Tag: Petroleum Industry Act (PIA)

How We Unlocked $56.13mln for Host Communities – Shell

Abibat Babalola

The Shell Petroleum Development Company, operator of the SPDC joint venture, on Tuesday unveiled eight Host Community Development Trusts in Bayelsa State, a critical step for unlocking the $56million earmarked for development in line with the provisions of the Petroleum Industry Act (PIA) 2021. The $56.13 million represents funds to be paid this year by SPDC JV and Shell’s deep-water subsidiary, Shell Nigeria Exploration and Production Company Limited (SNEPCo) as contribution to HCDTs. This bold step in the implementation of the provisions of the PIA earned commendation from the Bayelsa…

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NIPCO Urges Nigerian Government on 10m cylinders Procurement For Users

Abibat Babalola

Independent petroleum firm taps Into PIA To Deepen Petroleum Sector Investments Managing Director/Chief Executive Officer, Nigerian Independent Petroleum Company (NIPCO) Plc, Suresh Kumar, has urged the Nigerian Government to make good its promise to procure 10 million gas cylinders for the benefit of users across the country. Platforms Africa reports that Mr. Kumar, who disclosed this at the 18th Annual General Meeting of the company, in Abuja, maintained that the government’s plan to procure the cylinders to marketers for onward distribution to end-users will tremendously help the promotion of cleaner…

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NNPC Secures Senate Support for Multi-million Dollars Frontier Exploration

ADEOLA YUSUF

The Nigerian National Petroleum Company limited (NNPC) has secure support from the Senate Committee on Petroleum Resources (Upstream) for its frontier exploration expected to gulp million of dollars. Platforms Africa reports that the Chairman of the Committee, Senator Bassey Albert Akpan, commended the NNPC Ltd for repositioning the Nigerian oil and gas industry into a competitive business environment the commendation when he led members of the Committee on an oversight visit to the NNPC Towers, Abuja, on Tuesday. Senator Akpan said the visit offered the lawmakers the opportunity to have…

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