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Tag Archives: Dr Ibe Kachikwu

Nigeria’ll continue to import petrol in 2019 and Kachikwu’ll not resign, says analysts

Ibe Kachikwu

Recent pronouncement by the Minister of state for Petroleum that he would resign come 2019 if Nigeria failed to stop importing refined petroleum products has raised reactions from industry experts. Whereas many of them argued that he may be swept away in the next cabinet reshuffle, other say he did not ‘watch his back’ well before the comment. According to ...

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Conversion of illegal refineries to modular may worsen environmental crisis in N/Delta if…

refinery Illegal

Petroleum products refining experts have warned the federal government to be very careful in setting out the guidelines for the conversion of hundreds of illegal refineries popularly called ‘Kpor-Fire’ in the oil rich Niger Delta for the sake of associated pollution multiplier effects. It would be recalled that the Acting President, Prof Yemi Osinbajo had given the hint after a ...

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Danger looms as NNPC gives signal showing tired of importing Petrol alone

Ibe Kachikwu

Indication emerged in Lagos on Wednesday that crisis causing scenario may be hovering in the nation’s downstream petroleum sector which may land the country in another deadly round of fuel scarcity and eventual hike in pump price even in recession. This is coming from the position of the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, who disclosed that ...

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ExxonMobil, PENGASSAN labour matter snowballing to halt oil production if…

ExxonMobil

Happenstances trailing the yet to be called off industrial action embarked upon by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and a subsidiary of United States’ ExxonMobil Corporation is becoming a source of concern in the volatile oil production region of the country. Since Monday this week, the warring union had extended its industrial action to ...

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How IOC’s lobbying is grounding lawmakers’ national interest in passage of PIB—-BH Report

Oil firms

New report released by Business Hilights Research Team (BHRT) has fingered the unseen forces apparently operating from the camp of International Oil Companies (IoCs) as the stumbling block in the passage of the Petroleum Industry Bill (PIB) at the National Assembly. The report also recognised the fact that lobbying remains a legal means used by either lovers or haters of ...

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FG, Agip reach fresh deal to build new refinery in Port Harcourt

Ibe Kachikwu

The results of the recent visit of the Minister of State, Petroleum Resources, Dr. Ibe Kachikwu to Italy where he met with top officials of the Agip group has started emerging as he revealed on Tuesday that the Federal Government and oil giant have reached an agreement to build a new refinery in Port Harcourt or Brass. When completed, the ...

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How IOCs failed to pay $14.3b penalty for gas-flaring to FG in 8 years

Ibe Kachikwu

Fresh figures from the Department of Petroleum Resources (DPR) and Nigerian National Petroleum Corporation (NNPC) have shown that International Oil Companies (IOCs) failed to pay about $14.298 billion between April 2008 and October 2016 as penalty for gas-flaring to the federal government. Whereas DPR figures showed $850 million (N306 billion) loss to gas-flaring in 2015, NNPC latest report put losses ...

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Nigeria ready to beg OPEC for extension of oil production cuts exemption

OPEC Ibe kachukwu

As duration for the Organization of Petroleum Exporting Countries (OPEC) cuts window draws near, federal government has given an indication that it will prevail on the global oil cartel to extend Nigeria’s exemption considering the observed monetary strikes by militants in the oil rich region of Niger Delta. The window is expected to end soon. OPEC had considered the raging ...

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Emulate Dangote or get ready to lose your oil refinery licence, FG warns licensees

Refinery

The Federal Government on Wednesday in far away Huston Texas, handed down a rare ultimatum to oil refinery licensees who are yet begin construction works to emulate Aliko Dangote or lose the validity as soon as possible. Minister of State for Petroleum Resources, Dr Ibe Kachikwu, gave the warning at a World Press Conference on the sidelines of ongoing annual ...

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