As the Federal Government de-emphasises use of petrol to power automobiles, the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, on Monday assured that all its service stations nationwide will be flooded with compressed natural gas in December, for easier access to consumers. Kyari gave the assurance at the 3rd Valuechain…

The head of Nigeria’s state oil company expressed confidence that the nation’s long-delayed oil and gas industry reforms will be passed by Parliament. The Petroleum Industry Bill, legislation that has been two decades in the making, seeks to overhaul the laws that govern the West African nation’s oil industry, reforming how it’s operated and funded.…

New refining capacities expected to come on stream in Nigeria and other African countries in the next few years may increase pressure on existing plants on the continent, the Organisation of the Petroleum Exporting Countries has said. OPEC, in its newly released 2020 World Oil Outlook, estimated refining capacity additions between 2020 and 2025 at…

Exploration of frontier basins shall fall under the purview of the Upstream Regulatory Commission, if the Petroleum Industry Bill, under consideration at the National Assembly, becomes law in its current form. In the wordings of the law, the Commission is now empowered to carry out the functions that the state hydrocarbon company, NNPC, currently performs…

The Federal Government is taking new measures to deploy more gas to boost manufacturing in the South East part of the country. To facilitate this, the Minister of State for Petroleum Resources, Chief Timipre Sylva, and the five southeast governors would be part of a stakeholders’ forum to discuss the possibility of boosting the manufacturing…

The Department of Petroleum Resources, DPR, Sunday released guidelines for the establishment and operations of downstream gas facilities across the country, stating that companies seeking to establish gas-dispensing facilities would be required to obtain three approvals and licences, among others, before commencing operations. This is coming days after the gas explosion at Baruwa, Ipaja, Lagos,…

ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, is pleased to announce the completion of the 14th Lifting (“Lifting”) at the Aje Field, part of OML 113 offshore Nigeria in which the Company currently holds a 5% crude entitlement. As a result of the market volatility caused by the…

The federal government is seeking to retain the same Production Sharing Contract (PSC) terms, signed into law in 2019 by President Muhammadu Buhari, in the new Petroleum Industry Bill (PIB) before the National Assembly. The PSC Amendment Act christened “Deep offshore and Inland Basin PSC Amendment Act, 2019,” introduced a combined production and price-based royalty…

Nigeria has opted for non-discretionary award of petroleum licences, with open bid rounds as the core framework, if the Petroleum Industry Bill (PIB) currently in its parliament is the signpost of things to come. The 252 -page draft bill was delivered to the bicameral house of legislature by the executive arm of the Nigerian government…