• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Company News

NNPC Tells Reps They Want To Increase Royalties From Deepwater Oil Revenues

Nairametrics by Nairametrics
January 13, 2017
in Company News
Share on FacebookShare on TwitterShare on Linkedin

Reuters: Nigeria’s NNPC has proposed legal amendments aimed at enabling the government to increase royalties and other revenues from deepwater oil production.

The proposed amendments relate to the Deep Offshore and Inland Basin Production Sharing Contract (PSC) Act.

The Nigerian National Petroleum Corporation (NNPC) said the calculation of what was due to the government should be “based on production and price to guarantee fairness and balance between PSC contractors and government”.

RelatedStories

Zabazaba oil field

Bullish momentum in Nigeria’s oil and gas Sector: Can the rally be sustained? 

October 5, 2024
Nigerian Stock Market sees red from start to finish, suffers N156 billion loss at last trading day of the week

Industrial goods sector suffers 13% drop in August, While Oil and Gas boosts market 

September 2, 2024

In a presentation to the lower house of parliament, NNPC’s chief operating officer for upstream operations, Bello Rabiu, said the current graduated royalty scale should be removed.

“It is our opinion that the proposal to increase the royalty rate for terrains beyond 1000 metres, from zero percent to 3 percent, is commendable but it is necessary to also make corresponding adjustments in other categories,” he said.

NNPC also said the petroleum minister should have powers to intermittently set royalties payable for acreages located in deep offshore and inland basin production-sharing contracts.

The company also said some incentives should be removed, including the investment tax credit, investment tax allowance and capital allowances to PSC contractors.

Source: RPT-Nigeria’s NNPC proposes changes to increase deepwater oil revenues

Tags: NNPC Nigeria NewsOIl and Gas News
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

Related Posts

Zabazaba oil field
Blurb

Bullish momentum in Nigeria’s oil and gas Sector: Can the rally be sustained? 

October 5, 2024
Nigerian Stock Market sees red from start to finish, suffers N156 billion loss at last trading day of the week
Equities

Industrial goods sector suffers 13% drop in August, While Oil and Gas boosts market 

September 2, 2024
President Bola Ahmed Tinubu
Energy

President Tinubu to commission 3 main gas infrastructure projects by NNPC, others

May 3, 2024
NUPRC, Shell
Energy

FG offers to expedite approval of Shell, others exit from Nigeria if they pay for oil spill cleanup

May 3, 2024
Why young Nigerians must consider investing in local and foreign stock markets
Exclusives

Nigerian Stocks you can invest in, if you have N2 million in January 2024 

January 8, 2024
Developing countries may likely bear the brunt of OPEC’s oil production cuts – IEA
Energy

Oil and gas demand will peak before 2030 – McKinsey  

October 24, 2023
Next Post
Nigerians Receive Another Warning As MMM Zimbabwe Crashes

MMM Nigeria Resumes Ahead of Schedule

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • FG treats 30 million Nigerians with ivermectin in major push against tropical diseases 
  • World Bank disburses N3.8 billion to boost climate adaptation in Yobe communities 
  • NCC vs MTN: AGF to decide on criminal charges facing CEO Karl Toriola 

Follow us on social media:

Recent News

FG treats 30 million Nigerians with ivermectin in major push against tropical diseases 

FG treats 30 million Nigerians with ivermectin in major push against tropical diseases 

July 2, 2025
World Bank disburses N3.8 billion to boost climate adaptation in Yobe communities 

World Bank disburses N3.8 billion to boost climate adaptation in Yobe communities 

July 2, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics