The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has stated that the proposed implementation of the 15 per cent of valorem import duty on imported petroleum products (petrol and diesel) is no longer going to be implemented. The regulator advised members of the public to eschew panic-buying as the nation had enough petrol in…
The Chief Executive, Nigerian Upstream Petroleum Regulatory Commission, Engr. Gbenga Komolafe, has said the country’s competitive reform agenda has delivered 28 Field Development Plans worth $18.2billion in investment commitments, underscoring the attractiveness of the upstream sector to investors. These commitments are also expected to unlock 1.4 billion barrels of oil (bbo) and 5.4 trillion cubic…
Nigeria’s crude oil rigs increased from 44 of last week to 46 yesterday, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Its Chief Executive, Gbenga Komolafe, an engineer, made this known in Abuja during the Strategic Workshop for Media Practitioners organised by the NUPRC Public Affairs and Corporate Communications Unit. He said: “And again,…
Despite the fluctuations in global crude oil prices, Dangote Petroleum Refinery and Petrochemicals, yesterday assured that it will ensure a stable price of the commodity. The company, in a release, signed its Group Chief Branding and Communications Officer, Anthony Chiejina, said the decision to maintain price stability reflects its unwavering commitment to supporting the Nigerian…
The Federal High Court in Yenagoa, Bayelsa State, has ruled on the disputed OML 46 which has been in contention between Halkin Exploration and Production Limited and the Bayelsa Oil Company Limited, reaffirming that the former- Halkin Exploration and Production Limited, as the rightful owner and operator of the Atala Marginal Oil Field, OML 46….
The Nigerian National Petroleum Company Limited (NNPCL) has said there is no disparity between its crude oil production figure and that of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).Chief Corporate Communications Officer at the state-run but “oil behemoth” Mr. Olufemi Soneye, in a statement on Monday, explained: “The NNPC Ltd has clarified that there is…
