N’Delta stakeholders’ remind FG of enforcing presidential directive on IOCs
Since the first official working tour of the Vice President, Prof Yemi Osinbajo, in oil rich Niger Delta and his presidential directive to International Oil Companies (IOCs), to move their operational head offices to production states, nothing has happened. Otherwise,…
Seplat, other indigenous oil players spend over $10.4bn acquiring divested assets
Leading drivers of Nigeria’s local content in oil and gas industry have given testimonies showing how their smartness in acquiring majority of divested infrastructures and assets by International Oil Companies (IOCs) lifted their enterprises. Business Hilights recalls that since a…
‘Only an Act’ll compel IOCs to relocate to Niger Delta, not youths’ threats, others
Contrary to feelings in some quarters that the presidential directive issued by Acting President Yemi Osibanjo during his peace tour of the Niger Delta region will compel the International Oil Companies (IOCs) to move, legal experts have argued that only…
Paucity of fund hits FG as it can’t pay IOCs $1bn in JV cash call since April
Just as the Federal Government is yet to release the celebrated N350bn, it has not still offset a total of $1.07bn in cash call required for the development of joint venture (JV) assets for the first four months of the…
Minister did the right thing the wrong way in PH refinery concession—Experts
Following the recent halt order in the concession of Port Harcourt refinery to a joint venture involving Italian energy giant, ENI and Oando, leading energy industry analysts have started looking at the matter and apportioning blame to the minister, Dr….
Tracking Now: Senate passes Part 1 of Petroleum Industry Bill (PIB) dealing on governance
The Nigerian Senate today, Thursday, May 25, 2017, passed the Petroleum Industry Governance Bill (PIGB). The part, which can be said to be among the least controversial segment of the entire bill, only seeks to reform issues of corporate governance…
How IOC’s lobbying is grounding lawmakers’ national interest in passage of PIB—-BH Report
New report released by Business Hilights Research Team (BHRT) has fingered the unseen forces apparently operating from the camp of International Oil Companies (IoCs) as the stumbling block in the passage of the Petroleum Industry Bill (PIB) at the National…
PENGASSAN flays dismissal of local staff of Exxon Mobil in place of expatriates
Incessant sack of Nigerians by International Oil Companies (IOCs) in place of expatriates which voids the spirit of Nigerian Local Content Law seems to be getting out of hand when the recent action by Exxon Mobil in the South South…
