Emerging stability in oil output may force Nigeria, Libya back to OPEC cut bracket
Though the Organisation of Petroleum Producing Countries (OPEC) failed to include a clause that if stability returns to exempted producing nations and their output rises to normalcy, they should join the cut basket; indications are rife that Nigeria may soon…
Danger as oil production falls to 1.2 million barrels, 1mbpd shot of 2017 budget anchor
If something fast is not done to raise Nigerian oil output to the 2017 budget specification of 2.2 million barrels per day (mbpd), indications are rife that the budget may start early deficit financing. Analysts say when expected revenue target…
FG tightens conditions for oil import licence, says debtor oil marketers barred henceforth
As part of new efforts to drive in sanity into the petroleum products import and marketing, the Federal Government has come up with new policy, saying it would no longer issue petroleum product import licences to oil marketers who failed…
FG begins payment of $5.1b cash calls to IoCs this month to grow activities
The Minister of State for Petroleum Resources, Ibe Kachikwu has weekend gave an indication that Federal Government will begin payment of $5.1 billion joint venture cash calls to International Oil Companies (IoCs) from this month, April 2017. Explaining more in…
Comparative advantage driven development policy for Niger Delta states coming—FG
Rather than clouding and generalizing development projects in oil states, the federal government is set to come up with a new approach for sustainable peace in the troubled Niger Delta region. Just as the move is to deepen production harmony…
