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OIL AND GAS

PIB to get final push by PDP administration

PIB to get final push by PDP administration 0

🕔00:38, 21.Apr 2015

The Peoples Democratic Party (PDP)-led National Assembly is allegedly in talks with the leadership of the Assembly to ensure that the Petroleum Industry Bill (PIB) is passed before June 4, 2015 when a new legislative body will be inaugurated. According

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Chad Basin exploration suffers setback

Chad Basin exploration suffers setback 0

🕔00:33, 21.Apr 2015

Four months after the Federal Government said it was going to intensify the search for oil in the Chad Basin in 2015, nothing has yet to happen in this regard, according to a report by The Punch. In the face

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Experts expect redrafting of PIB with new administration

Experts expect redrafting of PIB with new administration 0

🕔00:31, 21.Apr 2015

International oil experts expect to see a redrafting of the Petroleum Industry Bill (PIB) by the new government of Muhammadu Buhari because the current bill is heavily skewed against the Northern part of the country, Daily Trust reports. Oil analysts

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FG states conditions for sale of shares in Transcorp, DISCOs, GENCOs to public

FG states conditions for sale of shares in Transcorp, DISCOs, GENCOs to public 0

🕔00:28, 21.Apr 2015

The Director General of the Bureau for Public Enterprises (BPE) Mr. Benjamin Dikki has said that the divestment of some government interests in businesses to private investors will depend on the profitability of such businesses in the long run, The

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Long term petroleum supply threatened by NNPC debt owed to traders

Long term petroleum supply threatened by NNPC debt owed to traders 0

🕔00:25, 21.Apr 2015

The inability of the Nigerian National Petroleum Corporation (NNPC) to liquidate an over $1.5 billion debt owed local and international oil traders involved in the importation of petroleum products on behalf of the corporation has raised concern over the long-term sustainability

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CBN Governor proposes sale of JVs with IOCs

CBN Governor proposes sale of JVs with IOCs 0

🕔00:22, 21.Apr 2015

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has proposed that the incoming government to be led by Major-General Muhammadu Buhari (rtd) consider selling down its majority stakes in joint ventures with multinational oil companies to

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Buhari’s oil policy likely to focus on structural reforms first, taxes last – APC

Buhari’s oil policy likely to focus on structural reforms first, taxes last – APC 0

🕔00:12, 21.Apr 2015

Nigeria’s president elect Muhammadu Buhari’s priorities for the oil sector may be focused on ending corruption and reforming the opaque national oil company as opposed to fiscal related issues, All Progressives Congress (APC) sources have confirmed to Reuters. Senator Bukola Saraki,

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World Bank supports Buhari’s probe of NNPC

World Bank supports Buhari’s probe of NNPC 0

🕔00:03, 21.Apr 2015

The World Bank has declared its support for President-elect, General Muhammadu Buhari for the probe of the Nigerian National Petroleum Corporation (NNPC) over allegations of missing funds. This was disclosed by top officials of the bank during a video conferencing

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Shell pays $48bn to FG in five years

Shell pays $48bn to FG in five years 0

🕔00:00, 21.Apr 2015

Royal Dutch Shell Plc, the parent company of Shell Petroleum Development Company of Nigeria Limited (SPDC) has said that its subsidiaries paid a total of $48bn (N9.46tn) in royalties and taxes to the Federal Government from 2010 to 2014, The Punch

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Fuel importation drops post elections, as scarcity bites harder

Fuel importation drops post elections, as scarcity bites harder 0

🕔23:58, 20.Apr 2015

The rate of importation of Premium Motor Spirit (PMS), otherwise called petrol, to West Africa from Europe has slowed down as demand dropped after Nigeria’s presidential election. The effect has been mostly felt in the Nigeria’s capital, Abuja, and its

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