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Tag Archives: Dr. Ibe Kachukwu

Conflicting statistics trending in Nigeria’s oil exploration, production worrisome

Ibe K

Only last week, a Senator, Ms. Stella Odua called for a reliable metering system that will help determine the exact volume of all oil output and sales in the country, saying time has gone for the era of no knowledge of what Nigeria truly produces in the oil and gas sector. Still last week, the Minister of State for Petroleum, ...

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Good news for 2017 budget as oil price jumps to $53 a barrel

After two days of decline, Brent crude LCOc1, the global benchmark, on Wednesday was up 50 cents at 52.64 dollars. Analysts say the trend is good for the Nigerian economy not just for the rise, but for the equally rising daily production which the Minister of State for Petroleum, Dr. Ibe Kachukwu has said is risen to 2.25bpd. If the ...

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Dangote refinery has capacity for 70% of local demand, end imports from 2019—Ikeji

Dangote refinery

Leading oil and gas law expert and consultant, Mr. Ikechukwu Ikeji, has hinted that “All things being equal, the emerging multibillion dollar Dangote refinery will among other things, be a big game changer”. In an interview, he told Business Hilights that the refinery “has the capacity of giving Nigeria about 70 per cent of refined petroleum needed in Nigeria daily ...

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Why we are building world largest single line refinery in Lekki—Dangote

Dan K1

African lead investor and industrialist, Alhaji Aliko Dangote has given fresh insights on his mission in in the development of Dangote refinery in Lekki Free Trade Zone, Lagos. In his welcome address, during a recent tour of his refinery by the Minister of Petroleum of State for Resources, Dr. Ibe Kachukwu, Dangote explained that his group is building the world’s ...

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Breaking: Minister tours Dangote refinery, Lekki, seeks early completion

Dan K1

Barely 24 hours after he hinted the desire of the federal government to quit further oil exploration and; three day he signaled plans to sell off two ‘commercially unviable’ refineries, the Minister of State for Petroleum, Dr. Ibe Kachukwu, on Monday paid a working visit to the premises of emerging Dangote Refinery, Lekki, in Lagos. Key plea to the investor, ...

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FG halts oil exploration in Northern Nigeria as 48 corpses arrive UMTH

Ibe Kachikwu

The federal government on Thursday, halted further exploration and search for oil and gas in any part of the northern Nigeria including Chad Basin and Benue hydrocabon region. The announcement was made by the Minister of State for Petroleum, Dr. Ibe Kachukwu who said government will continue to review the security situation in the North East before further decision will ...

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Falling demand from EU, US forces FG to remember African oil supply market

Ibe K

Necessity experts say, is the father of not just invention and innovation but thinking locally. Over the years, the federal government had been shining in supplying crude oil to international demands surging from Europe and America. But emerging change in demand equation which shows serious drop in global demand of Nigeria’s oil is now compelling Nigeria to begin to think ...

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Kachukwu clears air, says no plan to sell, concession or abandon any refinery, but…

Refinery

After months of silence on what actually transpired between the Minister of State for Petroleum Resources and the ANI Agip group of Italy and Oando Nigeria, the Minister, Dr. Ibe kachukwu has come out to claim that “There has been no attempt, no approval to concession refineries or sell. What we have approval for is to bring financing mechanisms that ...

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FEC approves policy to make gas a hub of our economy—Kachukwu tells PENGASSAN

Ibe Kachikwu

More details have emerged on the federal government’s new drive to grow the economy suing the oil and gas sector. In his address to participants at the fifth triennial national delegates’ conference of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) , the Minister of State for Petroleum, Dr. Ibe Kachukwu said “I am just coming back ...

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Nigeria loses 27.3mb in Feb valued at N417 billion to production disruption

NNPC Headquarters.

A new report released by the Minister of State for Petroleum, Dr. Ibe Kachukwu has shown that the industry lost an accumulated 27.3 million barrels in the month of February to production disruptions arising from pipeline vandalism. Calculations based on current Brent crude oil price at $50 per barrel, further indicated that crude lost amounted to about $1.3 billion (N417 ...

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