Tag: DPR
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DPR remits $1.03 billion in royalties, legacy debts to FG
The Department of Petroleum Resources (DPR) has said it remitted 1.03 billion dollars to the Federation Account from oil and gas royalties and legacy debts. DPR’s Director, Mr Sarki Auwalu made this known in a statement issued on Tuesday in Lagos. Auwalu said this was achieved through robust regulatory reforms that had been put in…
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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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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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57 marginal fields: Group threatens to cripple oil operations in Itsekiri land
The Itsekiri ethnic nationality in Delta State has decried what it called its marginalisation in the current bidding process for the 57 Marginal Fields by the Department of Petroleum Resources (DPR). They expressed their grievance in Ode-Ugborodo, Escravos, Warri South-West Local Government Area (LGA), of Delta, in a statement, after a peaceful protest on Monday.…
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No repeat of past mistakes in 2020 marginal oilfield bids – DPR
The Department of Petroleum Resources (DPR) says there will not be a repeat of past mistakes made in previous exercises in the ongoing bid rounds for 57 marginal oilfields in the country. Mr Auwalu Sarki, Director, DPR, gave the assurance on Monday while delivering a keynote address at the Africa Marginal Oilfield and Independent Producers…
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Why exclusion of CSOs from 2020 marginal oil fields bid is bad for process
A coalition of Civil Society Organisations (CSOs) has decried their exclusion from the proposed Marginal Oil fields’ bid rounds announced by the Department of Petroleum Resources (DPR). The group’s protest was contained in a letter to the DPR, jointly signed by the National Coordinator, Publish What You Pay (PWYP) Nigeria, Peter Egbule; Executive Director Centre…
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Guidelines for 2020 marginal fields auction faulty, says expert
National Coordinator of Publish What You Pay Nigeria, Peter Egbule has said the guideline issued by the Department of Petroleum Resources (DPR) for the 2020 marginal fields bid round exercise is faulty. TheNewsGuru.com (TNG) reports Egbule made this assertion during a Twitter conference with the theme, ‘marginal oil fields auction: why citizens should be alert,…
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DPR to conclude marginal oilfields bids in 10 weeks
The Department of Petroleum Resources (DPR) has said it expects to have all complete bids for marginal oilfields round for 2020 within 10 weeks. The Director of the DPR, Mr Sarki Auwalu made the disclosure on Wednesday, saying this is the viable option for local firms to own marginal oilfields. On Monday, Nigeria launched its…
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Nigeria May Run Out of Crude Oil in Next 50 Years – DPR
The Department of Petroleum Resources (DPR) has disclosed that Nigeria’s crude oil deposit could be exhausted in five decades from now. This was contained in its latest Nigerian Oil and Gas Industry Annual Report, which noted that at current reserve depletion rate standing at 2.04 percent per annum, will cease in 2067. The DPR then…