Home / Tag Archives: Dr Ibe Kachikwu

Tag Archives: Dr Ibe Kachikwu

NASS summons Minister over collapse of refurbished refineries 6 months after

Yakubu Dogara

Following the alleged discovery that all four national refineries refurbished during the last quarter of 2016 are flat in production, the House Representatives on Monday rose in anger to invite Minister of State for Petroleum, Dr. Ibe Kachikwu, to explain why. However, comments made by the minister during his tour of Dangote refinery penultimate Monday did not show that the ...

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‘Stubbornly high cost of oil production forcing FG to rest exploration’ –Minister

Ibe K

“The country will have to halt oil production if the cost of producing the commodity remains stubbornly high. “For me, you rather leave the oil in the ground than produce at a cost that doesn’t make sense. So, cost is going to be a very high driver. So that is certainly one area we are focusing on; we are working ...

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Oil sector in dilemma as wait for Buhari hangs marginal fields licencing

Ibe Kachikwu

More business and economic development issues suffering the absence of the President and Commander in Chief, Muhammadu Buhari seem to be growing by the day. The latest in the row may be the proposed marginal oil fields licensing rounds by the Federal Government which by law, must get the express nod of the president before takeoff. Business Hilights gathered that ...

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Kachukwu opens up, agrees falling oil price’ll hit 2017 budget bad

Ibe Kachikwu

Minister of State for Petroleum Resources, Dr. Ibe Kachikwu on Thursday in Abuja, agreed that the combined forces of emerging crash in crude oil price to about $42.5 per barrel and the likelihood of Nigeria being forced to join other members of Organisation of Petroleum Exporting Countries (OPEC) in ongoing cut in oil production will definitely affect the 2017 national ...

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Minister silent on income from sales of N3.4tn products imported in 2016

OPEC Ibe kachukwu

Since the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has revealed that in the last one year, Nigeria spent about N3.4tn on the importation of petroleum products, but industry experts are worried on why he only stopped at what government spent without revealing what it made selling the N3.4tn petroleum products. It is important to understand that the ...

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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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