The federal government has directed petroleum marketers to immediately reflect the recent decline in global oil prices by reducing the pump prices of petroleum products.
Aviation minister Festus Keyamo says President Bola Tinubu’s government has decided to grant domestic airlines discounts on debts they owe aviation agencies.
Deputy petroleum minister (gas) Ekperikpe Ekpo has commended Southfield Petroleum’s 200 million standard cubic feet per day gas processing plant.
The minister described the ministry of petroleum resources as a key institution coordinating activities across the oil and gas value chain.
Mr Lokpobiri has called for practical, collaborative approaches to strengthening local content implementation in the oil and gas industry.
NNPC has opposed the bill to establish the National Commission for the Decommissioning of Oil and Gas Installations 2024.
The minister stated that under Mr Tinubu’s leadership, Nigeria’s oil sector has witnessed significant progress.
Another industry player described the situation as pay-to-play blackmail.
Mr Lokpobiri said the production target for the 2025 budget was based on 2.06 million barrels per day.
The NNPCL chief mentioned that the president’s economic reform had sent the right signals to attract foreign direct investments.
