Tag: Chief Timipre Sylva

Minister, NUPRC Boss Divided Over Nigeria’s Oil Revenue Losses

ADEOLA YUSUF

… Theft, pipeline vandalism responsible for volumes of crude oil losses – Sylva … No, metering error is responsible for Nigeria’s huge oil revenue losses – Komolafe   Nigeria’s minister of state for petroleum Resources, Timipre Sylva, and chief executive of the Nigerian Upstream Regulatory Commission (NUPRC), Gbenga Komolafe, have sharply divided over major factor responsible for crude losses in the country. Komolafe in a document presented at one of major industry events in Nigeria said that measurement inaccuracies is a major factor for huge looses suffered by Nigeria in…

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60,000 b/d PH Refinery To Restart Operations by December – Sylva

Abibat Babalola

THE Minister of State for Petroleum Resources, Chief Timipre Sylva, on Wednesday, said that the Old Port Harcourt Refinery would become functional by December this year. The Minister disclosed this when he briefed State House correspondents at the end of the Federal Executive Council FEC, meeting presided over by President Muhammadu Buhari at the Council Chamber, Presidential Villa, Abuja. Sylvia said the development of the compressed natural gas (CNG)is still in progress. READ ALSO: BREAKING: Two Scientific Works Win $100,000 Nigeria Prize for Science Edoreh, Pinnick’s Errand Boy And the…

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Nigeria’s loss To Oil Theft Hits $40m Daily

Efe Wellington

Oil.minister says country now losses 400,000 barrels every day Minister of State for Petroleum Resources, Dr Timipre Sylva, has said that the country loses 400,000 barrels of crude daily via oil theft. Platforms Africa reports that Sylva said this when he paid a courtesy visit on Governor Hope Uzodimma of Imo State at the Government House, Owerri. With the price of crude rallying at $100 per barrel, the 400,000 barrels loss figure amounted to $40 million on daily baisis, data compiled by Platforms Africa showed. READ ALSO Oil Theft: Fact…

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Buhari Embargoes Fuel Subsidy Removal, ‘Okays’ N1.9trn Under-Recovery

ADEOLA YUSUF

Findings by Platforms Africa show that the subsidy is to cost Nigeria an average of N103bn monthly for the 18 months window opened by the President   President Muhammadu Buhari has embargoed fuel subsidy removal, a move that will gulp about N1.854 trillion for the 18 months the embargo will last. Findings by Platforms Africa showed that the subsidy is to cost Nigeria an average of N103 billion monthly for the 18 months window opened by the President. The Nigerian government, nonetheless, said that the subsidy on fuel would last…

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BREAKING: Fuel Subsidy Continues, NNPC Ltd kicks off in 6 months – Minister

ADEOLA YUSUF

Nigeria rolls out implementation timetable for Petroleum Insuatry Bill (PIB)   Fuel subsidy policies in the Nigeria’s petroleum downstream sub-sector will remain in place till further notice. Platforms Africa reports that the Nigeria’s Minister of State for Petroleum Resources, Chief Timipre Slyva, declared this in Abuja on Tuesday while giving an up-date on the implementation of the Petroleum Industry Bill (PIB). Mr. Sylva also noted that the Nigerian National Petroleum Corporation (NNPC) would become a commercial company within six months. READ ALSO: PIB: Petrol to sell for N300 per litre – Marketers…

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PIB: Buhari approved 5% for host communities, Minister slashed it — Senator

Efe Wellington

A former Governor of Bayelsa State, Senator Henry Dickson, has exposed how the Minister of State for Petroleum, Timipre Sylva, allegedly proposed 2.5 per cent operating surplus to Host Communities while President Muhammadu Buhari proposed 5 per cent in the Petroleum Industry Bill (PIB). Platforms Africa reports that the Senator made the revelation when he spoke with newsmen on the contentious issue on Thursday in Abuja. READ ALSO: Nigeria’s Oil Ministry Spent N98.4m to print PIB awareness leaflets -Senate Newly-Passed PIB Satanic, Unjust, N’Delta Leader Edwin Clark Thunders OPEC Throws…

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BREAKING: Africa’s largest incubation campus commissioned in Lagos, Nigeria

ADEOLA YUSUF

Here is what you should know about the installation billed to prepare and equip Nigerian youths in the application of science, technology, and innovation     The Minister of State for Petroleum Resources, Chief Timipre Sylva, on Tuesday in Lagos, Nigeria’s commercial capital, commissioned the UNICORN Incubation Campus, reputed to be Africa’s largest incubation campus. Platforms Africa reports that the installation was commissioned with the mission to prepare and equip Nigerian youths in the application of science, technology, and innovation to create home-grown business solutions to everyday problems in the…

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