Fresh indices point to chances of selling nonperforming refineries by NNPC
The growing show of poor performance by refurbished refineries has become a leeway for the Nigerian National Petroleum Corporation (NNPC) to continue to press for their sales to private operators. Latest monthly oil and gas sector report has shown that…
Why FG introduced N61bn local content intervention fund
The Minister of State for Petroleum Resources, Dr. Ibe Kachukwu has explained that the key target of the inauguration of $200m, about N620bn local content intervention fund, saying the Federal Government bought the idea to grow activities of local investors…
Conflicting statistics trending in Nigeria’s oil exploration, production worrisome
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…
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…
Dangote refinery has capacity for 70% of local demand, end imports from 2019—Ikeji
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…
Why we are building world largest single line refinery in Lekki—Dangote
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…
Breaking: Minister tours Dangote refinery, Lekki, seeks early completion
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…
FG halts oil exploration in Northern Nigeria as 48 corpses arrive UMTH
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….
Falling demand from EU, US forces FG to remember African oil supply market
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…
Kachukwu clears air, says no plan to sell, concession or abandon any refinery, but…
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…
