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NAPE Blames PIB for Drop in Investments and Stalled Projects in Nigeria’ Oil Sector

NAPE Blames PIB for Drop in Investments and Stalled Projects in...

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      …As $30bn oil sector projects await FIDExperts from the Nigeria Association of Petroleum Explorationists (NAPE) group blames PIB and have asserted that Nigeria’s...
‘Nigeria Secured Less Than 5 of Energy Investments in Africa in 5yrs’

‘Nigeria Secured Less Than 5 of Energy Investments in Africa in...

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The managing director of Total Nigeria, Mr Mike Sangster, has complained that Nigeria has only benefitted from less than five per cent of all...
Total E&P Reiterates on Risks Confronting Investors in Nigeria Oil Sector

Total E&P Reiterates on Risks Confronting Investors in Nigeria Oil Sector

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The management of Total Exploration and Production Nigeria Ltd has taken the position that despite the presence of oil and gas majors in the...
Osinbajo, Kyari, Others Meet Oil Majors Over PIB

Nigeria’s Fiscal Provisions for Gas, …One of Most Attractive in Africa...

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The Federal Government of Nigeria has said that its fiscal provisions in the Petroleum Industry Bill for gas business would be one of the...
NAPE President Commends NNPC for Intensifying Oil Search in Benue Trough

NAPE President Commends NNPC for Intensifying Oil Search in Benue Trough

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       …says search in Benue attracting attention of IOCsAn expert has confirmed that the exploration of oil in the Benue Trough by the Nigerian...
Minister says Nigerians Should be Happy to Import Petrol from Niger

Sylva Blames Lawmakers in the Delay Over PIB

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The Nigerian Minister of State for Petroleum Resources, Mr Timipre Sylva has absolved the executive arm of government from the delay trailing the Petroleum...
Minister says Nigerians Should be Happy to Import Petrol from Niger

PIB Will Lower Onshore Taxes for New Investments in Nigeria

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The Minister of Petroleum Resources, Timipre Sylva has said that the proposed Petroleum Industry Bill (PIB) should include the significant lowering on onshore taxes...
The Nigerian National Petroleum Corporation, NNPC, has launched a tender process for fuel supplies in the country. It stated that this falls under the NNPC’s direct sale-direct purchase (DSDP) mechanism. Under this system, NNPC will provide monthly crude oil free on board (FOB) cargoes to suppliers, who shall provide petroleum products in return. In the process, companies must register interest by December 22 at 12 noon for the 2020-21 DSDP process. Documents should be submitted by January 21 and NNPC will open these bids online. The products will be on a delivered at place (DAP) basis, to designated ports in Nigeria. The fuel shall be equivalent in value to the crude oil received from NNPC. Under the ongoing process, three different types of company can participate, and they are Foreign refinery owners capable of processing Nigerian crudes, with a Nigerian affiliate or subsidiary. Also, Globally established traders, with Nigerian affiliates or subsidiaries and indigenous companies working in the downstream with trading expertise are qualified to bid. The DSDP contract will run for 12 months, starting at a yet to be revealed time. Bidders must demonstrate they meet various standards, such as audited accounts and minimum turnover thresholds. They must also meet Nigerian content requirements. The NNPC began the DSDP process in 2016 and expects to continue this until 2023. The Corporation awarded the last round of DSDP contracts in August 2019 and was due to expire in September 2020. However, these 2019-20 DSDP awards were extended by six months. Around 130 companies submitted bids in 2019, with 15 winning bids accepted. These included BP, Vitol, Gunvor and Trafigura, in addition to some local companies such as Sahara Energy and MRS Oil and Gas. NNPC included its own Duke Oil unit in the list of 15.

NNPC Rules Out Equity Sale, Reduces Debts in JV with Partners...

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The Nigerian National Petroleum Corporation (NNPC) has disclosed that it won’t sell its equity in oil assets because of low oil prices and general...

New NNPC GMD, Management Team Assume Duty Today

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The new Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Mr Mele Kolo Kyari and his management team will assume duty today at the...

Nigeria cannot attain 40 billion barrels oil reserve – NAPE

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The absence of fiscal policy will continue to retard investments flow in Nigeria’s oil and gas industry, such that attainment of 40 billion crude...
NAPE

NAPE Seeks Road Map for Oil Industry at NAICE 2017

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The Nigerian Association of Petroleum Explorationists has said it will focus on a road map for the nation’s oil and gas industry at its...

NAPE Calls for Abstracts for Forthcoming Conference

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The Nigerian Association Of Petroleum Explorationists (NAPE) has called for papers ahead of its forthcoming 34th Annual International Conference & Exhibition (AICE), with the theme: ‘Nigeria...