Oil & Gas

By Bassey Udo The Petroleum Industry Act (PIA) enacted by President Muhammadu Buhari last August after almost two decades of waiting holds the key to new investments to realise the global energy transition agenda, Minister of State for Petroleum Resources, Timipre Sylva, has said. Sylva was speaking on Wednesday at…

MEDIATRACNET The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Tuesday reported a gas leak incident on the Nigerian Petroleum Development Company’s (NPDC), Well 6, in Sangama community, Bonny Local Government Area of Rivers State. The Commission Chief Executive, Gbenga Komolafe, said who issued a statement on the incident said efforts…

By Bassey Udo The Nigerian Upstream Petroleum Host Communities Development Regulations has been published in the Federal Government Gazette, the upstream petroleum industry regulator has disclosed. Five other draft regulations identified and presented by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for review during the first phase of consultations with…

By Bassey Udo

By Madeline R. Young More than one year after the enactment of Nigeria’s Petroleum Industry Act (PIA) 2021, the transformation of the oil and gas industry that the legislation was expected to herald has yet to materialise. As a point of fact, more international oil companies (IOCs) are unloading some…

By Bassey Udo Nigeria is ready for the forth coming validation of its implementation of the extractive industry transparency initiative (EITI) in the country, the Nigerian Extractive Industry Transparency Initiative (NEITI) said on Tuesday in Abuja. The transparency and accountability agency stepped up its mobilization and awareness creation efforts among…

By Bassey Udo Nigeria and the United States on Tuesday reached a bilateral agreement on the implementation of a joint initiative to tackle challenges associated with climate change and global carbon emissions. The agreement was reached in Abuja during a closed-door meeting between the U.S. Special Envoy on Climate Change,…

MEDIATRACNET The Federal Government has continued to count its losses from crude oil and pipeline vandalism, as the Nigerian National Petroleum Company (NNPC) Limited says it is losing about $700 million every month as a result of the twin menace impacting operations in the Niger Delta region. The group general…

By Bassey Udo The average daily depot truck out of premium motor spirit (PMS), popularly called petrol, between January 1 and July 31, 2022 was about 66.89 million litres and not 98 million litres, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) clarified on Friday. Truck out volumes refer…

By Bassey Udo Concerned about the growing incidence of oil theft and its impact on the country’s economy, the umbrella union of the senior workers in the country’s oil and gas industry, the Petroleum and Natural Gas Workers Association (PENGASSAN) on Thursday commenced a nationwide rally to protest the inability…