Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, who is also the chairman, Governing Council, Nigerian Content Development & Monitoring Board (NCDMB), has said the inability of Nigerian oil firms to access funds from banks, at reasonable lending rates, necessitated the approval to disburse $200 million to such firms from the Nigerian Content […]
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Nigeria’s Minister of State, Petroleum Resources, Dr. Ibe Kachikwu, has given assurance that the pump price of Premium Motor Spirit (PMS), otherwise known as petroleum will crash from the current ₦145/litre within four to six months. Kachikwu who made the prediction in a podcast message to mark his two years in office, did not give […]
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Nigeria’s average oil production including condensates, increased to 2.06 million barrels per day (mb/d) last month, from 2.05 million b/d in June, as the country continued to ramp up production amidst retention of output concession from the Organisation of Petroleum Exporting Countries (OPEC), the Ministry of Petroleum Resources has revealed. Though the increase appeared marginal, […]
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Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has urged the Dangote Group to expedite work on its crude oil refinery to enable it to come on stream before the end of 2019. Kachikwu stated this on Monday in Lagos during his visit to the site of the Dangote refinery. Earlier, the President/Chief Executive, […]
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The Federal Executive Council presided over by Acting President Yemi Osinbajo, on Wednesday, approved the Nigerian Petroleum Policy, which is aimed at improving efficiency in the oil industry. The Minister of State for Petroleum Resources, Ibe Kachikwu, disclosed this to State House correspondents at the end of the council’s meeting inside the Presidential Villa, Abuja. […]
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The Federal Government yesterday said that there was no arrangement to concession the Port Harcourt Refinery. The government also revealed that the planned revamping of the refinery would cost the country about $300 million. Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, made the disclosure at a sitting of the Senate Ad-hoc Committee on […]
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Nigeria’s oil production, which hit 2.05 million barrels per day (mbpd) in June may suffer further decline that could threaten the 2017 budget as the Organisation of Petroleum Exporting Countries (OPEC) has invited Nigeria for briefing on its production plan. Minister of Petroleum Resources, Mr. Ibe Kachikwu, was invited to attend the OPEC and non-OPEC […]
Read More Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has vowed to resign if the country fails to attain self-sufficiency in the refining of petroleum products by 2019. Kachikwu, who spoke as a guest on BBC Hard Talk in London on Monday, also stated that he recently signed an agreement with the international oil giant, […]
Read More Nigeria Minister of State for Petroleum Resources, Dr Ibe Kachikwu, says that President Muhammadu Buhari is still working from London where he is currently receiving medical treatment. Kachikwu, who put up a strong defence for Nigeria’s sick President during a BBC Hard Talk interview in London on Monday, also stated that Buhari had mandated his […]
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The nation Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has reiterated Federal Government’s resolve to reduce importation of petroleum products from the present 95 per cent to 60 per cent by 2018. Kachikwu stated this at the Rainoil 20th Anniversary Lecture organised by the company in Lagos on Wednesday. The theme of the […]
Read More Nigeria witnessed no pipeline vandalism arising from militant activities in the Niger Delta in the past three months, the Federal Government said on Wednesday. It stated that the near zero rupturing of pipelines in the oil rich region was mainly due to the consultations and ongoing discussions with Niger Delta stakeholders. The Minister of State […]
Read More The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has said that state-owned refineries would get new investors in September, this year. Kachikwu made this known at a news conference on the sideline of the 2017 Offshore Technology Conference (OTC) in Houston, U.S. on Wednesday. He listed the refineries as Port Harcourt Refining Company […]
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