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Nigeria talks tough, may force oil firms to lower production cost

Nigeria talks tough, may force oil firms to lower production cost

The Minister of State for Petroleum Resources, Ibe Kachikwu, on Monday said Nigeria may force oil companies  to lower production costs if negotiations fail. According to Mr. Kachikwu, countries like the United Arab Emirates had cut costs significantly, saying they are the lowest-cost producers in the world. The minister said this at the opening ceremony… READ MORE

‘Why Cooking Gas Price Has Not Crashed in Nigeria’

‘Why Cooking Gas Price Has Not Crashed in Nigeria’

The President of the Nigerian Liquefied Petroleum Gas Association (NLPGA), Mr. Dayo Adeshina has explained that the price of Liquefied Petroleum Gas (LPG), better known is cooking gas has not crashed to the expectations of Nigerians because infrastructural challenges have hindered the plan by the Nigeria LNG Limited to bring one LPG vessel from its… READ MORE

Oil theft: Appeal Court upholds foreigners’ jail sentence

Oil theft: Appeal Court upholds foreigners’ jail sentence

The Court of Appeal, Lagos Division, has affirmed the judgment of a Federal High Court, Lagos, which sentenced nine foreigners to five years imprisonment for stealing crude oil from Nigeria. The three-man panel, comprising Justices Hussein Mukhtar (presiding), M. L. Shuaib and Frederick Oho, dismissed the twin appeals filed by the convicted persons for lack… READ MORE

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