Category: Energy and Power
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Marginal oil fields: Another goldmine ebbing away
By Kolade Omotoso For so long as Nigeria had crude oil as the mainstay of her economy, how well has it served Nigeria since discovery? Not so well as corruption and sabotage have seen the country and its citizens wallowing in abject poverty, infrastructural deficit and wanton corruption. In a bid to harness the full…
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Association tasks oil, gas stakeholders on passage of PIB
The Petroleum Technology Association of Nigeria (PETAN) has called on stakeholders in the oil and gas sector to work together to ensure the passage of the Petroleum Industry Bill (PIB). Mr Nicholas Odinuwe, President of the association made the call on Wednesday in a goodwill message to the ongoing Virtual Nigeria Energy Industry Transformation Summit…
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Marketers react as PPMC fixes ex-depot price of petrol at N138.62 per litre
…MOMAN Chairman says pump price of petrol could go as high as N151 per litre The Major Oil Marketers Association of Nigeria (MOMAN) has said Nigeria is gradually heading towards full deregulation of the Premium Motor Spirit (PMS), which will enable pump price to be determined by market forces. Mr Tunji Oyebanji, Chairman, MOMAN, disclosed…
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PIB suffers further setback as Senate proceeds on annual recess without Executive action
Senate President Ahmad Lawan on Wednesday announced the Nigerian Senate would be proceeding on its annual recess until September, leaving the Petroleum Industry Bill (PIB) to suffer further delay. TheNewsGuru.com (TNG) reports President Muhammadu Buhari had declined assent to a component of the bill passed by the National Assembly (NASS) with a promise to submit…
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57 marginal oil fields: Isoko threatens to shut down fields, gives FG ultimatum
…supports Urhobo, Ijaw, Itsekiri …condemns marginalization of indigenes …says it is injustice taken too far The Isoko Development Union, IDU, the umbrella body of all Isoko citizens has threatened to shut down 57 marginal oil fields in Delta State its citizens are not part of the bidding process. The group joined voice with its Urhobo,…
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‘Why it’s difficult to entrench change in NNPC’
Najim Animashaun, a Policy Adviser and Lawyer, has given an insight as to why it is difficult to entrench the culture of change in the Nigerian National Petroleum Corporation (NNPC). TheNewsGuru.com (TNG) reports Animashaun gave the insight on Friday during a Twitter conference with the theme: “Reforming NNPC towards operational efficiency and commercial effectiveness”, hosted…
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FG explains deregulation of oil downstream sector
The Minister of State for Petroleum Resources Chief Timipre Sylva says the deregulation of the downstream oil sector was to ensure economic growth and development of the country. Sylva made this known in a statement in Abuja, on Thursday. He said it was unrealistic to continue to subsidise the Premium Motor Spirit (PMS) also known…
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DPR moves on to next phase of 57 marginal oilfields bid rounds
From receiving applications, the Department of Petroleum Resources (DPR) said the stage is now set to move on to the next stage of the of 2020 marginal oilfields bid rounds, which is the phase to do pre-qualification for the bidders. The Director of DPR, Mr Auwalu Sarki, while speaking on Tuesday in a television programme…
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FG maintains silence as controversies trail 2020 marginal oil fields bid rounds
The federal government has so far maintained deafening silence, failing to address issues that have propped up since the Department of Petroleum Resources (DPR) announced the commencement of the 2020 marginal oil fields bid rounds. TheNewsGuru.com (TNG) reports the flag-off of the 2020 marginal oil fields bid rounds comes amidst the Nigeria’s poor financial situation,…
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BREAKING: FG increases pump price of petrol
The federal government has announced an increase in the pump price of petrol, saying the increase was a result of prevailing market fundamentals in the month of June. TheNewsGuru.com (TNG) reports the Petroleum Products Pricing Regulatory Agency (PPPRA) made this known in a circular on Wednesday, advising all marketers to operate a new price band…