Abuja — Nigeria’s petroleum regulator said on Tuesday it stood by its refusal to approve Exxon Mobil’s $1.28 billion sale…
Browsing: Feedback
09 February 2018, Sweetcrude, Houston, Texas – ExxonMobil Corporation said Thursday it added 2.7 billion oil-equivalent barrels of proved oil…
“NEITI is committed to working closely with the companies under the EITI framework to create good business environment that is conducive for the inflow of more foreign direct investments into the extractive sector. For this to happen we encourage all companies to embrace transparency, accountability and corporate governance in conformity with the EITI standards,” he
He said, “If the amount of empathy, concern and commitment to the people in the Niger Delta and their plight shown by the Buhari administration had been shown by past governments, there would have been no reason for agitations in the region. All that the people require and are asking for is basic development and understanding which is what the Buhari administration is offering.”
28 February 2017, Abuja – The Economic and Financial Crimes Commission has said it is still investigating a former Attorney…
North America’s crude oil import from Nigeria increased from 5.9 million barrels in October to 13.1 million barrels in November 2016. The North America countries, which include Canada, Panama and United States Atlantic Coast, imported a total of 111 million daily between January and November 2016.
He said, “The focus of the Board compliance monitoring had focused largely on the upstream sector operations of the industry, mainly because of the higher percentage spend in the sub-sector. In 2017, we have reorganised our monitoring structures and will pay much more attention to the implementation of Nigerian Content in the midstream and downstream sectors of the industry.”
“Honestly speaking, the level of mining companies compliance with the ministry’s law and regulation is very low. We have started a sensitisation programme across all the zones, educating them on why it is mandatory to adhere to our law to avoid sanctions,” he said.
The OPL 245, an oil field believed to be the largest in Africa with over nine billion barrels of crude, was said to have been fraudulently acquired from the Federal Government by Malabu Oil and Gas Limited in 1998 and afterwards offered to oil giants, Shell and Agip, in a shady shady deal.
“So, what actually we are developing is a Nigeria Flag National Fleet and in this particular instance, the model that we are working on is for private investors to bring their funds and the Federal Ministry of Transportation is a facilitator of the Nigerian fleet or the Nigerian owned National fleet or indigenous fleet.
