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ABUJA — The Department of Petroleum Resources (DPR), in Abuja, on Thursday, sealed 11 illegal gas plants and two filling stations over sharp practices. The News Agency of Nigeria reports that the Liquified Petroleum Gas (LPG) — also known as cooking gas — plants and the filling stations visited are located in Karimo, Gwagwa, Games Village Kuje, and Gwagwalada. The LPG operators were said to be operating illegally, while the two petrol stations were sealed...

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OWERRI — The people of the Imo State, particularly commuters and motorists were thrown into frustration and a standstill on Wednesday as the state chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN) embarked on strike. The public was cut unaware of the strike, this expectedly led to a hike in transport fares by the few commercial vehicles and motorcycle operators on the roads. They increased fares above 50 percent from the normal fares....

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LAGOS –– The Imo State Governor, Hope Uzodinma, has said that the signing of the Petroleum Industry Bill 2021 into law will address environmental hazards such as oil spillage. The governor while appearing on Channels Television’s ‘Politics Today’ on Tuesday said “All the hazards that follow the production of oil, mostly environmental hazards, are as a result of the absence of regulatory environments.” “These laws when put in place, will not only regulate the environment...

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ABUJA — Nigerian Minister of State for Petroleum Resources, Timipre Sylva, on Tuesday said the Nigerian National Petroleum Corporation (NNPC) will become a commercial company within six months. The Minister’s declaration followed the signing of the Petroleum Industry Bill into law by President Muhammadu Buhari on Monday. Sylva spoke at a press conference in Abuja, saying that a transitional committee was already in place to incorporate NNPC into a Limited company. All shares in NNPC...

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ABUJA –  A Federal High Court sitting in Abuja has ordered Shell Petroleum Company to pay the sum of N45.9 billion to the Ogoni people in Rivers State. Justice Ahmed Mohammed who gave the order on Wednesday held that the money must be paid within 21 days. The sum is a cost awarded against the company several years ago for oil spillage in Ogoniland. In his submission, Counsel to Shell Petroleum Company, Aham Ejelamo, informed...

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ABUJA — The Federal Executive Council (FEC) on Wednesday approved contracts for the rehabilitation of Warri and Kaduna refineries at a sum total of $1.4 billion. The breakdown of the rehabilitation showed that $897 million will go for the Warri refinery and $586 million for the Kaduna refinery. The Minister of state for petroleum revealed this to State House correspondents after the Federal Executive Council meeting, which was chaired by Vice President Yemi Osinbajo. The...

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ABUJA — A former Governor of Bayelsa State, Seriake Dickson, has called on President Muhammadu Buhari to withhold his assent to the Petroleum Industry Bill that was recently passed by the National Assembly. The Senator representing Bayelsa West Senatorial District in the National Assembly said there was the need to review the proposed legislation to accommodate the five percent allocation to the host communities. Dickson made this position known on Thursday while addressing journalists in...

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Nigeria lost an estimated N53.26bn in the first two months of this year as international oil companies and local players flared a total of 33.04 billion standard cubic feet of natural gas. The NNPC, in its latest monthly report, said out of the 206.05 billion scf produced in February, a total of 133.06 billion scf was commercialised, consisting of 40.15 billion scf and 92.91 billion scf for the domestic and export market respectively. The oil...

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ABUJA — The Director of Information in the National Assembly, Rawlings Agada, has disclosed that the National Assembly will not transmit the Petroleum Industry Bill (PIB) that was recently passed to President Muhammadu Buhari in a hurry. Agada explained on Tuesday while responding to the question on when the Clark of the Federal Parliament, Olatunde Ojo, would transmit the document to the Executive for assent. He maintained that the legislature had to exercise great restraint...

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The Organisation of Petroleum Exporting Countries and its allies known as OPEC+ have decided to boost oil production by 400,000 barrels per day. The group reached this agreement at the 19th OPEC and non-OPEC ministerial meeting on Sunday. In June, OPEC+ had agreed to increase output in July, in line with the group’s April decision to return 2.1 million barrels per day to the market between May and July. However, the deal which was meant...

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