Mobil Producing Nigeria (MPN) says it has reach agreement with the federal government to renew its joint venture lease with the Nigerian National Petroleum Corporation (NNPC).
THE education sector stands to benefit from the ongoing economic growth and oil discovery, the new director of Kampala International School (KISU) has predicted.
Management of the Brass Liquefied Natural Gas (LNG) in Brass Local Government Area (LGA), Bayelsa State is to train 120 youths at the Petroleum Training Institute (PTI), while local contractors would boost their knowledge in procurement and contract execution through workshops.
Until the global economy recovers, OPEC has to make sure it does not put too much crude oil in the market because it would drive down petroleum prices, Minister of Petroleum Resources, Dr. Rilwanu Lukman has warned.
Civil society activists have piled pressure on the government to make public all agreements it has entered with companies prospecting in oil that has been discovered in the Albertine region in western Uganda.
EXECUTIVE Director of the Environmental Rights Action/Friends of the Earth, Nigeria (ERA/FoN), Mr. Nnimmo Bassey has called on the Federal Government and stakeholders in the oil industry to realise that the time had come for the nation to plan ahead in the event of the country's crude oil resource being exhausted.
The 2010 fiscal year gross federally collectible revenue is projected at N6. 211 trillion as against N5.305 trillion for the current budget year. These figures are contained in the 2010-2012 Fiscal Framework under sources of revenue with which government intends to fund its proposed expenditures and deficits.
Following the embracement of the amnesty offer by majority of the Niger-Delta militants, after years of hostility and destruction of oil facilities, the Federal Government has entered into various deals with the militants. Offer of money has been the major attraction for the militants who have submitted a major part of the massive arsenals in their possession.
We are disturbed by all this unending deregulation blues. This is where the government becomes everything to itself. It is the judge and the jury. The citizenry has no choice but to accept whatever judgment is handed down by government.
The problems of the Niger Delta are Marginalization, lack of infrastructural development and lack of political space. These problems gave rise to youth militancy. The federal Government is in a hurry to stop the militancy for each immediate gains of increased oil production but appear not to be equally eager to address the real problems of Niger Delta.
Shell's reentry into the Niger Delta has started yielding expected jumps in production figures as the oil giant prepares to reclaim its status as Nigeria's lead oil and gas producer. Shell Petroleum Development Company (SPDC) weekend declared record gas production for the nation's internal distribution grid targeted at meeting rising industrial and commercial demands in the domestic market.
The cassakero project has targeted the installation of 10,000 small scale bio-ethanol refineries in the 36 states of Nigeria including the Federal Capital Territory (FCT), over the next four years from December 2009 to December 2013 to produce the daily ethanol cooking fuel requirement for 4 million families.
The International Oil Companies (IOCs) operating in Nigeria has blamed government for poor measurement and record keeping in the country's oil and gas industry.
In a bid to stimulate the debate on Uganda's newly discovered oil and the sharing of the oil wealth, Business Vision runs a series of articles by Professor Kasozi, the director of the National Council for Higher Education. This week's article focuses on how Uganda can avoid depending on oil as a sole major export
SASOL, Statoil of Norway and US- based Chesapeake Energy have made a joint application for onshore petroleum exploration rights in SA.
Uganda is in a pole position to become one of the top 50 oil-producing countries in the world in six years, according to experts.
Ghana's enthusiastic efforts to become a major oil industry player in Africa could be short lived, as the country would only mine the 'Black Gold' for just 20 years. Furthermore, data from the World Bank and International Monetary Fund have projected that Ghana could rake a total of $ 247.44million as oil revenues in 2011, which would decline to $1,550 in 2017.
Conditions in Equatorial Guinea cast serious doubt about the credibility of the forthcoming presidential election, Human Rights Watch said today.
Pirates suspected to come from Nigeria have attacked an oil tanker off the coast of west Africa, killing a Ukrainian seaman, the commander of Benin's naval forces says.
Federal Government yesterday sought for Venezuela's investment in Nigerian's refineries as part of efforts to achieve successful deregulation in the downstream petroleum subsector.
SHELL Petroleum Development Company (SPDC) in the oil bearing areas of the Niger Delta has been charged to reject violence as an alternative to conflict resolution.
Oil marketers are raising alarm over increased threats to vessels delivering crude oil to the Kenyan coast, due to piracy.
Four days after Vice President Goodluck Jonathan promised that no Nigerian will use power generators next year, the Presidency itself proposes to spend N542.4 million in the 2010 Federal budget to purchase and fuel power generating plants.
Chairman of the Senate Committee on Gas Resourcess, Osita Izunaso, disclosed yesterday that the Petroleum Industry Bill (PIB) will be passed before the National Assembly proceeds on Christmas break next month.
As part of the national mitigation efforts to contain the impact of climate change, the Federal Government through the Nigerian National Petroleum Corporation (NNPC) said it has embarked on gas utilisation projects that would gulp a total of $12.1bn between now and 2013 with the aim of achieving alternative energy development and a low carbon economy.
