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Local content devt: NCDMB rescues local firms, boosts productivity targets

Until it’s established in 2011, the oil and gas industry has been doing almost everything from facilities outside the shores of Nigeria including manpower. Meanwhile, the crude that is being explored was gotten from the land of the Niger Delta. It has been like that for as long as one can remember right from the […]

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PIA: They’ll be no job losses Sylva tells DPR, PPPRA, PEF workers

Minister of State Petroleum Resources, Chief Timipre Sylva, has assured workers at Department of Petroleum Resources (DPR), the Petroleum Equalization Fund (PEF) and the Petroleum Products Pricing Regulatory Agency (PPPRA) their jobs were secured, despite the scrapping of the agencies necessitated by the Petroleum industry Act (PIA). Sylva, who gave the assurances while visiting the […]

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Sylva: $50m research, devt fund to boost oil, gas production

The Minister of State for Petroleum Resources, Timipre Sylva, has said THAT the $50 million research and development fund set aside in the Nigerian Content and Development Board (NCDB), was to establish a research centre good enough for effective oil and gas produchastion in the country. Speaking yesterday in Yenagoa, during the launching of the […]

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Sylva heads PIA implementation committee

President Muhammadu Buhari has approved a steering committee for the implementation of the new Petroleum Industry Act (PIA) in the country. According to a release by his spokesman, Femi Adesina, the panel to be chaired by the Minister of State for Petroleum Resources, Timipre Sylva, would oversee the process of the implementation of the new […]

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Oil prices hit 2-year high, retreat

Oil prices slipped yesterday having earlier touched $72.83, their highest since May 20, 2019. The price dip came after U.S. inventory data showed a surge in gasoline inventories due to weak fuel demand. This was reportedly caused by the U.S. Memorial Day weekend, traditionally the beginning of the peak summer driving season. Brent crude futures […]

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$1.5bn P/H refinery repair: Forum lauds Buhari, Sylva

  Johnchuks Onuanyim, Abuja South-South Emerging Leaders Forum (SELF) has expressed happiness over the approval of $1.5 billion by the Federal Executive Council (FEC) for the rehabilitation of the Port Harcourt refinery. The Forum commended President Muhammadu Buhari and the Minister of State for Petroleum, Chief Timipre Sylva for the decision. In a statement released […]

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Sylva commends Nigeria Police

The Minister of State for Petroleum Resources, Chief Timipre Sylva, has commended the Nigeria Police in their effort at securing and making Nigeria safer for everyone and worthy partner in progress. To this end, he called on members of the public to extend maximum respect to the police. Sylva, who was a former governor of […]

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DPR disqualifies over 400 firms in oil blocs bid round

161 companies now in race for 57 marginal fields The Department of Petroleum Resources (DPR) has disqualified 439 firms as bid round for marginal oil fields entered the final stage. Over 600 companies applied for pre-qualification, but spokesman for the DPR, Mr. Paul Osu, who confirmed the screening in an interview with New Telegraph yesterday, […]

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Sylva: Diversification with gas’ll lift Nigeria’s economy

The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said the country can diversify its economy and reap bountifully with gas by effectively utilising it to impact the economy. The minister, who spoke at the Indorama Petrochemical during a tour of its petrochemicals and fertilizer plants in Eleme, Rivers State, said it was […]

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Alternative to PMS abandoned by FG

As an opposition political party, the All Progressive Congress (APC) had claimed that fuel subsidy was a fraud perpetrated by the Peoples Democratic Party-led administration.   Its presidential candidate, General Muhammadu Buhari (rtd) had promised to stop such fraudulent subsidy. He also promised to make the comatose refineries work and build new ones if elected […]

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