The Nigeria crude oil production fell from a total two million barrels per day to as low as 1.27 million bpd amid the shutdown of two major export grades. The country produced 1.269 million bpd last month, according to direct communication with the Organisation of Petroleum Exporting Countries. The 13-member oil cartel, in its newly released monthly […]
Read More
The Federal Government is pushing to end the era of Joint Venture (JV) Cash Calls with oil majors by next year, the Minister of State, Petroleum Resources, Dr. Ibe Kachikwu, has said. Kachikwu, who stated this while briefing State House correspondents after making a presentation to the National Economic Council (NEC) meeting, yesterday, said the […]
Read More
Four major refineries belonging to the Nigerian Government may end up as scrap once the Dangote Group commence the production of crude oil at its refinery in Lagos by 2019, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said. According to him, if the country fails to take urgent steps to revamp the refineries […]
Read More Nigeria Minister of State, Petroleum Resources, Dr. Ibe Kachikwu, yesterday said the ministry will next week present the Draft National Oil Policy to the Federal Executive Council (FEC). The Senior Technical Adviser to Kachikwu, Gbite Adeniji, who made this known at the ongoing stakeholders’ consultation forum on the draft National Gas Policy and National Oil Policy, […]
Read More
Nigeria Federal Government launched a $10 billion infrastructure programme on Thursday in its restive Delta region as part of a plan to end an insurgency that has hobbled oil production. President Muhammadu Buhari will meet representatives of militant groups and community leaders from the Niger Delta in Abuja next week in a bid to end […]
Read More Niger Delta coastal state monarchs have urged the Federal Government to urgently constitute a dialogue team to ensure continuous peace in the Niger Delta The Monarchs made the request in Abuja when they called on the Minister of State Petroleum Resources, Ibe Kachikwu. The Niger Delta Region has witnessed increased activities of militants which has […]
Read More Nigeria’s crude oil production has fallen by almost 40 per cent to 1.4 million barrels per day due to militant attacks on facilities in the Niger Delta. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, stated this on Monday while addressing members of the House of Representatives, who summoned him to explain why […]
Read More
Labour yesterday got more pleas to pull the brakes on its plan for a strike over the fuel price hike. Petrol price went up last Wednesday from N86.50 per litre to N145. A decision, which the Federal Government said will save it from picking a N1trillion subsidy bill, ensure availability of petrol and create jobs. According to The […]
Read More The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said Nigerians will be amazed at what will become of the price of Premium Motor Spirit in the next six months. The Federal Government had on Wednesday announced the removal of fuel subsidy, with a new petrol price band of N135 to N145 per litre, […]
Read More
The restructuring at the Nigerian National Petroleum Corporation has not ended but is ongoing, the Minister of State for Petroleum Resources and Group Managing Director of the oil firm, Dr. Ibe Kachikwu, has said. According to Kachikwu, the restructuring is not only at the national oil firm, but will also affect other agencies and parastatals […]
Read More As the scarcity of Premium Motor Spirit continues to take a toll on motorists and other consumers in most parts of the country, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on Monday said the trucks conveying the product were being diverted to Cameroon and Chad. The Minister, who stated this in Lagos at […]
Read More The Minister of State for Petroleum Resources and Group Managing Director, Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, has announced that the Port Harcourt Refining Company and the Warri Refining and Petrochemical Company are now producing a combined volume of seven million litres of petrol daily. According to him, the PHRC now produces five million […]
Read More
