The federal government has been advised to handover its refineries and other commercially viable projects to the private sector in order to reduce its debts and earn more revenue from Continue Reading
Nigeria has given its state oil firm the green light to acquire a 20% stake in Dangote’s oil refinery for $2.76 billion, junior oil minister Timipre Sylva said on Wednesday. Continue Reading
Fitch Ratings, a global credit rating agency has said the passage of the Petroleum Industry Bill (PIB) could have positive long-term effects for both the country’s public finance as well Continue Reading
Nigeria has lost 4.5 trillion barrels of oil to theft in the last four years, according to data from the Nigeria Natural Resource Charter (NNRC). Another data from the National Continue Reading
The House of Representatives at the plenary, Thursday stepped down the report of the conference committee on Petroleum Industry Bill (PIB), following a shouting match by Niger Delta lawmakers, who Continue Reading
Apparently in a bid to comply with the output quota of the Organisation of Petroleum Exporting Countries, OPEC, Nigeria’s oil output dropped 11.47 per cent year-on-year, YoY, in the second Continue Reading
Africa’s largest oil producer and exporter, Nigeria, is expected to pass its new petroleum bill—twenty years in the making—as early as Wednesday, despite last-minute amendments that have created some controversy. Continue Reading
Oil spill. Shell had claimed the case would be better decided in Nigeria. Now, its subsidiary SPDC will now be part of the lawsuits filed in England against Royal Dutch Continue Reading
The privatization agency in Africa’s largest economy plans to sell or allow private investors to manage 36 state-owned assets to boost government revenues that have come under pressure from lower Continue Reading
Nigeria lost 42.25 million barrels of crude oil valued at 2.77 billion dollars to oil theft in 2019, the Nigeria Extractive Industries Transparency Initiative (NEITI) said in its latest audit Continue Reading
