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Home Tag Archives: Oil sector

Tag Archives: Oil sector

Oil & Gas

Rafsanjani calls for comprehensive audit of oil sector

By Abdullahi Alhassan
28 April 2025
in :  Oil & Gas
0
5

The Head of Transparency International (TI) Nigeria and Executive Director of the Civil Society Legislative Advocacy Centre (CISLAC), Comrade Auwal Musa Rafsanjani, has thrown his support behind calls for a full-scale investigation into the Nigerian National Petroleum Company Limited (NNPCL). Speaking to Channels Television on the sidelines of the Spring Meetings of the World Bank Group (WBG) and the International …

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Economy

Improve transparency in oil sector, contain borrowing, IMF tells FG

By Breezynews
26 April 2025
in :  Economy
0
35

The International Monetary Fund (IMF) has advised Nigeria to enhance transparency in the oil sector to ensure that the subsidy removal savings are transferred to the government’s budget. The director of the African department at the IMF, Abebe Selassie, gave the advice on Friday while presenting the findings of the Regional Economic Outlook for Sub-Saharan Africa report at the IMF …

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Oil & Gas

NUPRC, oil sector stakeholders meet to fine-tune operational issues

By Breezynews
20 February 2025
in :  Oil & Gas
0
36

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), along with major stakeholders in the country’s oil and gas sector, met in Abuja on Wednesday to discuss and fine-tune issues related to domestic crude supply obligations between producers and refiners. The meeting aimed to enhance Nigeria’s energy security. The gathering, which has become routine, presented a platform for the management of NUPRC, …

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News

Abia to bolster oil sector, launch medical tourism through new projects

By Breezynews
22 January 2025
in :  News
0
0

The Abia State Government has announced plans to soon commence the construction of the Abia Medical City project, designed to reverse medical tourism and attract patients to the state. The Commissioner for Information, Okey Kanu, disclosed this on Tuesday while briefing journalists on the outcomes of this week’s State Executive Council meeting, presided over by Governor Alex Otti. He stated …

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Oil & Gas

Nigeria’s oil sector receives 30,000BPD boost

By Breezynews
15 December 2024
in :  Oil & Gas
0
2

In a landmark development for Nigeria’s oil and gas sector, Oriental Energy Resources Limited has launched a $315 million Floating Production, Storage and Offloading (FPSO) vessel designed to significantly enhance the nation’s crude oil production. The FPSO vessel, with a storage capacity of one million barrels, which will kick off with an initial production of 17,000 barrels per day before …

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Oil & Gas

Tinubu assures of more stability in oil sector with naira for crude transactions

By Breezynews
30 October 2024
in :  Oil & Gas
0
9

President Bola Ahmed Tinubu, speaking on Tuesday in Abuja, commended the Implementation Committee on the Naira-based sales of crude oil and refined products and asked the members to resolve any teething problems. In a review meeting at the State House, the President said that using the Naira was conceived to remove the exchange rate hurdle. “Whatever solution we proffer in …

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Business

Oil sector’s foreign investments plummet from $720m to $3.64m

By Breezynews
29 July 2024
in :  Business
0
206

Despite efforts by the government to attract more foreign investors into the oil and gas sector, the nation’s foreign capital investments in the industry nosedived from $720 million in 2016 to $3.64 million in the entire 2023. The country also recorded no foreign capital investment in the first quarter of 2024, a report by the National Bureau of Statistics (NBS) …

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Oil & Gas

Oil sector attracted $16.6b investments under Tinubu – Minister

By Breezynews
23 May 2024
in :  Oil & Gas
0
84

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, on Monday, announced that about $16.6 billion investments had been committed to Nigeria’s oil and gas sector in the past one year. He spoke in Abuja while providing updates on achievements in the oil sector since President Bola Tinubu assumed office on 29 May 2023. On what was being …

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