gas companies operating in the South West region. During Tuesday’s plenary session, Speaker of the House…
President Bola Tinubu is committed to transparency, attracting investment, and fostering sustainable growth in the oil and gas industry. This was revealed by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Chief Executive, Mr Gbenga Komolafe, at the Renewed Hope Global…
Shell has unveiled a series of strategic initiatives designed to enhance local content in Nigeria’s oil and gas sector, aiming to foster partnerships, build capacity, and ensure regulatory compliance to maximise value for local businesses. Shell’s Media Relations Manager, Gladys…
The Nigerian Association of Petroleum Explorationists has announced plans to unveil some of Nigeria’s most exciting geological discoveries and exploration opportunities to attract both local and foreign investments in the oil and gas industry. In a statement signed by the…
The Ogoni people have expressed their support for ongoing discussions between Ogoni leaders and the Federal Government regarding the planned resumption of oil extraction in Ogoniland. This endorsement was contained in a communique issued following a congress attended by Ogoni…
The PETAN Chairman, Engr. Wole Ogunsanya has called for the privatisation of Nigeria’s oil and gas pipelines in what he termed “commonwealth solution,” to ensure efficiency and sustainability of the nation’s critical oil and gas industry. He made the charge…
By Seun Ibiyemi The Nigerian government is aiming to attract $5 to $10 billion in near-term investments for deep-water offshore operations through the recently introduced tax incentives in the oil and gas sector. This announcement was made on Thursday by…
The Nigeria Extractive Industries Transparency Initiative (NEITI), says outstanding collectible revenues due to the Federal Government in the oil and gas industry have risen to 6.071 billion dollars and N66.4 billion as at June 2024, respectively. NEITI disclosed this on…
Vice-President Kashim Shettima has welcomed ExxonMobil’s proposed 10 billion dollars investment in Nigeria’s deep-water oil operations. This is contained in a statement issued by the spokesperson of the Vice-President, Mr Stanley Nkwocha, on Thursday. Shettima made the remark during a…
