Nigeria Archives - Ibe Kachikwu

29th June 2022

Nigeria to Address Energy Security by Investing in Several Gas Projects – Sylva

H.E. Mr Timipre Sylva, Nigeria's Minister of State for Petroleum Resources, announced the identification of 20 crucial gas projects during a roundtable discussion hosted by the African Energy Chamber. These...

28th June 2022

Nigeria Will Meet its OPEC+ Quota by August – Timipre Sylva

Nigeria's Minister of State for Petroleum Resources, Chief Timipre Sylva, stated last week that his country would be able to achieve its OPEC output quota by the end of August...

10th April 2022

Nigeria’s Fuel Subsidy to Cost 10 Times More Than Budgeted

In a recent letter to MPs, Nigeria's President Muhammadu Buhari stated that the rising cost of crude oil will boost the cost of the country's fuel subsidy by roughly ten...

7th April 2022

OPEC Does Not Have Spare Capacity to Produce More Oil – Timipre Sylva

Nigeria's Petroleum Minister, H.E. Timipre Sylva, told Turkish news agency, Anadolu Agency in an interview on Friday that OPEC does not have the additional spare capacity to raise crude oil...

15th March 2022

Shell Ordered to Suspend Plans to Sell its Assets in Nigeria

Shell Plc has been ordered by a Federal High Court in Owerri, the capital of Imo State in south-eastern Nigeria, to halt all preparations to sell up its offshore assets...

1st February 2022

Nigeria Lost Close to Half a Billion in Oil Revenues to Force Majeure in December

According to Nigeria's National Oil Company, the Nigerian National Petroleum Corporation (NNPC), OPEC's largest African producer, lost an estimated $487.5 million in oil earnings in December 2021 due to force...

16th November 2021

Libya Overtakes Nigeria as Africa’s Leading Oil Producer

Libya has historically eclipsed Nigeria as the continent's top oil producer after surpassing Angola as Africa's second-largest oil production in December 2020. Nigerian oil production fell to 1.23 million barrels...

26th October 2021

OPEC+ Should Not Rush to Increase Production Despite Rising Prices – Saudi and Nigeria Oil Ministers

Saudi Arabia's oil minister, Abdulaziz bin Salman, stated in an interview with Bloomberg that OPEC+ needed to be careful in its approach to oil production changes despite rising prices. Higher...

9th October 2021

Senate Confirms Nigerian Midstream and Downstream Petroleum Regulatory Authority’s Leadership

The Senate confirmed four nominees for members of the Nigerian Midstream and Downstream Petroleum Regulatory Authority on Thursday. They are Chairman Idaere Gogo Ogan, Chief Executive Officer Farouk A. Ahmed,...

7th October 2021

Senate Confirms Nigerian Upstream Regulatory Commission Leadership; Scraps DPR

According to the requirements of the newly approved Petroleum Industry Act (PIA), the Nigerian Senate confirmed the nomination of board members of the Nigerian Upstream Regulatory Commission (NURC), resulting in...