Nigeria | Egypt Oil & Gas - Part 49
Nigeria’s APC States Government Must Scrap Oil-Industry Bill
Nigeria’s ruling party recommended the government discard a long-delayed oil-industry bill, review fuel subsidies and sell off some units of the state petroleum company. The Petroleum Industry Bill should be scrapped ...
Nigeria’s Oil Company Kept Most of Oil Revenue
Nigeria’s state oil company earned 8.1 trillion naira ($41 billion) from 2012 until the end of May, but only paid 4.3 trillion to the federal government, the country’s National Economic Council (NEC) said ...
Nigeria Relaxes Grip on Gas Prices to Increase Power-Plant Supply
Nigeria’s energy regulator said it’s prepared to approve higher prices for natural-gas supply to ensure increased deliveries to the nation’s ailing power plants. The Nigerian Electricity Regulatory Commission will con...
Fuel Shortages to Hit Nigeria Says Seplat CEO
Nigeria will probably be hit by fuel shortages in three weeks as the government doesn’t have enough money to pay for gasoline subsidies, according to the head of Seplat Petroleum Development Co Plc. “In three weeks we...
Nigerian President Dissolves Board of NNPC
Nigeria’s new President Muhammadu Buhari dissolved the board of the state-owned oil company on Friday as a first step in cleaning up the sector in Africa’s biggest crude producer. Inaugurated on May 29, Bu... Nigeria Crude Differential Hits 10-year Low
Official prices for Nigerian crude have hit their lowest in at least a decade as a nagging oversupply of physical oil takes its toll. The Nigerian National Petroleum Corp (NNPC) lowered the official selling price for ...
Nigeria’s Buhari Advised to End Fuel Subsidy
Nigeria’s new president, Muhammadu Buhari, has been advised by his transition committee to end a fuel subsidy program and privatize Nigeria’s four refineries, senior sources in his party told Reuters on Su... Nigeria Reconsiders Stakes in Joint Ventures
The Nigerian government should start selling off its stakes in oil joint ventures with foreign partners to ease the funding issues and leakage of cash due to corruption and waste which have impeded the country’s...
