Nigeria Spends $28bn Annually On Petrol Importation – Kachikwu

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that Nigeria allocates an average of $28 billion of her foreign exchange earnings yearly to import about 92% of the petrol consumed locally, Reporters reports. Kachikwu stated recently at the 2017 conference of the Modular Refineries Association of Nigeria (MRAN) in Abuja, that on […]

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Kachikwu Outlines Three-Pronged Strategy To End Fuel Importation By 2019

To achieve the President Muhammadu Buhari led administration’s target of meeting the nation’s needs and end the importation of petroleum products by 2019 which cost the country N3.35 trillion last year, the Ministry of Petroleum Resources is executing a three-pronged strategy, reporters reports. The strategy was articulated by the Minister of State of Petroleum, Dr. Emmanuel Ibe […]

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Oil, Gas Firms To Provide Electronic Surveillance Of Facilities

Foreign and indigenous firms operating in the Nigerian oil and gas industry will have to install electronic surveillance gadgets on their facilities in a bid to curb the vandalism of oil installations across the country. This was one of the highlights of conclusions at a two-day stakeholders’ consultation on the draft National Gas Policy and […]

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Vandals Cut Nigeria’s Oil Production By 800,000 Barrels Per Day – Kachikwu

Nigeria’s crude oil production has declined massively from an average of 2.2 million barrels per day last year to about 1.4 million barrels per day due to increased vandalism of crude oil pipelines by vandals. The Minister of State for Petroleum Resources, Ibe Kachikwu, said on Monday while appearing before a special session of the […]

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