December 16, 2017

New dawn for indigenous operators in Nigeria’s petroleum industry | The Guardian Nigeria

oil and gas industry in Nigeria

After several decades of being dominated by multinationals, #nigeria’s petroleum industry is seeing increasing participation by local operators. Indigenous companies have purchased billions worth of assets from firms such as Eni, Shell, Chevron and Total in the past five years. Shell, along with many other oil majors is going through a broad process of asset sales in the country in an effort to cut costs and boost profits. Other companies, including Total, Eni, Chevron and ConocoPhillips, are divesting from Nigeria’s oil and gas sector, which has been plagued by rising oil spills, sabotage and industrial-scale theft from Nigerian wells and…

Middlemen Feeding Fat on Petroleum Subsidy

Dr. (Mrs) Diezani Alison-Madueke

Daily Independent Minister of Petroleum Resources, Dr. (Mrs) Diezani Alison-Madueke, last week, had an interview session with journalists in Abuja, during which she provided answers to some nagging issues affecting her personality, Nigeria and the oil industry in general. Senior Reporter, OBAS ESIEDESA, who was there, provides the excerpts: What is the position of government on kerosene subsidy? There was a Presidential directive to withdraw subsidy on kerosene. It is possible that the Minister of Petroleum at that time must have gone to discuss it with the President and might have been able to convince him the on the need…

Achievements in the Oil & Gas Sector Higlighted in Presidential Campaign

Presidential Campaign

  It’s not just the amount of oil and gas we produce. It’s about producing it cleaner and more efficiently.   Since taking office in 2010, President Goodluck Ebele Jonathan and Honourable Minister of Petroleum Resources, Diezani Alison-Madueke (Mrs.), CON have completely transformed Nigeria’s oil and Gas industry as part of the Transformation Agenda. The results have seen a transformation in Nigeria’s economy, and a transformation in the lives of all Nigerians. We take a closer look at what has been achieved by making the industry more efficient and how the changes are benefiting Nigerians and the country as a…

Forensic Audit Report: We Were Not Indicted – NNPC

NNPC BUILDING

…As Petroleum Minister Directs NNPC to Defray Outstanding $1.48bn NPDC Signature Bonus, Taxes The forensic audit report on the alleged missing $20bn unremitted oil revenue carried out by the reputable international firm, PriceWaterhouseCoopers has absolved the Nigerian National Petroleum Corporation (NNPC) of culpability over the allegation of non- remittance of $20bn, saying that what is due for remittance to the Federation Account is $1.48bn Nigerian Petroleum Development Company (NPDC) being signature bonus, taxes and royalties on the assets transferred to the Corporation’s upstream subsidiary, the Nigerian Petroleum Development Company. In a statement made available to journalists, the Corporation noted that…

Alison-Madueke Elected OPEC’s First Female President

Diezani Alison-Madueke (Mrs.), con, Minister of Petroleum Resources Elected OPEC’s First Female President

…Shale Oil is a Major Game Changer The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has been elected as the first female President of the Organization of the Petroleum Exporting Countries (OPEC) in the 166th meeting of the OPEC Conference in Vienna, Austria. Mrs. Alison-Maduke takes over from His Excellency Abdourhman Atahar Al-Ahirish, Libya Vice Prime Minister for Corporation and her tenure takes effect from January 2015. Before her emergence today, she was the Alternate President of the Organization. The Conference also elected His Excellency, Dr Mohammed Bin Saleh Al Sada, Minister of Energy and Industry of Qatar and Head…

Alison-Madueke Pledges aggressive implementation of Gas-to-Power Initiatives

AzuraWA

NPDC/Seplat JV Invest over $200m on Azura-Edo IPP Gas Infrastructure The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has committed to an aggressive and robust implementation of the various initiatives designed to accelerate the provision of adequate gas supply for power generation in line with the Federal Government’s aspiration for the power sector. The Minister who recently announced the N213bn inter-agency initiative to facilitate the liquidation of legacy gas debts in the power sector stated that the Nigerian National Petroleum Corporation alongside its Joint Venture Partners are determined to surpass its mandate of providing the required fuel gas as well…