A high-powered delegation from South Africa is today expected in Zimbabwe to meet Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere over proposals to dispose of BP and Shell's assets in the country.
President Umaru Musa Yar'Adua said yesterday that there was no going back on the planned deregulation of the downstream sector of the petroleum industry.
Houston-based ERHC has declared intention to enter its concession to drill five oil wells in the Nigeria-Sao Tome and Principe Joint Development Zone (JDZ) over the coming months after a lengthy delay caused by a shortage of deepwater rigs.
After months of disengagement from Brass LNG Limited, American oil giant and major player in Nigeria's oil and gas sector, Chevron Nigeria Limited, Friday re-joined the project as a gas supplier of Nigeria's second LNG firm, in what industry watchers say is a huge boost to the federal government's post-amnesty programme in the Niger Delta.
Former Ghanaian President, John Kuffour, said yesterday that his country was learning fast from Nigeria's experience to ensure that oil did not become a curse to Ghana.
There are regrettable flaws in recent government moves to deregulate the downstream oil sector. The cost to the nation is equally regrettable. When on October 10, Mr. Aminu Babakusa, the Group Executive Director, Commercial and Investment of Nigerian National Petroleum Corporation (NNPC), announced November 1, 2009 as the date for commencement of the full deregulation of the sector, he could only ...
Since the advent of oil boom in Nigeria, governments have been lax in collecting taxes from citizens, corporate bodies and organisations to fund their programmes.
"If we hadn't discovered oil, we would have been better off today. Once we had oil, our agriculture sector collapsed. Oil has made us lazy .We have become corrupted" - Former Minister of State for Finance in Nigeria, Mrs. Nedadi Usman (Credit - Jonathan Power: The perils of African oil, 2004)
Ghana's jubilee fields will start pouring oil in commercial quantities in the last quarter of 2010, but Ghana could end up with a paltry 14% stake in the fields if it fails to stall the Exxon, Kosmos deal.
The verdict passed on the management of the Nigerian National Petroleum Corporation (NNPC) and its subsidiary, the Petroleum and Pipelines Marketing Company (PPMC) by the House of Representatives at the its inquest into the allegation of sharp practices in the award and execution of fuel import contracts has been described as a charade by the Trade Union Congress[TUC]
We have proved over and over again that we are a nation that does not plan for tomorrow. Since 1990, the Nigeria economy has expanded and the population has grown, but it is now clear to all discerning observers that our successive governments have failed to plan for our future.
Over 150 manufacturing companies in Lagos will today stop production because gas supply to their factories has been suspended by the Gaslink Limited, the Director-General of the Manufacturers Association of Nigeria has said.
THE Anti-Corruption Commission (ACC) has seized the computer of Namibia's Petroleum Commissioner, Immanuel Mulunga, following a fight over the shareholding in an exclusive exploration licence (EPL) for coal methane gas involving Usuta Imbili, daughter of the Founding President, businessman Sacky Nujoma and Mntu Nduvane, former managing director of Total Namibia.
Angola's contention for the position of Africa's leading petroleum resource producer gained more points weekend when the country's reserves capacity received a boost with a deepwater hit.
Top government officials in charge of the oil industry refused yesterday to say when the full deregulation policy of the downstream oil sector will take place, saying they were still in consultations to try to build a national consensus around the policy.
