Petroleum
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Oil and gas giant BP has again slashed its renewable energy investment and announced more funding for greater fossil fuel production. In a further row back of climate targets the company has said renewable energy investment will fall by $5bn (£3.95bn) a year to just $1bn to $2bn (£790m to £1.58bn). Less than half that…
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The Resource Centre for Human Rights and Civic Education (CHRICED) has called on President Bola Ahmed Tinubu to relinquish his position as the Minister of Petroleum. The organization argued that the role should be occupied by a qualified expert who can drive much-needed reforms in the sector. This was contained in a press statement issued…
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The Federal Ministry of Petroleum Resources and stakeholders in the oil and gas sector have raised concerns about the need to implement the 2021 Petroleum Industry Act (PIA) for economic growth. Nicholas Ella, Permanent Secretary of the Ministry of Petroleum Resources, alongside other stakeholders, made the call at a one-day stakeholders’ engagement on “Harnessing the…
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The long walk to solving Nigeria’s oil and gas crisis took a fresh twist on Thursday, when the Vice President of Dangote Industries Limited, Devakumar Edwin accused local petroleum marketers of boycotting Dangote Refinery’s petrol despite offering lower prices. Edwin speaking during an X space session organised by Nairametric on Thursday said only 3 percent…
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The Minister of State for Petroleum Resources, Senator Heineken Lokbobiri, says Nigeria remains the leading oil and gas producer in Africa, ahead of the likes of Angola and other oil producing countries on the continent. Mr. Lokpobiri, while giving an update on the achievements of his ministry, noted that in the past year, President Tinubu…
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The Management of the Nigerian National Petroleum Company Limited (NNPCL) says the rehabilitation of the Kaduna Refining and Petrochemicals Company (KRPC) will be completed by the end of 2024 after years of being shut down due to lack of maintenance. The Managing Director of KRPC, Mustafa Sugungun, disclosed this on Monday during an oversight visit…
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