The Minister of Finance and the coordinating of the Economy, Wale Edun, has initiated a high-level stakeholder meeting to implement President Bola Tinubu’s directive for the Nigerian National Petroleum Corporation Limited (NNPCL) to sell crude oil to local refineries in Naira. The meeting involving the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Group Chief Executive Officer of …

The Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, and former Executive Secretary, of the Nigerian Content Development Monitoring Board (NCDMB), Simbi Wabote, yesterday, traded allegations of over $500 million in investments and loans. In his earlier comments, Wabote noted that “My problem as Executive Secretary started with Lokpobiri in December 2023 when he sent one of his undocumented …

With Nigeria facing the reality of not meeting its 2024 oil production target, Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri and the Chief of Defence Staff (CDS), Major General Christopher Musa have vowed to curb oil theft and pipeline vandalism in the Niger Delta region. They agreed that the menace of oil theft, which has seriously curtailed production …

The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri has explained that the drop in oil production in February and March 2024 was caused by issues encountered on the Trans Niger Pipeline, coupled with maintenance activities carried out by some oil companies operating in the country. March oil production data released by the Nigerian Upstream Regulatory Commission (NUPRC), yesterday …

The Minister of State for Petroleum Resources, Oil, Senator Heineken Lokpobiri, has insisted that the establishment of modular refineries is the shortest way to address the energy problems bedevilling the country. Lokpobiri stated this while speaking to newsmen shortly after a tour of WalterSmith Modular Refinery in Ibigwe, Imo State. He said that to this end, the Federal Government will …

Nigeria and the Government of the Kingdom of Saudi Arabia have signed a pact on oil and gas sector investments. The cooperative framework outlined in the Memorandum of Understanding (MoU) encompasses joint research and development initiatives, knowledge-sharing platforms and capacity-building programmes. Minister for State Petroleum Resources (Oil), Senator Heineken Lokpobiri, signed on Nigeria’s behalf; Saudi’s Energy Minister, Prince Abdulaziz bin …

Minister of State for Petroleum and Oil sector, Senator Heineken Lokpobiri; and the Group Chief Executive Officer (GCEO) of NNPC Limited, Malam Mele Kyari at the weekend carried out an inspection tour of the Kaduna Refinery and Petrochemical Company (KRPC) to assess progress on the ongoing quick-fix project being undertaken by Daewoo Engineering Construction Nigeria Limited. They assured that everything was …