Business Monitor International (BMI Research), a Fitch rating company said that Nigeria’s petroleum industry is still looking promising in the coming year with oil production projected to see a rebound at an average Brent benchmark of $55.00 per barrel in the international market
The Minister of State for Petroleum, Dr Ibe Kachikwu has urged Nigerians to face the challenges posed by recession and make the best of it in 2017, observing that the recession has brought out the ingenuity in Nigerians to look within.
The federal government,, said it has been losing between $500 million and $1 billion in revenues that would have accrued to it from penalties for gas flaring by International Oil Companies (IOCs) operating in the country.
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said crude oil price may fall to $44 per barrel if the Organisation of Petroleum Exporting Countries fails to reach a consensus this week.
The four refineries belonging to the Federal Government may end up as scrap once the Dangote Group begins processing crude oil at its refinery in Lagos by 2019, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said.
The Minister of State for Petroleum, Dr Ibe Kachikwu, has said the recent N4 increase in price of petrol in Nigerian National Petroleum Corporation (NNPC) filling stations, is wrong.
Nigeria’s Minister of State for Petroleum, Dr. Ibe Kachikwu, says the Federal Government will work to maintain the new petroleum products pricing template which pegs the price of petrol between 135 and 145 Naira per litre.
Niger Delta militants on Saturday threatened ‘war’ while dissociating themselves from the meeting elders from the oil-rich region had with President Muhammadu Buhari in Abuja, last Tuesday.
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that the reforms embarked upon by the government are targeted at cutting petroleum products’ importation by at least 60 per cent by 2018 and thereafter position the country for net export by 2019.
The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has said that Nigeria expects as much as $4 billion in loan facilities for infrastructure development in the oil and gas sector.