Nigerian Content Act makes little impact in terms of local manufacturing

Three years after President Goodluck Jonathan signed the Nigerian Content bill into law to ensure domestic domiciliation of activities in the oil and gas...

Oil theft, other factors lead to revenue shortfall in July

The Federation Account Allocation Committee Thursday deducted N115 billion from the Excess Crude Account (ECA) to make up for revenue shortfall for July. The withdrawal...

How $1bn power sector Eurobond will be spent – DMO

The $1billion Eurobond meant for public power supply stabilisation in Nigeria will not only be tied to the envisaged projects, but also closely monitored...

‘Nigeria loses $2.5bn to gas flaring yearly’ – HOMEF

Health of Mother Earth Foundation, HOMEF, said that Nigeria loses more than $2.5 billion through the flaring of associated gas annually. Mr. Nnimmo Bassey, Executive...

FG may have raked in N358.04bn from PHCN asset sales

All things being equal, the Federal Government may have raked in about $2.238 billion or N358.045 billion from the sale of 15 Power Holding...

Crude oil trade movements for North Sea, Mediterranean and West Africa

Royal Dutch Shell Plc, Gunvor Group and Vitol Group failed to sell North Sea Forties crude for a second day. Total SA (FP) bought...

OPTS disputes Nigeria’s daily crude oil theft figures

Members of the Oil Producers Trade Section (OPTS) have said the current figures bandied around as Nigeria’s daily crude oil loss to theft, owing...

OPEC daily basket price closed at $107.06/b on Tuesday 20th August 2013

The price of OPEC basket of twelve crudes stood at 107.06 dollars a barrel on Tuesday, compared with $107.83 the previous day, according to...

Nigeria’s debt/GDP ratio moves to 35%, edges closer to fiscal ceiling

Following the upsurge in borrowings by the federal and state governments, the Asset Management Corporation of Nigeria (AMCON) and public agencies such as the...

Alison-Madueke, Nebo, others to meet on Thursday, August 22, over PIB

The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, Minister of Power, Prof. Chinedu Nebo, lawmakers, top officials and regulators in the oil and gas industry will...

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