Michael Eboh News Today

By Michael Eboh The Federal Government has officially confirmed the return of fuel subsidy, as the Petroleum Products Pricing Regulatory Agency, PPPRA, yesterday, fixed the pump price of Premium Motor Spirit, PMS, also known as petrol, at N212.61 per litre, for the month of March. The new price, according to the PPPRA’s PMS guiding price, released to stakeholders, is supposed to commence from March 1st and run till March 31st, 2021. However, the fact that the price of the commodity is still b...

DPR to upgrade downstream petroleum sector operations On By Michael Eboh The Department of Petroleum Resources, DPR, Tuesday, disclosed that it plans to upgrade operations in the downstream petroleum industry, leveraging on its ongoing automation process. In a statement in Abuja, Director/Chief Executive Officer of the DPR, Engineer Sarki Auwalu, stated that the upgrade would be to global standards and would be driven by its deployment of improved technology. Auwalu, who was speaking at a virt...

Vanguard News DPR issues licence for establishment of first floating LNG plant On By Michael Eboh The Department of Petroleum Resources (DPR), yesterday, said it has issued a licence to UTM Offshore Limited, to establish the first floating Liquefied Natural Gas, LNG, production plant in the country. In a statement by its Head, Public Affairs, Mr. Paul Osu, the DPR disclosed that with receipt of the Licence to Establish, LTE, UTM Offshore, an indigenous oil and gas company, would be building th...

By Michael Eboh The Department of Petroleum Resources (DPR), yesterday, disclosed that majority of the crude oil theft recorded in the country’s petroleum industry occur in the inland terminals, noting that it is practically impossible to steal crude oil from the offshore terminals. In a statement issued by its  Head, Public Affairs, Mr. Paul Osu, in Abuja, Director of the DPR, Engr. Sarki Auwalu, explained, however, that Nigeria has over 30 terminals with only five of them being land termin...

13% Derivation: Eight states receive N6trn in 11 years — Report On By Michael Eboh Eight oil-producing states received N6.589 trillion from the Federation Account under the 13 per cent derivation principle, between 2009 and 2019, with little or no impact on the lives of citizens of the states, according to a report published by ACIOE Associates. The report, obtained, following its release, at a webinar in Abuja, to key officers of the National Assembly and aides to the President and Minister...

…Clarify Derivation Act to stop mismanagement, FG told By Michael Eboh Eight oil-producing states received N6.589 trillion from the Federation Account under the 13 per cent derivation principle, between 2009 and 2019, with little or no impact on the lives of citizens of the states, according to a report published by ACIOE Associates. The report, obtained yesterday, following its release, at a webinar in Abuja, to key officers of the National Assembly and aides to the president and minister of...

FG to launch centre to drive cost efficiency, others in oil sector On By Michael Eboh The Department of Petroleum Resources, DPR, Monday, disclosed that the National Oil and Gas Excellence Centre, NOGEC, designed to drive the three-pronged objectives of safety, value and cost efficiency in the petroleum industry, would be launched, January 21, 2021, by President Muhammadu Buhari. In a statement by Head, Public Affairs of the DPR, Mr. Paul Osu, the NOGEC would be inaugurated virtually by the pr...

Vanguard News NEITI clears NNPC, says 11 audit issues resolved On By Michael Eboh The Nigeria Extractive Industries Transparency Initiative, NEITI, yesterday, disclosed that 11 out of the 20 audit issues raised against the Nigerian National Petroleum Corporation, NNPC, in its past audit reports have been resolved. In a statement in Abuja, NEITI, also noted that eight other issues in its past audit reports against the NNPC were currently being resolved, while only one issue was yet to be resolv...

  Nigeria’s petroleum industry regulator, the Department of Petroleum Resources, DPR, yesterday, assured of petroleum products’ availability and stable fuel supply in the country during the period of the yuletide. In a statement in Abuja, the DPR also cautioned oil marketers against engaging in sharp practices that are capable of distorting product supply. The DPR stated that there are sufficient petroleum products nationwide, while it also advised petroleum products, marketers, against ho...

Vanguard bags two awards at NMMA On VANGUARD newspapers won two prizes at the Nigeria Media Merit Awards, NMMA, in Lagos, weekend. The first prize was in the political reporter of the year category, won by Clifford Ndujihe, with his entry on ‘Nigeria spends N2 trillion on NASS in 21 years.’ The second prize went to Michael Eboh, with his entry on ‘Petrol smugglers lose big’ in the Energy Correspondent of the year category. Overall, Vanguard had eight nominations. These include Akeem Sa...