The discovery of oil reserves in Uganda, Kenya's determination to locate and exploit its oil reserves and the impressive mineral wealth of Tanzania, all point to a prosperous future for the region.
The Trade Union Congress (TUC) has faulted various provisions of the 2010 budget for perceived inadequacies for various sectors which are in dire need of over-hauling to save the nation's economy, and develop its human capital.
Illegal fuel hawkers still operate in Kano metropolis in defiance of the state government's ban on the sale of petroleum products on the streets.The state government recently banned the sale of petroleum products outside filling stations following accidents caused by fuel hawking.Hawkers, many of whom were secondary school leavers, were sighted displaying their kegs of petrol and diesel in the ...
Nigeria is currently producing between 1.8m and 1.85m barrels per day (bpd) of crude oil plus 600,000 bpd of condensate, the minister of state for petroleum Odein Ajumogobia said yesterday.
The Federal Government has said that any attempt at stopping gas flaring through legislation now will lead to very unpleasant circumstances, which the nation can hardly cope with.
The National Assembly has said the Petroleum Industry Bill (PIB) cannot succeed without a well-regulated local content environment and has hinted that the Local Content Bill will be passed into law before the PIB in order to achieve a better regulated and growth-oriented petroleum industry.
Henceforth, only rated insurance companies will be considered for oil and gas insurance businesses, as part of an agreement between the Federal Government and multi-national oil companies.
ENVIRONMENTAL Rights Action/Friends of the Earth Nigeria (ERA/FoEN) has challenged Shell Petroleum Development Company (SPDC) to admit to allegations of polluting the Niger Delta environment and stop shifting blames.
Federal High Court, Abuja, has fixed January 19, 2010 for judgment in the case of the transfer of 76 oil wells from Cross River State to Akwa Ibom State.
Governor Sullivan Chime of Enugu State yesterday urged the federal government to find ways of diversifying the nation's economy, insisting that the current dependence on oil by all the various tiers of government might spell doom for the country, especially in the ongoing efforts to realise the Millennium Development Goals.
CLERK of the National Assembly has been told to immediately make available to Nigerians and other stake holders in the oil and gas sector, the true copy of the Petroleum Industry Bill before the House.
Motorists face a fuel shortage in the run up to the Christmas festivities as a standoff between the Energy ministry and Kenya Shell stalls the offloading of imported diesel from a cargo vessel.
French oil firm, Total, will close down and sell its service stations in Zambia, because they are non-profitable, the firm says.
VENEZUELAN Ambassador to Nigeria, Enerique Fernando Arrundell, could not have offered his advice on Nigeria's management of its petroleum resources at a better time. The anchor of government's argument is that higher prices would draw foreign investors to the downstream sector of the industry.
Zanzibar is back on the national and international agenda. Of course it has always been on the agenda. But it's a long time since it was such a mysterious agenda.
Dominion Petroleum, one of the four firms exploring for oil in Uganda, has said a group of "quality" global oil giants are interested in taking up a share of its oil block in the western region.
UGANDA is to send oil technicians to Cuba, a country which has been successful in oil and gas production, for training.
The cessation of armed agitation in the Niger Delta as a result of President Umaru Musa Yar'adua's Amnesty Initiative is an achievement that has not been sufficiently appreciated. Add that to Yar'adua's states-manly gesture of granting ten percent equity in the oil business in Nigeria to the Niger Delta.
HOST Communities of Nigeria, Oil and Gas (HOSTCON), has urged the Federal Government not to transmit the recently endorsed 10 per cent royalty to host communities through the state governments.
The Government of Ghana announced in its 2010 Budget and Policy Statement the plan to develop an Oil and Gas Industrialization Plan as a sustainable model of managing her petroleum resources. The oil and gas driven industrialization is expected to make Ghana's oil a blessing. For this reason, the government plans to use oil and gas resources to boost the manufacturing and agricultural sectors, ...
The Nigeria National Petroleum Corporation (NNPC) has said that it has already commenced with its new retail plan to partner with independent and private filling station owners within the country where it will take over the stations in order to sustain steady fuel supply.
Nigeria earns N900 billion from Bonga oil field in the past four years, Managing Director of Shell Nigeria Exploration and Production Company Chike Onyejekwe has said.
The Managing Director of Shell Nigerian Exploration and Production Company, (SNEPCo), Mr Chike Onyejekwe has disclosed that Nigeria earned over N900 billion from Bonga oil field in the last four years.
PETROLEUM company Total SA is considering laying off about 10%, or 80, of its employees as part of its restructuring programme.
A scathing new report issued by the London-based environment and governance watchdog Platform has put government and oil companies under fire. Revealing for the first time one of the production sharing agreements (PSAs) between Heritage and the government, Platform's analysis reveals that, contrary to oil company and government executives' claims that the state would get up to 80% of oil revenues, ...
