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NNPC seeks stakeholders’ collaboration on environment

Jun 11, 2013

The Nigerian National Petroleum Corporation (NNPC), Lagos Zonal Office, has called for effective collaboration among all relevant stakeholders to save the environment from degradation. Speaking when the zonal office marked this year’s World’s Environment Day, the Manager of the zonal office, Mr. James Adebola, stated that every Nigerian should ensure that the environment was preserved…

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FG grants operational licenses to seven generation companies

Jun 11, 2013

The Federal Government on Monday issued operational licences to seven electricity generation companies under the National Integrated Power Project. Each of the companies got an on-grid generation licence for Independent Power Project. The companies include Benin Generation Company Limited in Edo State, which will generate 450 megawatts of electricity; Omotosho GCL, Ondo State, 500MW; Omoku…

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Federal Government set to tackle Aturu’s deregulation suit

Jun 11, 2013

Having been caught unaware at the lower court, the federal government has fortified its legal team to challenge the decision of Justice Adamu Bello of the Federal High Court to nullify its powers to deregulate downstream sector of the oil industry. Davidson Iriekpen examines the appeal When human rights lawyer, Mr. Bamidele Aturu, filed a…

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NEITI decries the lack of accurate data on crude oil theft, vandalism

Jun 11, 2013

The Nigeria Extractive Industries Transparency Initiative on Monday faulted the absence of reliable data on the quantity of crude oil being lost to theft, bunkering and pipeline vandalism in the country. The Chairman, National Stakeholders’ Working Group, NEITI, Mr. Ledum Mitee, made the organisation’s position known to President Goodluck Jonathan when he led members of…

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Climate change threatens Vision 20:2020 – World Bank

Jun 11, 2013

World Bank, yesterday, said for Nigeria to achieve its Millennium Development Goals, MDGs, and Vision 20:20:20, it was imperative for the nation to address its climate change challenges. World Bank Country Director, Ms. Marie Marie-Nelly, noted this while speaking to journalists after presenting Nigeria Climate Change Report by World Bank in Abuja. She said the…

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Treat stolen oil like blood diamonds – Alison-Madueke

Jun 11, 2013

As thieves siphon 200,000 barrels a day in Nigeria, Petroleum Minister, Mrs. Diezani Alison-Madueke, in a recent interview said she is determined to crack down on the country’s £1billion-a-year ‘blood oil’ industry, as the well-resourced gangs are diverting some 10 per cent of the country’s oil production and channelling the money into kidnapping, piracy and…

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New laws needed to grow power sector investment

Jun 10, 2013

An energy law expert, Ayodele Oni, has called for new laws to create more incentives for investment in the “power value chain.” He stated that Nigeria needs a few new regulations on “renewable” and on other engineering standards, cabling, among others. Oni, a senior member of the bar, spoke at the presentation of his new…

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PENGASSAN propose PEF Merger with DPRA under PIB

Jun 10, 2013

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has proposed that the Petroleum Equalisation Fund (PEF) should be merged with the Downstream Petroleum Regulatory Agency (DPRA) after the passage of Petroleum Industry Bill (PIB). This position was presented to the Nigerian National Petroleum Corporation (NNPC) during one of its engagements with the…

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Lack of Investment in the Upstream Sector May Halt Nigeria’s Growth

Jun 7, 2013

A report has warned that if Nigeria’s crude oil production remains at its current level due to insufficient investments in the upstream sector, the amount of barrels available for exports will shrink, thus putting further pressure on the budget as well as economic growth. Renaissance Capital Limited (RenCap), a Lagos-based financial advisory and investment firm…

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NUPENG issues strike notice over labour issues in Nigerian oil sector

Jun 7, 2013

The Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, has issued the Federal Government a 14-day strike notice over unresolved disputes with three oil companies – Shell Petroleum Development Company, SPDC, Chevron Nigeria Limited and Nigerian Agip Oil Company. Giving the notice of strike at a press conference, Thursday, in Lagos, NUPENG President, Achese…

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