Oil & Gas - Abia ThinkTank News

Dec

2023

Jubilation As Port Harcourt Refinery Commence Operation

Nationwide Jubilation As Portharcourt Refinery Commences Operation The Port Harcourt Refining Company, PHRC, Limited, with a combined capacity of 210,000 barrels per day, commenced operation on Wednesday. According to a video sighted by our correspondent, the refinery’s flare indicated the commencement of oil refining. The development comes months after the Minister of State for Petroleum (Oil) Senator Heineken Lokpobiri said in August that the Port Harcourt refinery will commence operation in December 2023. According to the Minister, the objective is to ensure the country stops importing fuel. Corroborating Lokpobiri’s stance, the Nigerian National Petroleum Corporation Limited, NNPCL, declared that importing…

Dec

2023

0 Comments

By Abia ThinkTank

Refineries Not Created To Reduce Petrol Price – NNPC Boss Kyari Clarifies To Senate Committee

Columns/Opinions/Letters, News Flash, Oil & Gas

Refineries Not Created To Reduce Petrol Price – NNPC Boss Kyari Clarifies The Nigerian National Petroleum Company (NNPC) Limited Group Chief Executive Officer (GCEO) Mele Kyari has clarified that the primary goal of rehabilitating the nation’s refineries is not to reduce petrol prices. The NNPP boss made the comment while appearing before a joint Senate committee. Mr. Kyari’s statement comes in response to questioning by the committee, particularly regarding the potential impact of functional refineries on petrol prices. While acknowledging the possibility of a price decrease, he stressed that this was not the main objective. Kyari further said the NNPC…

Nov

2023

0 Comments

By Abia ThinkTank

Tinubu Presents N27 Trillion Budget Size, Reconstitutes NNPC Board Management

News Flash, Oil & Gas, Politics, Presidency

Tinubu Proposes N27 Trillion Budget Size, Reconstitutes NNPC Board, Management Without N’Deltan At The Helm TinubuExpectedly, President Bola Tinubu will be presenting the country's highest budget proposal since the return of civil rule in 1999, to the National Assembly for legislative action this Wednesday. The Tinubu administration is proposing a budget size of N27 trillion for the 2024 fiscal year. Disturbingly, the president does not seem to find the Niger Delta, the oil and gas region that is still contributing more than 80 percent of Nigeria's earnings fit enough to head the state oil corporation, Nigerian National Petroleum Company (NNPC)…

Nov

2023

0 Comments

By Abia ThinkTank

Excitement As FGN Moves To Crash Cooking Gas Price

News Flash, Oil & Gas, Presidency

Excitement As FG Moves To Crash Cooking Gas Price The Federal Government has initiated a process to resolve challenges bordering on the supply and pricing of Liquefied Petroleum Gas in the country’s domestic market better known as cooking gas. A statement by Louis Ibah, spokesman for the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, said the minister waded into the issue following a rise in the price of LPG per kg from about N700 to above N1,100 in some parts of the country. He said the meeting, at the instance of the minister, which was held at the NNPC…

Nov

2023

0 Comments

By Abia ThinkTank

Senate Vows To Sack, Jail NNPC Boss Mele Kyari, Others Over N12 Trillion ‘Fraud’

National Assembly, News Flash, Oil & Gas

Senate Vows To Sack, Jail NNPC Boss Mele Kyari, Others Over N12 Trillion ‘Fraud’ The Senate has vowed to sack and jail the group managing director of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari and other top executive officers of petroleum subsidiaries. The upper legislative chamber specifically threatened to sack the executive officers whose agencies were involved in the Turn Around Maitenance (TAM) projects of refineries in the country. The senate, on Wednesday, noted that from 2010 till date, over N12 trillion has been spent on TAM. The Senate also said that it has records of over $592…

Nov

2023

0 Comments

By Abia ThinkTank

Jubilation As Refinery Finally Commences Operation In Nigeria, Produces Over 600M Litres

Business, News Flash, Oil & Gas

Jubilation As A Refinery Finally Commences Operation In Nigeria, Produces Over 600M Litres A refinery located in Imo state has commenced operation in the country to contribute to solving the problem facing over 200million citizens. The refinery, located in Imo State, is already producing over 600 million litres of various products and dispatching 20 trucks daily. The federal government of Nigeria has praised the Waltersmith Modular Refinery for its contribution to meeting Nigeria’s energy needs at a crucial stage. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, who visited the refinery, stated that he was “very proud” of…

Nov

2023

0 Comments

By Abia ThinkTank

FIRS Demands Tax Compliance By Crude Lifting Shipping Firms

Business, News Flash, Oil & Gas

FIRS Demands Tax Compliance By Crude Lifting Shipping Firms The Chairman, Federal Inland Revenue Service (FIRS), Zacch Adedeji, has charged non-domestic companies shipping crude oil from Nigeria to ensure strict compliance with the country’s tax laws in their operations. Adedeji gave the charge in Lagos at a workshop on taxation of non-resident shipping companies organised by the FIRS in conjunction with Oil Producers Trade Section (OPTS) on Monday. He said the tax compliance exercise commenced by FIRS on the activities of foreign shipping companies lifting hydrocarbons from Nigeria was part of measures aimed at widening the tax net in order…

Nov

2023

0 Comments

By Abia ThinkTank

Saudi Arabia Through Its State Owned Oil Company, Aramco Will Help Nigeria Revamp Our Oil Refineries – Presidency

Economy, News Flash, Oil & Gas

💥BOOM After A Successful Outing In Saudi Arabia, President Tinubu Returns To Africa. President Tinubu Went To Riyadh For Serious Business. ●President Tinubu Sealed Investment Deals With The Saudis In Agriculture, Oil And Gas , Electricity, Telecommunications And Technology Sectors. ●Saudi Arabia Through Its State Owned Oil Company, Aramco Will Help Nigeria Revamp Our Oil Refineries . ●Saudi Arabia Also Pledged To Help Nigeria Strengthen The Naira And Support Food Security In Nigeria. SPECIAL ADVERT PROMO FOR 2023 IGBA-OTOMU, IGBA-UCHE, IGBA-EKPE, IZU-UCHE, IGBOTONMA AND IZA-AFA This is a special promo designed for our brothers, sisters, mothers, fathers etc who are…

Nov

2023

0 Comments

By Abia ThinkTank

Good News For Nigeria As Masters Energy Oil And Gas Commences The Construction Of A $500m Gas Storage Facility

Economy, News Flash, Oil & Gas

💥BREAKING Good News For Nigeria As Masters Energy Oil and Gas Commences The Construction Of A $500m Gas Storage Facility This Is In Line With President Tinubu's Gas Infrastructure Development Plan. This is a good development in the oil and gas sector. There is hope for Nigeria !! Details Coming Soon SPECIAL ADVERT PROMO FOR 2023 IGBA-OTOMU, IGBA-UCHE, IGBA-EKPE, IZU-UCHE, IGBOTONMA AND IZA-AFA This is a special promo designed for our brothers, sisters, mothers, fathers etc who are involved in the above events and others not mentioned during this Xmas period to reach out and showcase their event to the…

Nov

2023

0 Comments

By Abia ThinkTank

The Federal Government Will Cancel Licences Of Oil Refineries Not In Use – Minister Of Petroleum(Oil)

Abuja, Oil & Gas, Presidency

💥BREAKING The Federal Government To Cancel Licenses Of Oil Refineries Not In Use . ●The Minister Of Petroleum Has Liberalise Process To Acquire Licenses To Make Way For New Players In The Oil Sector Especially Those Who Want To Establish Refineries To Do That Without Frustrations . ●If You Aren't Ready To Be An Active Player Don't Acquire Licenses…Nigeria Needs Active Refineries. SPECIAL ADVERT PROMO FOR 2023 IGBA-OTOMU, IGBA-UCHE, IGBA-EKPE, IZU-UCHE, IGBOTONMA AND IZA-AFA This is a special promo designed for our brothers, sisters, mothers, fathers etc who are involved in the above events and others not mentioned during this…