Over a year after the World Bank formally withdrew (September 2008) from the social welfare portion of the Chad-Cameroon Petroleum Development Project (CCPDP), acknowledging that the goals were not going to be met,[1] the number and diversity of new analyses make now a good time to revisit the CCPDP and the lessons brought on by this 'pioneering and collaborative effort'.[2]
IT is no longer news that the Yar'Adua government can now beat its chest and claim to have chalked up some sort of achievement in an otherwise barren and arid tenure.
Ghana seems to be learning a lot of lessons from neighbouring West-African countries, including Nigeria, which are having a tough time dealing with the challenges presented them by their oil find and exploration.
Many filling stations in Lagos were yesterday closed to business owing to what some major and independent marketers called "rationing of fuel supply" by the Pipeline Products and Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC).
A number of projects proposed in the Petroleum Industry Bill (PIB), which is due for passage by the Senate this month, are under real threat as the Senate Committee on Petroleum (Downstream) has rejected the N7.5 billion in the 2010 budget for execution of the projects.
After months of uncertainty over the implementation of the 2009 budget owing to the dwindling oil prices, the Federal Government has said the global oil markets are now stable and there is no need for the Organisation of Petroleum Exporting Countries (OPEC) to supply more crude oil to the international market.
The Senate yesterday discovered irregularities, duplications and ambiguous provisions in the 2010 budget proposals of the Ministry of Petroleum Resources amounting to N10bn naira.
Since plans by government to deregulate the downstream sector of the oil industry became public knowledge, fuel marketers have intensified efforts in doing what they know how to do best: That is to hoard the product.
Government has reassured investors in the West African Gas Pipeline (WAGP) that the policy priority for domestic supply would not entail sabotage of the regional fuel grid.
The agitation for local content in the oil and gas industry recently got a boost from the House of Representatives, whose piece of legislation seems the boldest attempt to make Nigerians maximally benefit from the oil and gas endowment in the country.
Recently, the Venezuelan Ambassador to Nigeria, Enerique Fernando Arrundell, during a visit to the Minister of Information and Communications, Dora Akunyili, offered some advise to Nigerian government about how to make the huge revenue it derives from oil work for the citizens.
NIGER-DELTA peace activist, Mr. Cletus Arerebo, has commended Vanguard Newspapers, Governors Emmanuel Uduaghan and Timipre Sylva of Delta and Bayelsa States respectively for their role in the success the Federal Government has recorded so far in its amnesty programme for militants.
FORMER Group Executive Director incharge of Exploration and Production of Nigeria National Petroleum Corporation (NNPC), Dr. Chris Ogiemwonyi, has urged the Federal Government to speed up the proposed reforms in the oil industry to strengthen the NNPC for better productivity.
THE Itsekiri nation has been charged to design strategies to cash in on the 10% equity share of the oil and gas industry and the yet-to-be signed Petroleum Industry Bill as part of amnesty deal.
Delegations from Africa Oil and Range Resource have held talks with the representative of Somalia's Puntland state in the administrative capital of Garowe, where they discussed the amendment of an oil exploration accord.
The chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Engr. Hamman Tukur, yesterday raised an alarm over the joint venture (JV) entered between the Federal Government and multinationals, declaring that Nigeria was being ripped off of billions of naira by foreign companies.
Plateau State governor, Da Jonah Jang, has frowned on the manner in which the Federal Government handled the issue of the 26 mercenaries arrested during the November 2008 crisis, saying the state does not know the outcome of investigation into the case in Abuja.
Despite the return of peace in the oil industry hub of Niger Delta following government's amnesty packages, illegal crude oil exports continues unabated in the region, causing production deficits and revenue loss.
Sirius Petroleum Plc reported that it has identified its first marginal oil field opportunity in Nigeria, through a strategic partnership under a letter of intent (LoI) with indigenous Frontier Oil Ltd.
The Federal Government's plan to revamp oil/gas sector could stall if oil reform bill does not pass by early next year, a scenario which some oil firms fear will further delay investment decisions in the country.
Following the reentry of its key gas suppliers to their respective production sites, the Nigerian Liquefied Natural Gas (NLNG) Limited says would ramp up output by next year when gas supply from Shell's Soku gas plant is expected to witness upbeat in activity.
Chevron Nigeria Limited gas called on fellow oil firms in the country to step up implementation of the local content development policy of the government by initiating processes and programs that would sustain growth in capabilities within the industry.
ONGC Videsh Ltd, the overseas arm of India's state-run oil exploration major Oil and Natural Gas Corp (ONGC), is planning to set up a greenfield refinery in Nigeria.
The Nigeria National Petroleum Corporation (NNPC) did not lodge the sum of N300bn in oil revenue into the nation's coffers in the last four months, a document from the Federation Account Allocation Committee (FAAC) indicates.
The man who got Shs 250 billion from selling Uganda's oil has a 'deal with him at your own risk' tag in financial circles
