Upstream oil firms to refine 20% crude produced locally

The Federal Government has unveiled plans to reel out a new policy that will require operating companies to refine locally at least 20 per cent of the crude oil they produce in the country. The new measure is aimed at boosting local petroleum refining capacity, create jobs and reduce the huge amount the country is […]

Refineries to fully function by 2019 – Ibe Kachukwu

The Minister of State for Petroleum, Dr Ibe kachukwu, has said that it would be sad if the nation’s refineries are not functional by the end of 2019. According to him, the present administration is committed to ensuring that the importation of petroleum products is curtailed. Kachukwu stated this on Thursday in Ibigwe-Ohaji in Ohaji\Egbema […]

We’re not selling NLNG – FG

The Minister of State, Petroleum Resources, Dr Ibe Kachikwu, on Tuesday assured that the Federal Government is not selling its stakes in the Nigerian LNG Limited. He made a submission to the House of Representatives Committee on Gas Resources and Allied Matters at the National Assembly in Abuja. The committee is chaired by a member […]

FEC approves N17bn for petrol tracking equipment

  The Federal Executive Council (FEC) on Wednesday approved N17 billion for the installation of petrol tracking technology in furtherance of government’s efforts to combat the menace of oil theft and bunkering in the country. The equipment, technically called – automated fuel system management and censor network, which would be delivered under the Petroleum Equalisation […]