… Earns N1.7trn oil revenue in 3 years
Nigeria would need about $3.5 billion investments to activate the new market-based initiative it had set up to achieve the gas flare commercialization target by 2020. This was disclosed in the latest Department of Petroleum Resources, DPR, 2017 Nigerian Oil and Gas Industry Annual Report.
DPR Zonal Operations Comptroller, Wole Akinyosunye.
The Department of Petroleum Resources (DPR) has expressed concern over the infiltration of adulterated lube oil (engine oil) into the petroleum market.
JONAS EZIEKE and EUCLID MYKE, Abuja
The House of Representatives AD-HOC Commitee on Oil Prospecting Licences (OPLs) and Oil mining Leases (OMLs), on Monday asked the Central Bank of Nigeria(CBN) to provide all relevant documents to unravel if the payments of application fees, royalties, signature bonuses and other fees were actually made by oil companies to Department of Petroleum Resources.
Three major revenue collecting agencies of the federal government have shared a total of N142.6 billion between June 2015 and May 2016.
This is the cost of revenue collected by the Nigeria Customs Service, NCS, the Federal Inland Revenue Service, FIRS, and the Department of Petroleum Resources, DPR.
The Department of Petroleum Resources has called on petroleum marketers to beware of charlatans parading themselves as officers of the agency.
The Department of Petroleum Resources (DPR) on Saturday shut four petrol stations in Abuja for hoarding, under dispensing and other sharp practices while selling Premium Motor Spirit (PMS) in the city.
An indigenous oil and gas firm, Integrated Oil and Gas Limited, has commenced arrangements to float a $116 million modular refinery in Lagos State,