Over half of nation’s daily oil production lost to militancy—Minister
Contrary to speculations that attacks on oil installations have waned, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has traced loss of more than 54 per cent of crude oil to attacks and pipeline vandalism in oil communities….
FG to further crash oil production cost from $23 to $15 per barrel –Minister
…Says only 2 out of 40 refinery licencees serious Whereas stakeholders’ in Nigeria’s oil and gas sector have continued to have reservations on the authenticity of oil production statistics being churned out by officials of the ministry of petroleum from…
NASS summons Minister over collapse of refurbished refineries 6 months after
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…
‘Stubbornly high cost of oil production forcing FG to rest exploration’ –Minister
“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…
Oil sector in dilemma as wait for Buhari hangs marginal fields licencing
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…
Kachukwu opens up, agrees falling oil price’ll hit 2017 budget bad
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…
Minister silent on income from sales of N3.4tn products imported in 2016
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…
Nigeria’ll continue to import petrol in 2019 and Kachikwu’ll not resign, says analysts
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…
Conversion of illegal refineries to modular may worsen environmental crisis in N/Delta if…
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…
Danger looms as NNPC gives signal showing tired of importing Petrol alone
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….
