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New facts emerge on NNPC operations, record profit claim confirmed
Fresh facts emerging from the operations of the NNPC Ltd. have provided new insight into the activities of the company, affirming that the firm actually made a whopping profit of N674.1 billion in 2021.The latest facts appear to contradict some…
Fuel crisis: Signals the market is still under capture
Sopuruchi Onwuka The prevailing spar between the organized labour and the new government of President Bola Tinubu over the controversial increase in fuel prices tend to conceal a critical distortion in the market, shifting attention from market liberalization to insidious…
Subsidy removal: Regulators, players move to arrest fuel scarcity
Sopuruchi Onwuka The declaration of President Bola Tinubu that the subsidy on the retail price of premium motor spirit popularly called petrol is gone has sparked a new round of confusion in the domestic fuel market, prompting the commercial players…
NOGOF unveils N35.7 trn job outlook for oil contractors
Shell leads with $13 bn contracts MOMAN needs contractors for facility revamp Falcon calls for partnership Sopuruchi Onwuka Planned field development and enhanced oil and gas recovery projects in the Nigerian petroleum industry would enrich the domestic economy with over…
Oil investment drought: WIEN President demands enhanced participation
Sopuruchi Onwuka President of Women In Energy Network (WIEN), Mrs Funmi Ogbue, has called on government’s policy drivers in the petroleum industry to urgently dismantle all entry barriers to enhance participation and diversify investment routes into the sector. Mrs Ogbue…
‘Investment impasse, not theft, accounts for oil output fall’
Output decline to continue until NUPRC rises to duty NNPC must yield local tussle for value driven partnerships His voice commands power in the petroleum industry where he has traversed the full activity routes and provided leadership to different professional…
OML 18 operatorship: Eroton stands up to NNPC
Following the announcement by the Nigerian National Petroleum Company (NNPC) Limited of its sack as the operator of Oil Mining License (OML) 18, Eroton Exploration & Production Company, has countered that it still holds onto its role a the operator…
NNPC rescues OML 18 JV from distressed Eroton
Sopuruchi Onwuka The Nigerian National Petroleum Company (NNPC) Limited has declared transfer of operatorship role in its oil and gas exploration and production joint venture with Eroton on Oil Mining Lease (OML) 18. Following the retrieval of the operator role,…
Fuel market chaos: Major marketers demand full deregulation
NNPC siphons susbidy funds as prices escalate Sopuruchi Onwuka The group of major petroleum marketers in the country has demanded government to embark on full deregulation of the market, given the weakness of regulators in controlling price surge and subsequent…
Investors willing to stake $40 bn in gas development _OPTS
Sopuruchi Onwuka Some key players in the upstream petroleum industry have accepted to collectively shoulder some $40 billion investments in new development if the government would dismantle operational challenges that impact returns on investments. The pledge came in response to…
