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Posts Tagged "kachikwu"

HomePosts Tagged "kachikwu"
  • Kachikwu

Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu, has explained why some investors find it difficult to invest in Nigeria. Kachikwu hinged their fears on security concerns and other issues in Nigeria. Kachikwu, who spoke at the 6th Sustainability in the Extractive Industries Conference organised by CSR-in-Action on Wednesday in Abuja, observed that although […]

By Paul Carsten and Tife Owolabi KINGDOM OF GBARAMATU, Nigeria, July 9 (Reuters) – The Nigerian government’s efforts to secure peace in the oil heartlands of the Niger Delta are empty promises, community leaders say, threatening a return to violence that would derail any broader recovery in the crude-dependent economy. With Africa’s biggest economy mired in […]

ABUJA, July 4 (Reuters) – Nigeria’s state oil company has saved $2 billion in the past year by renegotiating its upstream servicing contracts, it said in a statement on Tuesday, as it tries to reduce high overheads. The Nigerian National Petroleum Corporation (NNPC) is attempting to revive the oil industry on which the country’s economy depends, […]

Nigeria’s crude oil exports are set to surpass two million barrels per day (bpd) in August, the highest in 17 months, as the country’s oil and gas industry nears a full recovery from attacks by the Niger Delta militants that crippled production in 2016. It is expected that if the ramp-up in Nigeria’s production is […]

  • Kachikwu

Chineme Okafor  Nigeria allocates an average of $28 billion of her foreign exchange earnings yearly to import about 92 per cent of the petrol consumed locally, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said. Kachikwu stated recently at the 2017 conference of the Modular Refineries Association of Nigeria (MRAN) in Abuja, […]

  • Kachikwu

The Federal Government is expected to save N4.69 trillion yearly from massive importation of petroleum products, as it plans to become a net exporter by end of 2019, according to statistics released by the Federal Ministry of Petroleum Resources. Besides, the Ministry, which said that no financiers have been selected for the rehabilitation of refineries […]

  • Kachikwu

In the last one year, the country has spent about N4.74tn on the importation of petroleum products, an amount that is made up of N3.4tn for the actual products and N1.34tn on logistics. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, who stated this at a press conference in Abuja on Thursday, said, […]

  • gas opportunities

By Camillus Eboh ABUJA, June 8 (Reuters) – Nigeria plans to raise $1.2 billion to upgrade its oil refineries, aiming to end a reliance on oil product imports by 2019, the oil minister said on Thursday. Although Nigeria is an exporter of oil, it is mainly dependent on imports for refined products. That drains the […]

  • Kachikwu

Okechukwu Nnodim, Abuja  The Minister of State for Petroleum Resources, Ibe Kachikwu, on Tuesday said it was shameful that the country had continued to import finished petroleum products. According to him, the country has to stop importing the products, adding that the Federal Ministry of Petroleum Resources was committed to making this happen. The minister […]

  • Kachikwu

The Federal Government has invited Russia and investors from the country to invest in the Nigerian oil and gas sector. In a statement by the Ministry of Petroleum Resources in Abuja, Minister of State for Petroleum Resources, Mr. Emmanuel Ibe Kachikwu, met with his Russian counterpart, Alexander Novak, where they explored areas of mutual interest […]