How FG failed in its promise to unbundle NNPC, institute periodic balance sheet display
The sustained deficit financial results so far recorded by the Nigerian National Petroleum Corporation (NNPC) in the last three year may continue unabated if strategic reforms or signing into law the recently passed Petroleum Industry Governance Bill (PIGB) in law….
Oil price zooms to $75 on Saudi’s desire for international price hike
Fuel scarcity may begin from next week in major cities if… Oil prices shut up to its highest since late 2014 as U.S. crude inventories declined after indications emerged that Saudi Arabia is seeking to push oil prices higher. However,…
Can chase for foreign investors yield when policies in oil sector remain short-lived?
Globally, investors move their hard earned funds to domains where industry policies came and stay for long without summersault or changes that may destabilize investment calculations. Though the Nigerian International Petroleum Summit (NIPS) has come and gone, the way and…
Framework compelling oil majors to build refineries in Nigeria underway—Minister
Worried by observed poor investments of International Oil Companies (IOCs) in local refining sub-sector over the years, the Federal Government has revealed that fresh legal framework is being developed to compel them to invest in refining products than only production…
FG bows to impacts of failed promises, set to increase fuel pump price
Contrary to electioneering promises that this administration will reduce fuel price from N145 to N40, if voted into power in 2015, the persistent scarcity since last year due to rise in oil price has forced the government to begin a…
FG still looking for investors that can pull $2bn to revive 4 refineries—Minister
Barely one week after President Muhammadu Buahri expressed shame over the failure of the government to fix and run the four national refineries, the Minister of State for Petroleum, Dr. Ibe Kachukwu, has given a hint that government is still…
Baru’s visit to Aso Rock means Kachukwu is needless in petroleum industry
The imports of the recent official differences that ensured between the Minister of State for Petroleum Resources, Dr. Ibe Kachukwu and the GMD of Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, are still manifesting. Recall that the official response…
OPEC confident on rebalancing the global oil market
Emerging indications from the Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), Mohammad Barkindo, have shown that the joint output curb is succeeding at rebalancing the global oil market. This comes straight after OPEC raised its estimates for the…
Revealed: Kachukwu/Baru rift started in 2015—BH Investigation
…Act establishing NNPC does not recognise Minister of State in official matters A deeper inquest into the serial insubordination meted to the Minister of State for Petroleum, Dr. Ibe Kachukwu by the Group Managing Director of Nigerian National Petroleum Corporation…
Free yourself, appoint full-fledged Petroleum Minister, Sani tells PMB
More dimensions are still emerging on the recent leakage of official petition written to President Muhammadu Buhari by the Minister of State for Petroleum and Chairman of NNPC Board, Dr. Ibe Kachukwu against the excesses and official insubordination of the…
