Cooking gas price increases by 100% as FG implements gas imports tax
The Federal Government has implemented a 7.5 per cent tax on imported Liquefied Petroleum Gas, popularly called cooking gas, as…
NNPC breaks 44-year jinx with N287b net profit
The Nigerian National Petroleum Corporation (NNPC) has recorded a net profit of N287 billion, breaking a 44-year jinx in a…
NNPC to deduct N215bn from September FAAC
The Nigerian National Petroleum Corporation (NNPC) is once more set to deduct about N215.3 billion from its contribution to next…
Republic of Congo is Repositioning as Regional Oil and Gas Competitor
The Republic of Congo has outlined efforts being made to make the country a major player in the regional oil…
PIA: Govt can sell NNPC shares to individuals, says Kyari
There is provision in the Petroleum Industry Act (PIA) that gives room for individuals to acquire stakes in the new…
Oil price jumps to $68 after days of losses
The international oil benchmark, Brent crude, jumped on Monday, snapping a seven-day losing streak that was crude’s worst since 2019,…
Loopholes in PIA: 36 states set up six-member panel, plan amendments
The 36 states of the federation have set up a six-man committee on the Petroleum Industry Act (PIA) with a…
No fuel price increase until FG, labour end negotiations – PPRA
The Petroleum Products Pricing Regulatory Agency (PPRA) says that although the Petroleum Industry Act had signaled the full deregulation of…
Petroleum Industry Act open to amendment, says Lawan
Senate President Ahmad Lawan yesterday said the Petroleum Industry Act 2021 is not perfect and will be amended in future.…
Shell’s divestment assets in Nigeria valued at $2.3b
As Shell Petroleum Development Company (SPDC) in Nigeria moves to divest its assets in Nigeria, especially joint venture licenses and…