Tag: Oil
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Sen. Magnus Abe warns Nigeria on dangers of delay in PIB passage
A former senator and chieftain of All Progressives Congress, Magnus Abe has warned Nigeria on the dangers of further delay in the passage of Petroleum Industry Bill (PIB) in Nigeria. Abe who leaned on the opening remarks ( READ HERE: #TNGPIBConfab: Nigeria cannot waste anymore time in enacting PIB law – Bayagbon ) of TNG’s…
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#TNGPIBConfab: Dakuku reveals key factors needed to fully unlock potentials of PIB in Nigeria
The immediate past director-general of Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dakuku Peterside has listed two key factors needed to be accommodated in the Petroleum Industry Bill (PIB) to fully unlock gains of the petroleum sector in Nigeria. Dakuku who made the revelations yesterday at a one day colloquium organised by TheNewsGuru (TNG),…
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FG to reactivate moribund oil, gas support facilities
Mr Sarki Auwalu, Director, Department of Petroleum Resources (DPR), says the Federal Government is committed to reactivating all moribund oil and gas support facilities across the country. Auwalu said this was part of the government’s effort to increase domestic refining capacity and gas utilisation in order to curb unemployment and poverty in Nigeria. Auwalu spoke…
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We’ve found oil in Northeast, production starts soon, says Buhari’s petroleum minister
The Minister of State for Petroleum Resources, Timipre Sylva, has revealed plans by the Federal Government to begin oil exploration in the northeast. Speaking during a recent interview on Channels Television’s on Monday, Sylva said: “I have said it a few times that we have found oil in the northeast and we have started drilling…
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NNPC posts N28 billion trading surplus
The Nigerian National Petroleum Corporation (NNPC) has announced a total export receipt for crude oil and gas valued at $120.49 million for the month of September 2020, posting a trading surplus of ₦28.38 billion. This is contained in a statement signed and released on Sunday by Dr. Kennie Obateru, Group General Manager, Group Public Affairs…
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Oil prices hit nine-month high
Oil prices hit a nine-month high early on Thursday after U.S. government data showed that crude stockpiles fell last week and on optimism over a coronavirus relief package in the United States. Brent crude futures rose by 28 cents, or 0.6%, to $51.36 a barrel at 0116 GMT, while U.S. West Texas Intermediate (WTI) crude…
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Ugborodo requests for N12.31b accruals from oil servicing firm
Ugborodo community in Warri Southwest council area of Delta State has urged the Economic and Financial Crimes Commission (EFCC) to help it in retrieving N12.31 billion from JAD Group, an oil service provider company. The community, in a petition signed by three representatives, under the aegis of Ugborodo Community Leaders/Stakeholders, alleged that the services provider…
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FG stops South South Governors from meeting over Zamfara gold, Niger Delta oil
Leaders of the South South geopolitical zone have demanded public apology from the Federal Government over botched stakeholders meeting in Port Harcourt on Tuesday. Governors of the South South led by its Chairman and Governor of Delta, Senator Ifeanyi Okowa, who were in Port Harcourt for the meeting, had informed the stakeholders comprising traditional rulers,…
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Isoko group queries Zamfara gold deal with CBN
A flagship socio-political organization of the Isoko nation known as the Isoko Advancement Network (IAN) has warned that the inequalities in the handling of the exploitation of natural resources in Nigeria can trigger youth restiveness in the Niger Delta. The group expressed disappointment with the leadership of the National Assembly for blowing a muted trumpet…
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Wike rubbishes Zamfara gold comments ascribed to him
The Rivers State Government has rubbished comments ascribed to Governor Nyesom Wike in connection with the Central Bank of Nigeria (CBN) purchasing N5 billion worth of gold from the Zamfara State Government. TheNewsGuru.com (TNG) reports the Rivers State Government made this known via a statement released on Sunday by the Rivers State Commissioner for Information…