FG sets below $10pb production cost target for oil industry
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By Obas Esiedesa
The Federal Government has set a target of $10 or less per barrel production cost for Nigeria’s oil industry. The Minister of State, Petroleum Resources, Chief Timipre Sylva, who spoke on Tuesday at the launch of the Nigerian Upstream Cost Optimisation Programme, NUCOP, said it has become critical that current average cost of below $30 per barrel for Joint Venture production and below $20 per barrel for Production Sharing Contract, PSC, was lowered.
He stressed that lower production cost was needed in order to keep the oil and gas industry afloat.
By Levinus Nwabughiogu
Stakeholders and players in the oil and gas sector of the Nigerian economy Wednesday took turns to highlight the significant good inherent in the proposed Petroleum Industry Bill, PIB currently undergoing legislative scrutiny in the national assembly.
The was as the Speaker of the House of Representatives, Femi Gbajabiamila assured that the bill would be passed into law in April this year.
The stakeholders which included the Minister of State for Petroleum Resources, Chief Timipre Silva, the Group Managing Director, GMD, of the Nigerian National Petroleum Corporation, NNPC, Mele Kyari and the Chairman of the Federal Inland Revenue Service, FIRS, Mohammed Nami said that bill when promulgated into law would promote economic growth and bring about the needed vigour and transparency that would in turn engender productivity in the petroleum industry.
… Organized labour disagrees with the creation of multiple regulatory agencies
…oil-producing States push for inclusion into board membership
By Levinus Nwabughiogu-Abuja
Stakeholders and players in the oil and gas sector of the Nigerian economy yesterday took turns to highlight the significant-good inherent in the proposed Petroleum Industry Bill, PIB currently undergoing legislative scrutiny in the national assembly.
The was as the Speaker of the House of Representatives, Femi Gbajabiamila assured that the bill would be passed into law in April this year.
The stakeholders which included the Minister of State for Petroleum Resources, Chief Timipre Sylva, the Group Managing Director, GMD, of the Nigerian National Petroleum Corporation, NNPC, Mele Kyari and the Chairman of the Federal Inland Revenue Service, FIRS, Mohammed Nami said that bill when promulgated into law would promote economic growth and bring about the needed vigour and transparency that would, in turn, engende
Daily Post Nigeria
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Good morning! Here is today’s summary from Nigerian Newspapers:
1. The Federal Government has published the passport numbers of 100 travelers, who failed to undergo the mandatory COVID-19 test after returning to Nigeria. Their details were published by the Presidential Task Force on COVID-19 on Saturday. It said the restrictions started from January 1, 2021 and would last till June 30, 2021.
2. The Chief of Protocol to Governor Oluwarotimi Akeredolu of Ondo State, Tosin Ogunbodede has lost his life in a fatal road accident. Ogunbodede, a close aide of the governor was said to have died in an accident that occurred on Saturday night along Ilesha highway. The accident also claimed the life of his driver.
Rivers TUC mourns death of deputy national president, Onuegbu Rivers TUC mourns death of deputy national president, Onuegbu
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The sudden death of Chika Onuegbu, Deputy National President of the Trade Union Congress (TUC) and former Chairman, Rivers State Chapter of TUC has thrown the labour movement, friends and associates as well as residents of Port-Harcourt, capital of oil-rich state into deep mourning.
The National Industrial Relations Officer of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), was reported to have died in Port Harcourt after a brief illness.
Sources said he complained of a headache earlier on the day and was rushed to the hospital where he gave up the ghost.