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P’Harcourt Refinery to resume production in December –Sylva

The Minister of State for Petroleum Resources, Chief Timipre Sylva has promised that the old Port Harcourt Refinery undergoing rehabilitation will begin operations in December. The former Bayelsa State governor made the pledge yesterday when briefing State House correspondents after the weekly Federal Executive Council (FEC) meeting chaired by President Muhammadu Buhari at the Presidential […]

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Oil prices fall below $90 per barrel

Oil prices on Wednesday dipped below $90 a barrel, which is the lowest in seven months. Brent crude, the global benchmark, fell by 3.16 per cent to $89.67 a barrel amid imminent recession across western countries. This new price is the lowest since January 23, 2022. Also West Texas Intermediate (WTI) fell over 3 per […]

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Sylva inaugurates MDGIF to develop gas sector

The Federal Government yesterday moved to fix the critical missing link in its effort to develop the gas sector with the inauguration of the Governing Council of the Midstream & Downstream Gas Infrastructure Fund (MDGIF). While inaugurating the nine-member Council, the Minister of State for Petroleum Resources, Chief Timipre Sylva, told members to work towards […]

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Abuja fuel crisis to persist for a while –Sylva

Fuel queues are to persist in the nation’s capital, Abuja even as the Federal Executive Council (FEC) approveda total sum of N22.449 billion for projects in the Ministries of Petroleum ResourcesandEnvironment. These were disclosed by the Minister of Environment, Muhammed Abdullahi, and the Minister of State, Petroleum Resources, Timipreye Sylva at a briefing after the […]

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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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