PIA 2021 attracts $16 billion in investments, boosts oil production — Reps Deputy Speaker
The House of Representatives says the enactment of the Petroleum Industry Act (PIA 2021) has yielded remarkable results, with more ...
Tag: Petroleum Industry Act
NNPC pledges commitment to proper utilization of PIA funds in Bayelsa communities
The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has pledged its commitment to ensuring that funds allocated under the Petroleum ...
TotalEnergies, MRS, others win new oil blocks in FG’s first commercial bid round
The Federal Government has successfully concluded its first oil bid round under the Petroleum Industry Act (PIA) 2021, with several ...
NNPC’s dividends to FG drops from $11.9 billion to $1.83 billion as PIA kicks in
The dividends from Nigerian National Petroleum Company (NNPC) Limited to the federation account, derived from crude oil and gas sales ...
FG’s bet on deep-water operations draws mixed reactions after IOCs took $82 billion abroad
The country has seen no fresh investment from these IOCs in over a decade, with the last significant deepwater project ...
Atiku demands listing of NNPC on stock market amid alleged privatization of Warri, Kaduna refineries
Former Vice President of Nigeria, Atiku Abubakar, has called for the listing of the Nigerian National Petroleum Corporation (NNPC) Limited ...
The $550 million investment in the Ubeta Field Development Project will boost Nigeria’s domestic gas supply
Nigeria, a leading oil producing nation has struggled to attract the right investments to scale its oil and gas industry, ...
Most oil pipelines in Nigeria were built almost 70 years ago, have outlived their lifespans — Minister
The Minister for State Petroleum Resources, Heineken Lokpobiri, stated that the majority of Nigeria’s oil pipeline infrastructure was constructed around ...
No new oil & gas developments has kicked off since PIA was signed
The Petroleum Industry Act (PIA) was passed in August 2021
Buhari says no more government funding for NNPC, now free from regulations
Buhari expressed optimism that the NNPC Limited would sustainably deliver value to its over 200 million shareholders and the global ...
