Podcasts about petroleum resources

As public consequences of the ANC's destructive economic policies ratchet higher, Cyril Ramaphosa and his lackeys follow its bat-eared playbook - double down. The President's economically incoherent ramblings in Parliament this week are mirrored in his party's Mineral Resources Bill proposal that reinforces the idiocy which has driven the country into the bottom run of global mining destinations. The DA's long-time specialist, Mineral and Petroleum Resources spokesman James Lorimer unpacks the ANC's latest derangement with BizNews editor Alec Hogg.

John Maytham is joined by Dr Ross Harvey, mining analyst and Chief Research Officer at Good Governance Africa, to unpack the storm brewing over the draft amendments to the Minerals and Petroleum Resources Development Act (MPRDA). Speaking at the Junior Mining Indaba, critics slammed the bill as a throwback to the controversial 2017 “Zwane Bill”, accusing the Department of Minerals and Petroleum Resources of repeating past mistakes. Presenter John Maytham is an actor and author-turned-talk radio veteran and seasoned journalist. His show serves a round-up of local and international news coupled with the latest in business, sport, traffic and weather. The host’s eclectic interests mean the program often surprises the audience with intriguing book reviews and inspiring interviews profiling artists. A daily highlight is Rapid Fire, just after 5:30pm. CapeTalk fans call in, to stump the presenter with their general knowledge questions. Another firm favourite is the humorous Thursday crossing with award-winning journalist Rebecca Davis, called “Plan B”. Thank you for listening to a podcast from Afternoon Drive with John Maytham Listen live on Primedia+ weekdays from 15:00 and 18:00 (SA Time) to Afternoon Drive with John Maytham broadcast on CapeTalk https://buff.ly/NnFM3Nk For more from the show go to https://buff.ly/BSFy4Cn or find all the catch-up podcasts here https://buff.ly/n8nWt4x Subscribe to the CapeTalk Daily and Weekly Newsletters https://buff.ly/sbvVZD5 Follow us on social media: CapeTalk on Facebook: https://www.facebook.com/CapeTalk CapeTalk on TikTok: https://www.tiktok.com/@capetalk CapeTalk on Instagram: https://www.instagram.com/ CapeTalk on X: https://x.com/CapeTalk CapeTalk on YouTube: https://www.youtube.com/@CapeTalk567 See omnystudio.com/listener for privacy information.

ActionSA has renewed its long-standing appeal to Minister of Mineral and Petroleum Resources, Gwede Mantashe, for the recovery of the bodies of three mineworkers - Solomon Nyirenda, Pretty Mkambule, and Yvonne Mnisi, who tragically lost their lives in the Lily Mine disaster in February 2016. Despite the passage of over nine years, the bodies remain trapped underground.ActionSA is urging government to take decisive action by retrieving the bodies. Elvis Presslin spoke to Herman Mashaba, Leader of ActionSA, to delve deeper into the party's appeal

The Portfolio Committee on Mineral and Petroleum Resources has raised concern about the insufficient strategic fuel reserves available to provide uninterrupted service in cases of emergency. The committee conducted a two-day oversight visit to the Strategic Fuel Fund (SFF) in Saldanha on Tuesday to ensure that the SFF has sufficient petroleum reserves to keep the supply uninterrupted during a crisis. Parliament's Portfolio Committee on Mineral and Petroleum Resources raised questions after it found much of that storage is empty. Sakina Kamwendo spoke to Committee Chairperson, Mikateko Mahlaule

A full report by the technical teams is yet to be given to the police and the Department of Mineral and Petroleum Resources & later today The Minister of Police, Mr Senzo Mchunu and the Deputy Minister of Police, Ms Polly Boshielo, will brief the media and the public following the completion of operations in Stilfontein. The National Commissioner of Police, General SF Masemola will also be in attendance. Clarence Ford speaks to Nokukhanya Mntambo EWN Reporter. See omnystudio.com/listener for privacy information.

The Democratic Alliance (DA) is urging President Cyril Ramaphosa to establish an independent Commission of Inquiry into the Buffelsfontein mine disaster, which has claimed over 70 lives and rescued 246 illegal miners. As the government-led rescue operation comes to a close, the DA emphasizes the need for accountability and a thorough investigation into the systemic failures that led to this tragedy. To elaborate further on the party's sentiments, Elvis Presslin spoke to James Lorimer MP and DA Spokesperson on Mineral and Petroleum Resources

John Maytham is joined by James Lorimer, DA Spokesperson on Mineral and Petroleum Resources, to unpack the reality of the Buffelsfontein saga, the government’s inaction, and what the DA proposes to bring this crisis to an endSee omnystudio.com/listener for privacy information.

Parliament's Trade, Industry and Competition Committee wants commercial banks to appear before it early next year, to iron out various issues. That's according to the chairperson of the committee, Mzwandile Masina. He spoke to the media during a briefing of the chairpersons of Parliament's economic cluster, which consists of among others Transport, Trade, Industry and Competition, Agriculture and Minerals and Petroleum Resources. Zalene Merrington reports...

Scores of people from mining-affected communities are marching to the Department of Mineral and Petroleum Resources today, calling for the recognition of their rights. The march is part of a broader campaign by the Mining Affected Communities United in Action (MACUA) to demand mandatory consent from mining-affected communities before mining rights are granted. At the heart of the issue is the need for mining communities to have a say in decisions that affect their lands and livelihoods. To elaborate further on the community's concerns, Elvis Presslin spoke to Gift Radebe, National Secretary of the Mining Affected Communities United in Action, MACUA

Welcome to Episode 1 in Season 4 of our BC's Path to Universal Child Care Podcast. Today we welcome you back to our podcast for a new season with our special guest: Michelle Mungall, who has dedicated much of her career to advocating for the rights and well-being of children and families in her community. We are honoured and grateful to welcome Michelle Mungall to share insights, experiences, and her vision for the future of child care. Michelle Mungall served as British Columbia's Minister for Energy, Mines and Petroleum Resources from 2017-2020, and then as Minister of Jobs, Economic Development and Competitiveness in 2020. She was the first female MLA for Nelson-Creston from 2009 to 2020, and the youngest City Councillor for the City of Nelson from 2002-2005. She is now a senior advisor in the energy sector, monthly opinion writer for the Vancouver Sun and proud mom of two.As a lifelong feminist advocating for gender equality, Michelle's insights couldn't come at a more critical time. Learn more by listening to the episode now!

The Central Energy Fund (CEF) Group says it has noted with concern recent allegations in a Sunday publication that there is a battle between Minister Gwede Mantashe and Minister Kgosientsho Ramakgopa over the control of the Central Energy Fund. The CEF says its Mandate is to contribute to the security of energy supply of South Africa and reports to the Minister of Mineral and Petroleum Resources. It says any interactions between CEF and Minister of Electricity and Energy would be undertaken through the Department of Mineral and Petroleum Resources by following the relevant Shareholder protocols. For more on this Elvis Presslin spoke to Corporate Affairs Manager at the Central Energy Fund, Jacky Mashapu

Every year, the Commonwealth collects more revenue from HECS than it gets from the Petroleum Resource Rent Tax. The PRRT is so insufficient that gas companies love it! Mark Ogge explains the Government's proposed changes, and how we can fix it to tax our gas companies fairly. This was recorded on Tuesday 6th February 2024 and things may have changed since recording. australiainstitute.org.au // @theausinstitute Guest: Mark Ogge, Principal Advisor, the Australia Institute // @MarkOgge  Host: Ebony Bennett, Deputy Director, the Australia Institute // @ebony_bennett Producer: Jennifer Macey // @jennifermacey Edited by: Emily Perkins Theme Music: Pulse and Thrum; additional music by Blue Dot SessionsSupport Follow the Money: https://nb.australiainstitute.org.au/donateSee omnystudio.com/listener for privacy information.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, says the Nigerian National Petroleum Company Limited is selling Premium Motor Spirit, popularly called petrol, at a loss because of its mandate from the Federal Government as regards PMS subsidy. Sylva insisted that subsidy had been a burden, but stressed that it was a mandate on NNPC which had made the oil firm to continue selling PMS at a loss. He says the management of the supply situation under this subsidy regime is not easyThis show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4090160/advertisement

The Minister of State for Petroleum Resources, Timipre Sylva, says the Federal Government is not responsible for the increase in the price of petrol across the country. Sylva says the government is still subsidising petrol while adding that the marketers are most likely to blame. The Nigerian National Petroleum Corporation Limited says petrol subsidy claims reached N2.6 trillion in the first half of 2022, surpassing revenue generated from the sale of crude oil.

BC's unemployment rate has gone down to 4.5%. That is the lowest it has been in 3 years. Lots of jobs added. Strong recovery from COVID-19. Guest: Bruce Ralston, Minister of Energy, Mines and Petroleum Resources. See omnystudio.com/listener for privacy information.

Ch1: House investigators are making the case to the American public in a prime-time hearing that the violent insurrection by President Donald Trump's supporters should not be forgotten. Guest: Reggie Cecchini, Global News Washington Correspondent. Ch2: BC's unemployment rate has gone down to 4.5%. That is the lowest it has been in 3 years. Lots of jobs added. Strong recovery from COVID-19. Guest: Bruce Ralston, Minister of Energy, Mines and Petroleum Resources. Ch3: BC Green Party leader Sonia Furstenau announced on Thursday she is heading out on a provincial health-care tour to speak to providers, advocates and patients across British Columbia. Guest:  Sonia Fursteanau, Leader of BC Green Party. Ch4: Vancouver Whitecaps FC will look to continue their two-match winning streak in MLS play next Tuesday, June 14 as they face Cascadia rivals Seattle Sounders FC at Lumen Field in Seattle, Washington. Guest: Vanni Sartini, Head coach of the Vancouver Whitecaps. Ch5: As the province braces for heavy rain there is growing concern about localized flooding from rising rivers. Guest: Armel Castellan, Warning Preparedness Meteorologist for Environment and Climate Change Canada. Ch6: It is now time for our Keep it Local: BC Farming Series. Today we are speaking to a local farm in Ladner that has been around since 1994!  Westham Island Farm! Guest: Sharon Ellis, Owner & operator of Westham Island Herb Farm See omnystudio.com/listener for privacy information.

The federal government stated that Sub-Saharan Africa could require as much as $60 billion to access reliable electricity and clean cooking facilities between now and 2030. The Minister of State for Petroleum Resources, Timipre Sylva, noted that an annual investment of around $35 billion could bring electricity access to 759 million Africans who currently lack it. Sylva added that another $25 billion a year could help 2.6 billion people globally to access clean cooking by 2030. He stressed that the required investment represents only a small fraction of the multi-trillion-dollar global energy investment needed overall.

The federal government has insisted that it wasn't in breach of any part of the treaty setting up the West African Gas Pipeline Authority by the selection of a Nigerian to head the organisation. The francophone countries insist that Nigeria cannot have both the headquarters and the director-general simultaneously. Minister of State, Petroleum Resources, Mr Timipre Sylva, maintained that the Accra resolution of November 2021, to move ahead with the appointment of a Nigerian as the head of the body remains very critical. He called for the understanding of member nations, urging them to stick to the rules set up the body.

In this edition of #AduAndTheGuru, Oluwakayode and The Guru focus on the suggestion of the Minister of state for Petroleum Resources, Timipre Sylva, to smuggle PMS to neighboring country if the subsidy component can be taken out through deregulation. They also discussed some other topics making rounds in the news from the story of the police officers that rejected N300,000 bribe, and returned N600,000 paid into their account, to Federal Government stating they're unaware of the exact daily fuel consumption in the country, and more.

The federal government urged Julius Berger, the contractors handling the multi-billion-naira new office building belonging to the Nigerian Upstream Petroleum Regulatory Commission to speed up work on the project. The government explained that this should be done in time before President Muhammadu Buhari's exit from power next year as earlier agreed. Minister of State, Petroleum Resources, Chief Timipre Sylva stated that although the government was satisfied with the quality of work, the pace had been unnecessarily slow. Sylva noted that although some progress had been made, it was important for the project to be completed before May 29 next year, stressing that the 36 per cent work already carried out should have been higher by now.

The Nigerian Upstream Petroleum Regulatory Commission pledged to support the Nigerian Gas Expansion programme of the federal government to improve domestic utilisation of gas for power, industrialisation in order to deepen Liquefied Petroleum Gas penetration in the country. The federal government had said that the programme was envisioned to lift millions of Nigerians out of poverty through the establishment of gas-related outlets that would serve the public when fully realised. The Minister of State for Petroleum Resources, Mr Timipre Sylva, explained that natural gas presents an opportunity for the nation to use gas as a catalyst for its socio-economic renaissance. The Commission's Chief Executive Officer, Mr Gbenga Komolafe, stressed that the NUPRC being a product of the Petroleum Industry Act 2021 responsible for technical and commercial regulation of upstream petroleum business was fully prepared to ensure that Nigeria's gas resources are fully harnessed.

The Nigerian Upstream Petroleum Regulatory Commission pledged to support the Nigerian Gas Expansion programme of the federal government to improve domestic utilisation of gas for power, industrialisation in order to deepen Liquefied Petroleum Gas penetration in the country. The federal government had said that the programme was envisioned to lift millions of Nigerians out of poverty through the establishment of gas-related outlets that would serve the public when fully realised. The Minister of State for Petroleum Resources, Mr Timipre Sylva, explained that natural gas presents an opportunity for the nation to use gas as a catalyst for its socio-economic renaissance. The Commission's Chief Executive Officer, Mr Gbenga Komolafe, stressed that the NUPRC being a product of the Petroleum Industry Act 2021 responsible for technical and commercial regulation of upstream petroleum business was fully prepared to ensure that Nigeria's gas resources are fully harnessed.

The Nigerian Upstream Petroleum Regulatory Commission pledged to support the Nigerian Gas Expansion programme of the federal government to improve domestic utilisation of gas for power, industrialisation in order to deepen Liquefied Petroleum Gas penetration in the country. The federal government had said that the programme was envisioned to lift millions of Nigerians out of poverty through the establishment of gas-related outlets that would serve the public when fully realised. The Minister of State for Petroleum Resources, Mr Timipre Sylva, explained that natural gas presents an opportunity for the nation to use gas as a catalyst for its socio-economic renaissance. The Commission's Chief Executive Officer, Mr Gbenga Komolafe, stressed that the NUPRC being a product of the Petroleum Industry Act 2021 responsible for technical and commercial regulation of upstream petroleum business was fully prepared to ensure that Nigeria's gas resources are fully harnessed.

Minister of State for Petroleum Resources, Chief Timipre Sylva, has assured that Nigeria would meet the three million barrels per day quota allocated to the country by the Organisation of Petroleum Exporting Countries.Sylva says though the country currently produced about 1.3 million barrels per day, concerted efforts were being made to increase production to meet the OPEC quota.The minister says the Federal Executive Council had mandated the ministry to meet the three million barrels per day production within the shortest time possible.Sylva also disclosed that the rehabilitation of Port-Harcourt Refinery and Petrochemical Company was on course, adding that soon, that of Warri and Kaduna would commence as well.

Minister of State for Petroleum Resources, Chief Timipre Sylva, has assured that Nigeria would meet the three million barrels per day quota allocated to the country by the Organisation of Petroleum Exporting Countries.Sylva says though the country currently produced about 1.3 million barrels per day, concerted efforts were being made to increase production to meet the OPEC quota.The minister says the Federal Executive Council had mandated the ministry to meet the three million barrels per day production within the shortest time possible.Sylva also disclosed that the rehabilitation of Port-Harcourt Refinery and Petrochemical Company was on course, adding that soon, that of Warri and Kaduna would commence as well.

Minister of State for Petroleum Resources, Chief Timipre Sylva, has assured that Nigeria would meet the three million barrels per day quota allocated to the country by the Organisation of Petroleum Exporting Countries.Sylva says though the country currently produced about 1.3 million barrels per day, concerted efforts were being made to increase production to meet the OPEC quota.The minister says the Federal Executive Council had mandated the ministry to meet the three million barrels per day production within the shortest time possible.Sylva also disclosed that the rehabilitation of Port-Harcourt Refinery and Petrochemical Company was on course, adding that soon, that of Warri and Kaduna would commence as well.

Nigeria has written the Organisation of Petroleum Exporting Countries requesting a higher production quota under the OPEC+ accord.The Minister of State, Petroleum Resources, Chief Timipre Sylva, says the technical problems that had hampered the country's output would soon be resolved.Sylva says the country's full production capacity was closer to 2.2 million bpd, which should be reflected in a revised quota, even though Nigeria has struggled to produce at its current allocation.He says that the country deserves a higher quota, noting that aside its efforts to fix the technical difficulties, the basis for the current production quota, which was mainly because of the problems in the Niger Delta at the time, no longer exists.

President Muhammadu Buhari has asked the Senate to amend the Petroleum Industry Act 2021.President Buhari explained that his proposal became necessary having carefully reviewed the administrative structure of both the Nigerian Midstream and Downstream Petroleum Regulatory Authority, and the Nigerian Upstream Regulatory Commission.He listed the three areas of the Act he sought to be amended to include the appointment of non-executive board members, removal of the Ministries of Petroleum Resources and Finance from the boards of the two institutions, as well as the appointment of executive directors.

Nigeria has written the Organisation of Petroleum Exporting Countries requesting a higher production quota under the OPEC+ accord.The Minister of State, Petroleum Resources, Chief Timipre Sylva, says the technical problems that had hampered the country's output would soon be resolved.Sylva says the country's full production capacity was closer to 2.2 million bpd, which should be reflected in a revised quota, even though Nigeria has struggled to produce at its current allocation.He says that the country deserves a higher quota, noting that aside its efforts to fix the technical difficulties, the basis for the current production quota, which was mainly because of the problems in the Niger Delta at the time, no longer exists.

President Muhammadu Buhari has asked the Senate to amend the Petroleum Industry Act 2021.President Buhari explained that his proposal became necessary having carefully reviewed the administrative structure of both the Nigerian Midstream and Downstream Petroleum Regulatory Authority, and the Nigerian Upstream Regulatory Commission.He listed the three areas of the Act he sought to be amended to include the appointment of non-executive board members, removal of the Ministries of Petroleum Resources and Finance from the boards of the two institutions, as well as the appointment of executive directors.

President Muhammadu Buhari has asked the Senate to amend the Petroleum Industry Act 2021.President Buhari explained that his proposal became necessary having carefully reviewed the administrative structure of both the Nigerian Midstream and Downstream Petroleum Regulatory Authority, and the Nigerian Upstream Regulatory Commission.He listed the three areas of the Act he sought to be amended to include the appointment of non-executive board members, removal of the Ministries of Petroleum Resources and Finance from the boards of the two institutions, as well as the appointment of executive directors.

Nigeria has written the Organisation of Petroleum Exporting Countries requesting a higher production quota under the OPEC+ accord.The Minister of State, Petroleum Resources, Chief Timipre Sylva, says the technical problems that had hampered the country's output would soon be resolved.Sylva says the country's full production capacity was closer to 2.2 million bpd, which should be reflected in a revised quota, even though Nigeria has struggled to produce at its current allocation.He says that the country deserves a higher quota, noting that aside its efforts to fix the technical difficulties, the basis for the current production quota, which was mainly because of the problems in the Niger Delta at the time, no longer exists.

The Minister of State for Petroleum Resources, Timipre Sylva says the Nigerian National Petroleum Corporation will become a commercial company within six months.Mr Sylva says a transitional committee is already in place to incorporate NNPC Limited.Mr Sylva noted that although the new petroleum act has deregulated the oil sector, subsidy policies will remain in place till further notice.He says an implementation framework for actual deregulation will be established to mitigate the impact on ordinary Nigerians.

President Muhammadu Buhari will unveil an implementation committee for the Petroleum Industry Act.THISDAY reports that the committee may be chaired by the Minister of State for Petroleum Resources, Mr Timipre Sylva.The committee which has 12 months to carry out its tasks, would be saddled with the responsibility of establishment of Nigeria Upstream Regulatory Commission, Nigeria Midstream and Downstream Regulatory Authority as well as the corporatisation of the Nigerian National Petroleum Corporation to a Limited Liability Company, which will now be called Nigerian National Petroleum Company Limited.The committee would also be tasked with the responsibility of determining the assets and liabilities of the NNPC, which would be transferred to NNPC Limited.

The Department of Petroleum Resources says Investors have proposed to spend over $500m in building gas pipelines and other facilities in Nigeria following the implementation of the Nigerian Gas Transportation Network Code that was launched last year.The Director and Chief Executive Officer, DPR, Mr Sarki Auwalu, says through the implementation of the network code, the DPR was able to improve the much-needed market alignment between critical demand points for gas and available supply opportunities.He says the agency had so far issued 12 shipper licences, with three licences under processing; one transporter licence; and three agent licences.He says the network code had improved investors' confidence in the evolving domestic gas market.

The Federal Government has admitted that it is not in the best position to manage its refineries.Minister of State for Petroleum Resources, Timipre Sylva, stated that they are going to have professional managers to manage the refineries.The minister believes it will not be out of place if the government gets the refineries working before taking appropriate decisions.He explained that the government does not subscribe to the idea of selling off the refineries in their present condition as such action would be widely criticised by citizens.

The federal government pledged its renewed commitment to full compliance with the country's crude oil production quota, which is pegged at 1.554 million barrels per day in June.Minister of State, Petroleum Resources, Mr Timipre Sylva says that rationing production was the right thing to do at the moment.The minister stated that apportioning quotas did not hurt the country's production, adding that if not because of the cartel's intervention, the price of crude oil would still fall below.Sylva says the 1.554 million barrels per day which were allocated to Nigeria for June, excluded condensates, stressing that as of today Nigeria has fully complied without exceeding the total allocated to the country since the OPEC member countries agreed to cut production.He stated that it is the way things work in OPEC wherein every member has to agree on every issue before it can be resolved.

The Nigerian National Petroleum Corporation is been affected by the under-recovery of petroleum-price and it may have begun to affect its operations as the national oil company failed to fund six of its scheduled projects in April.NNPC is also to team up with the Nigeria Extractive Industries Transparency Initiative and the Department of Petroleum Resources to sign an agreement on a framework to ensure greater transparency in the oil and gas industry.The funding performance from January to April, contained in the corporation's presentation to the Federation Account Allocation Committee in May, showed that the gas infrastructure development, frontier exploration services and renewable energy development received zero allocation for the month.The data indicated that with the underfunding of the projects, variance in terms of actual budget and actual funding for five of the projects stood at N26.236 billion.

The organised labour cautioned the National Economic Council against approving a recommendation by the Nigerian Governors’ Forum seeking an N385 pump price for petrol.Their warning came ahead of a National Executive Committee meeting of the Nigeria Labour Congress, scheduled for Abuja tomorrow, to deliberate on the issue.The Minister of State for Petroleum Resources, Mr Timipre Sylva, had however fears of an increase in petrol price, the various states’ chapters of the labour unions vowed to resist the proposed price regime if approved.

Minister of State for Petroleum Resources, Mr Timipre Sylva says the National Assembly will pass the Petroleum Industry Bill which is currently before it by April 2021.He told reporters that the bill would not suffer a setback, going by all indications from the leadership of the National Assembly.The minister stated that if the nation must diversify from petroleum, it must go in the direction of the gas.He stressed the importance for Nigeria to steer away from oil to gas, adding that the 20-year-old PIB would attract a lot of investments to the gas sector.Sylva faulted Senator Dino Melaye’s analysis of the proposed rehabilitation of the Port Harcourt refinery. The minister said the Federal Government remained committed to its promise to deliver a functional refinery to Nigerians in due time.

The House of Representatives has mandated its committee on Petroleum Resources Downstream to organise an investigative hearing to ascertain the true state of the Port Harcourt refinery which the Federal Government has approved the sum of $1.5billion for the rehabilitation.The House also mandated the committee to carry out a comprehensive audit of funds previously spent on the Port Harcourt refinery and other refineries across the country.The lawmakers expressed worry that so much had been spent on maintaining and rehabilitating the refineries but the outputs have barely improved.They also asked the Federal Government to grant licenses and provide incentives for the construction of modular refineries.The Minister of State for Petroleum Resources, Timipre Sylva, who made the announcement after the FEC meeting says the rehabilitation will be carried out in three phases.

The Federal Government says the rehabilitation of the Port Harcourt refinery in Rivers State will not significantly add to the nation’s burden.The Minister of State for Petroleum Resources, Mr Timipre Sylva, doused the concerns that the project would worsen the nation’s debt profile.He stated that the government does not intend to borrow all the funds to rehabilitate the refinery which he said would be functional in 18 months.Sylva disclosed that a subsidiary of the Nigerian National Petroleum Corporation Nigerian Petroleum Development Company Ltd and others would contribute the money to be used for the project.

The federal government unveiled plans to spend $1.5 billion to revamp the Port Harcourt refinery.The FEC also approved N3.07 billion for the procurement of laboratory equipment for the Nigeria Centre for Disease Control centres nationwide as well as the increase in the cost of the repair of the Enugu-Onitsha highway to N8.649 billion.Minister of State for Petroleum Resources, Chief Timipre Sylva, says the contract for the rehabilitation of the refinery was awarded to an Italian company, Tecnimont spa, which is an expert in refinery maintenance, while the funding will be sourced from the Nigerian National Petroleum Corporation (NNPC), Internally Generated Revenue, budgetary allocations provisions and Afreximbank.He added that local content would be fully involved in the final execution of the project.

My guest on today's show is Mr. Obukaroro Ovadje. Obukaroro has a first degree in applied physics. He worked as a geophysicist at the Department of Petroleum Resources.  Obukaroro retired as the Assistant Director, Exploration after 31 years of service. He currently resides in Lagos, Nigeria.Obukaroro shares his heart for people that struggle with living in poverty.  But, he wants to do his part to ending world poverty once and for all.  He cannot do this alone.  However, with your help, it can be done! So, you can reach out to Obukaroro via email:  oovadje@gmail.com 

Chapter 1: In spite of many delayed film releases, the 78th Golden Globes were held virtually last night, with superstar comedians Tina Fey and Amy Poehler hosting together for the fourth time.  Guest: Chris Jancelewicz, Global News Entertainment Journalist. Chapter 2: Building a wall around long-term care homes to protect them from COVID-19 has been instrumental in preventing even more outbreaks than we’ve had.  Vaccines are the next step in protecting our seniors, and we want to highlight a phenomenal program providing people connected to that industry with clear answers about getting inoculated.  Guest: Matt Hacker Teper, medical student at the University of Toronto and the Volunteer Program Manager at COVID-19 Resources Canada. Chapter 3: Donald Trump is back in the limelight after speaking yesterday for the first time since President Joe Biden took office.  Trump addressed a crowd of Republicans at the 2021 Conservative Political Action Conference, repeating claims of election fraud and dispelling rumours he might consider starting his own party.  Guest: Reggie Cecchini, Global News Washington Correspondent. Chapter 4: Some fascinating preliminary data from Stats Canada this morning showing low-income households REALLY benefited from the pandemic support measures put in place by the government. Chapter 5: Some buildings or intersections in Vancouver seem to change every couple of months, but others have been around almost as long as the city itself.  Local photographer John Bentley has a fascinating project called Now and Then that caught our attention, and he joins us this morning with more on how it came to be.  Guest: John Bentley, Vancouver Photographer. Chapter 6 : Billions of dollars in cost overruns and we’re nowhere near completion. Premier John Horgan confirmed Friday that the province will continue with the Site C dam project in Northern B-C, even though the final price tag remains unknown.  Guest: Bruce Ralston, Minister of Energy, Mines and Petroleum Resources. Chapter 7: Unintended consequences from the new federal gun bill, C-21.  People in the popular Airsoft industry say the ban on replica weapons will destroy their sport.  Guest:  Justin Kirkwood, Airsoft In Canada representative for British Columbia, Airsoft event organizer with Omega Ops. Chapter 8: Do you avoid the snack aisle in the grocery store? Why is it so much harder to resist sweet treats when you KNOW they’re in the cupboard?  The author of the hit book Salt, Sugar, Fat, Michael Moss, has a new book out. Hooked: Food Free Will, and how the Food Giants Exploit our Addictions, is all about how we’re manipulated in ways we might not even realize.  Guest: Michael Moss, author of Hooked, and Salt, Sugar, Fat Chapter 9: There’s an astonishing lack of options for people who are diagnosed with A-L-S in B-C. There are over a hundred known therapies for the condition but none of them are available to people who live here.  We’re going to be examining the state of A-L-S treatment here over the next few weeks because it’s a condition affecting thousands of Canadians.  Guest: Brad MacKenzie, Living with ALS and ALS BC Advocacy Committee Chair. See omnystudio.com/listener for privacy information.

The Federal Government, States and Local government Councils in Nigeria shared 601.110 billion naira for the month of November.The Ministry of Finance, Budget and National Planning made the announcement on Wednesday at the end of the Federation Accounts Allocation Committee meeting in Abuja.In a statement, the ministry said the amount share represented the cost of collection to Nigeria Customs Service, Department of Petroleum Resources and the Federal Inland Revenue Service.It said the Federal Government received 215.600 billion naira, states got 171.167 billion naira, while local government councils received 126.789 billion naira.Oil producing states received 31.392 billion naira as 13 per cent derivation from Mineral Revenue, while Cost of Collection/Transfer and Refund was 56.162 billion naira.The communiqué also said Oil and Gas Royalty, Import Duty, Excise Duty, VAT, and Petroleum Profit Tax increased substantially, while Companies Income Tax recorded a sharp drop.In addition, total revenue distributable for the current month was augmented with the sum of 7.867 billion naira drawn from the Forex Equalisation Account.Balance in the Excess Crude Account as at December stands at 72.411 million dollars.

President Muhammadu Buhari on Tuesday will officially roll out the much-awaited National Gas Expansion Programme in Abuja, which is expected to gradually replace or complement the use of petrol by Nigerians.Minister of State for Petroleum Resources, Chief Timipre Sylva, said the event would also herald the formal dispensing of autogas, mainly Compressed Natural Gasand Liquefied Petroleum Gas products at two retail filling stations belonging to the Nigerian National Petroleum Corporation in the Federal Capital Territory.The Special Adviser on Media to the minister, Mr. Garba Muhammad in a statement on Sunday emphasised that the federal government’s autogas programme will deliver at least one million vehicle conversions by the end of 2021 and herald the clean energy transition for Nigeria as well as the delivery of cheap transportation fuel.

The Minister of State for Petroleum Resources, Timipre Sylva on Monday said the Nigerian Government is yet to completely stop subsiding petroleum products in the country.

The Federal Government has explained the rationale behind the recent increase in the pump price of Petrol.Mr Timipre Sylva, the Minister of State for Petroleum Resources, said the hike is as a result of the announcement by an American pharmaceutical company, Pfizer, on its recent breakthrough in the fight against the coronavirus pandemic.He told State House correspondents on Monday in Abuja that the announcement of a COVID-19 vaccine by Pfizer triggered a slight increase in the price of crude oil in the global market.

The Federal Government asked a Milan court on Wednesday to order Eni and Royal Dutch Shell to pay $1.09bn as an immediate advance payment for damages it is claiming in one of the oil industry’s biggest-ever corruption trials. Shell and Eni jointly acquired the rights to Oil Prospecting Licence 245, a Nigerian offshore oil block, for about $1.3bn in 2011 from Malabu Oil and Gas, a company owned by a former Nigerian Minister of Petroleum Resources, Dan Etete. Reuters reported that at a hearing into alleged corruption linked to the oil majors’ acquisition of the OPL 245, Lucio Lucia, lawyer for the Nigerian government, called for a guilty verdict and an advance payment, ahead of any broader damages package set by a court at a later date. The report stated that Lucia did not specify how much Nigeria was seeking in damages overall but said the disputed deal had deprived Abuja of profit oil adding these are massive amounts. --- This episode is sponsored by · Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA Support this podcast: https://anchor.fm/newscast-africa/support

Federal Government don approve the establishment of oil and gas logistics facility for Akwa Ibom State. Na Minister of State for Petroleum Resources, Timipre Sylva say work go soon start for the site of the project. Sylvia say the decision to establish the facility for Akwa Ibom dey strongly influenced by the prevailing peace and security of lives and property for the state.

The Minister of State for Petroleum Resources, Timipre Sylva, said the country needs an oil price of $70 per barrel and a production of two million barrels per day to sustain its budget. Sylva said the production cuts by the Organisation of Petroleum Exporting Countries and its allies had helped to stabilise the oil market, adding that all members of the alliance shared the same commitment to balancing supply and demand. He said that the market is already starting to show signs of rebalancing; it’s stabilising. They believe towards the end of this year, they will see a rebalanced market. The OPEC+ production cuts have helped lift the price of the international oil benchmark, Brent crude, from a low of around $20 per barrel in April. It stood at $44.85 per barrel as of 6:40pm Nigeria time on Thursday. --- This episode is sponsored by · Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA Support this podcast: https://anchor.fm/newscast-africa/support

The federal government has said it will not abandon its plan to concession up to 178 identified flare gas fields through its Nigerian Gas Flare Commercialisation Program (NGFCP) which it initiated in 2018. The Technical Adviser (TA) on Gas Business and Policy Implementation to the Minister of State for Petroleum Resources, Mr. Timipre Sylva, Justice Derefaka, disclosed this during an Interview. Derefaka, who is also the Program Manager for the NGFCP, said the country has been working on the modalities so far, adding that the process of concluding the first phase of the NGFCP was ongoing with the bid rounds. According to the government, the NGFCP was designed as its strategy to eliminate gas flares from oil fields in the country. It noted that with potentially enormous multiplier and development outcomes for Nigeria, the NGFCP will support technically and commercially sustainable gas utilisation projects developed by competent third-party investors. --- This episode is sponsored by · Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA Support this podcast: https://anchor.fm/newscast-africa/support

The federal government has stated its desire to boost investment in Nigeria’s natural gas market with its formal activation of the National Gas Transportation Network Code yesterday. According to the Technical Adviser (TA) on Gas Business and Policy Implementation to the Minister of State for Petroleum Resources, Mr. Timipre Sylva, Justice Derefaka, the launch of the National Gas Transportation Network Code would open a vista of opportunities for investors interested in the country’s gas market. Sylva in February had launched work on the National Gas Transportation Network Code and review of the code’s licensing framework and development of all its ancillary agreements have however been firmed. --- This episode is sponsored by · Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA Support this podcast: https://anchor.fm/newscast-africa/support

The federal government said it is pushing fast for Nigerians to adopt natural gas as an alternative to petrol and diesel for transportation vehicles.It stated that it has set up a committee to drive the adoption of Autogas and natural gas vehicles in the country.Justice Derefaka, who is the Technical Adviser (TA) on Gas Business and Policy Implementation to the Minister of State for Petroleum Resources, Mr. Timipre Sylva, disclosed this in a statement.Derefaka explained that a meeting was recently held in Abuja between the Committee of the National Gas Expansion Programme (NGEP) and some stakeholders in the oil and gas industry, in which the decision to press forward on the mainstreaming of gas for transport in Nigeria was reached.According to him, the NGEP was inaugurated by Sylva in January 2020, as the mechanism to boost domestic utilisation of natural gas within the short and medium term.Learn more about your ad choices. Visit podcastchoices.com/adchoices

President Muhammadu Buhari has approved the reconstitution of Federal Government’s representatives on the boards of the Nigeria (Liquefied Natural Gas) and the Bonny Gas Transport Limited (BGT).The Minister of State for Petroleum Resources, Timipre Sylva, announced this in a statement on Monday.He explained that the reconstitution of the boards became imperative since the present boards members were inaugurated in 2005.According to the minister, there is a need for the injection of fresh ideas into the leadership of the companies.Learn more about your ad choices. Visit megaphone.fm/adchoices

The Minister of State for Petroleum Resources, Timipre Sylva, says the Federal Government had reached a conclusion that it could no longer bear the burden of petrol subsidy.In an Instagram post, Sylva said the Federal Government has concluded that it was unrealistic to continue with the burden of subsidising PMS to the tune of trillions of naira every year, more so because the subsidy is benefiting - in large part - the rich, rather than the poor and ordinary Nigerians.This means market forces will henceforth determine the prices at the pump and the federal government will continue to play its traditional role of regulation to ensure the commodity is not priced arbitrarily by private sector suppliers.Learn more about your ad choices. Visit megaphone.fm/adchoices

The Petroleum Products Pricing Regulatory Agency on Sunday insisted that it would continue fixing price bands for petrol despite opposition by oil marketers to the move. It also declared that a regulation for petrol, had been established in collaboration with the Federal Ministry of Petroleum Resources and the Office of the Attorney-General of the Federation. The Executive Secretary, PPPRA, Abdulkadir Saidu, disclosed this while addressing questions on the PMS pricing regime, which commenced on March 19, 2020. Since the introduction of the regime, marketers had expressed concerns over the issuing of monthly guiding prices for petrol. Saidu argued that different sectors of the economy operate under the guidance of national regulators. He said that while the market-based pricing regime was a policy introduced to free the market of all encumbrances to investment and growth, it should not be misconstrued to mean a total abdication of government’s responsibility to the sector and citizenry. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Federal Government plans to review the prices of gas consumed across the country. The Minister of State for Petroleum Resources, Timipre Sylva, said the move would help deepen the use Liquefied Petroleum Gas, popularly called cooking gas, as well as Compressed Natural Gas. The Federal Government targets to move motorists from the use of petrol to the use of CNG in their respective vehicles. Sylva, according to a statement from his ministry on Tuesday, said the government would continue to push for the use of gas for cooking and in automobiles. He disclosed the plan of government to review the country’s domestic gas pricing framework at the inauguration of a committee that would focus on gas sector review in Nigeria. The minister said the committee would evaluate and review gas prices nationwide in order to align with the current economic realities. Learn more about your ad choices. Visit megaphone.fm/adchoices

Nigeria may face petrol scarcity as oil workers threatens to withdraw their services nationwide should the Federal Government insist on registering employees in the oil sector on the Integrated Payroll and Personnel Information System. The Petroleum and Natural Gas Senior Staff Association of Nigeria and the Nigeria Union of Petroleum and Natural Gas Workers made the threat in a letter addressed to the Minister of State for Petroleum Resources, Timipre Sylva. The unions kicked against plans by the Office of the Accountant-General of the Federation to register oil workers on the IPPIS platform. The unions said their apprehension about the IPPIS platform stemmed from the fact that it discountenanced the peculiarities of the oil and gas sector with regards to collective bargaining agreement and approved pay structure between the unions and the Federal Government. Learn more about your ad choices. Visit megaphone.fm/adchoices

Nigeria's Department of Petroleum Resources has outlined some strategic plans that would guarantee the survival of Nigeria’s oil industry post COVID-19 pandemic. DPR’s Director, Sarki Auwalu, disclosed some of the plans while speaking during a webinar. The DPR boss, in a statement, said “There is no better time for strategic repositioning and business optimisation, adding that there are four ways this can be achieved. He further noted that the DPR embarked on marginal field bid round, policy and regulations, business environment and investment drive, among others, in order to ensure that the sector was beneficially sustained post COVID-19 pandemic. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Department of Petroleum Resources on Thursday said the deadline to register to bid for Nigeria’s marginal oilfields has been extended by a week. The DPR launched the first marginal field award round in nearly 20 years on June 1. Applicants initially had until June 14 to register, but the timeline has been moved to June 21. The DPR, the nation’s petroleum regulator, did not give a reason for the extension. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Department of Petroleum Resources is enforcing the new price range of N121.5 to N123.5/litre for petrol at filling stations across the country and has shut down errant outlets selling above the stipulated rate. It was gathered that all zonal operations controllers of the DPR agreed to inspect and enforce the new price after finding that some filling stations had yet to comply with the regulation on petrol prices. The Zonal Operations Controller, Abubakar Buba while speaking during the inspection of filling stations in Abuja and neighbouring states on Wednesday, said the DPR had also been notified that many outlets were under-dispensing products. He said they are on surveillance to make sure that these marketers don’t cheat the public by selling above the pump price or by under-dispensing and ensuring they don’t divert products to neighbouring states. He said the filling stations of defaulters had been shut by the agency until the companies were ready to comply with the new price. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Federal Government on Tuesday said Nigerian-owned marine vessels for oil and gas sector operations have increased from three per cent to over 40 per cent. The Minister of State for Petroleum Resources, Timipre Sylva, said this in Abuja at the third inaugural ceremony of the Governing Council of the Nigerian Content Development and Monitoring Board. The minister said the board had tried to deepen the practice of Nigerian content in the oil industry while explaining some achievements of the NCDMB since 2010 when it was established. The minister noted that there had been deliberate development of the local supply chain and growth in the number of Nigerian oil and gas service providers. He said unlike before when we had just a few companies, there are currently more than 8,000 service providers and more than 60 operating companies registered on the NCDMB JQS portal. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Federal Government has said oil marketers are not free to fix the price of petrol. A statement in Abuja on Sunday by the Petroleum Products Pricing Regulatory Agency said the government had not conferred on marketers the power to fix petrol price. The PPPRA stressed that the new market-based pricing regime was still in force. The Executive Secretary, PPPRA, Abdulkadir Saidu, said the attention of the agency was drawn to the several media reports that claimed that the government had removed the price cap on PMS and had given marketers the freedom to fix the price of the commodity and sell above the stipulated price. He described this as a misconception, adding that the implementation of a market-based pricing regime was first announced by the Minister of State for Petroleum Resources, Timipre Sylva, in March. He said the published regulation does not confer on marketers the power to fix prices for the product as they deem fit, but rather guiding prices would be advised by the PPPRA according to market realities. Learn more about your ad choices. Visit megaphone.fm/adchoices

The revenue accruable to the Federal Government from the sale of crude oil is estimated to drop by a cumulative sum of about N140bn in May and June this year following oil production cuts by the Organisation of Petroleum Exporting Countries and its allies. OPEC and its allies, a group called OPEC+, decided in April to cut oil output by a record 9.7 million barrels per day to shore up oil prices after they crashed massively following the widespread lockdown measures targeted at halting COVID-19 spread. The Minister of State for Petroleum Resources, Timipre Sylvia, who confirmed the reduction that was done in May, further stated that the country would continue to comply with the agreement of OPEC+. At the 179th Meeting of the OPEC Conference on Saturday, the Secretary General, OPEC, Mohammad Barkindo, explained that the voluntary production adjustments of 9.7 million bpd would be in May and June 2020. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Department of Petroleum Resources has said companies, including their promoters, indebted to the Federal Government will not be allowed to participate in the newly launched bid round for marginal oilfields. The DPR, in a document said applicants should demonstrate the ability to fully meet the objective of undertaking expeditious and efficient development of a marginal field. it added the company shall provide evidence of the ability and willingness to pay the offered signature bonus, if successful. The DPR said consideration would be given for host community/state participation, as well as a commitment to social project and/or proposal aimed at the socioeconomic development of the populace in the host community/state. Learn more about your ad choices. Visit megaphone.fm/adchoices

Data obtained from the Department of Petroleum Resources have shown that the Federal Government may generate at least N3.17bn from the payment of fees for the marginal fields put on offer for bidding. Indigenous oil firms and other investors willing to bid for any of the 57 marginal fields are expected to pay fees amounting to N55.6m per field. The Director-General, Budget Office of the Federation, Ben Akabueze, had said last month that the government would accelerate marginal fields licensing and renewal of expiring oil mining licences as part of measures to augment revenues. The DPR said in addition to the above-listed fees, the signature bonus shall be paid by successful bidders prior to award. According to the guidelines, registration, application and processing fees are to be paid into the Treasury Single Account while the fees for data leasing, data prying, CPR and field-specific report are to be paid into the National Data Repository account, and signature bonuses to be paid into the Federation Account. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Federal Government, through the Department of Petroleum Resources, has put an offer on 57 marginal fields for licensing as part of efforts to develop oil and gas discoveries that had been left unattended to for many years. The DPR disclosed this on Monday while announcing the commencement of the 2020 Marginal Field Bid Round. It said the bid round is open to indigenous companies and investors interested in participating in the exploration and production business in Nigeria. According to the agency, a marginal field is any field that has been discovered and has been left unattended for a period of not less than 10 years. It said the exercise, which would be conducted electronically, would include expression of interest/registration, pre-qualification, technical and commercial bid submission and bid evaluation. The new licensing round is the first marginal field round since 2003. --- This episode is sponsored by · Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA Support this podcast: https://anchor.fm/newscast-africa/support

A global credit ratings agency, Fitch Ratings, has said Nigeria’s compliance with the oil production cut deal led by the Organisation of Petroleum Exporting Countries will lead to deeper economic contraction and fiscal deficits. It also said the development would compound pressures on external finances as a result of the slump in oil prices. The ratings agency stated on Monday that the country’s foreign exchange reserves would fall to $23.3bn by the end of 2020 from $38.6bn in December 2019. It said the increased recourse to concessional multilateral loans would ease near-term liquidity pressures, but the risk of a disruptive macroeconomic adjustment would persist. According to the Minister of State for Petroleum Resources, Timipre Sylva, Nigeria is expected to cut production by 417,000 bpd to 1.41 million bpd in May and June, in addition to condensate production of between 360,000 and 460,000 bpd. --- This episode is sponsored by · Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA Support this podcast: https://anchor.fm/newscast-africa/support

The Federal Government has warned oil and gas firms against the illegal use of manpower supply permits to employ foreigners in the Nigerian oil and gas industry. The Ministry of Interior, the Nigerian Content Development and Monitoring Board and the Department of Petroleum Resources, in a joint statement, said manpower supply companies issued statutory permits to supply only Nigerian professionals were engaged by operators and contractors to supply expatriates. They said the permits clearly indicate that they are not to be used to deploy expatriates under any circumstance or guise. Further stating that It is also a disturbance that operators and major service providers promote this illegal practice by entering into contract agreements with these manpower supply companies to source expatriates for positions earmarked to be occupied by Nigerians. --- This episode is sponsored by · Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA Support this podcast: https://anchor.fm/newscast-africa/support

The Nigerian LNG Limited has awarded the engineering, procurement and construction contracts for its Train 7 project to the SCD JV Consortium, comprising Saipem of Italy, Japan’s Chiyoda and Daewoo of South Korea. The NLNG announced the signing of the contracts at a webinar on Wednesday evening. The company had in September 2019 said that it had issued a Letter of Intent for the EPC contracts to SCD JV Consortium. The Minister of State for Petroleum Resources, Chief Timipre Sylva, said, with the award of the EPC contracts, the construction phase of Train 7 can now commence in earnest. The Managing Director, NLNG, said, it marks yet another milestone in Nigeria LNG’s journey in being a global LNG company helping to build a better Nigeria. The NLNG is jointly owned by the Federal Government, represented by the NNPC, Shell, Total and Eni. --- This episode is sponsored by · Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA Support this podcast: https://anchor.fm/newscast-africa/support

Premier John Horgan is joined by Bruce Ralston, Minister of Energy, Mines and Petroleum Resources, for an announcement and weekly media availability.For more information on supports related to COVID-19 visit http://gov.bc.ca/covid19 #COVIDBC

The Warri Zonal Office of the Department of Petroleum Resources has warned petroleum marketers against hoarding products. DPR's Operations Controller, at Warri office, Antai Asuquo, gave the warning on Monday in Warri during a surveillance by the regulatory agency. Asuquo told newsmen shortly after the exercise that Federal Government had enough products, and warned against panic-buying. He assured that the pump price of petroleum would be adjusted over time. --- Support this podcast: https://anchor.fm/newscast-africa/support Learn more about your ad choices. Visit megaphone.fm/adchoices

There are indications that Nigeria’s compressed natural gas, CNG, deficit may not abate in the near future as inappropriate pricing, poor state of infrastructure and non-existence of a regulating agency are yet to be settled. Outlining these challenges during a visit to NIPCO facilities in Benin, Edo State, Managing Director, NIPCO Gas limited, Sanjay Teotia, stated that the development of CNG, which is also being used to fuel vehicles for profitability and environmental friendliness is being hampered by lack of accessibility to land. He expressed regret that with the enormous gas reserves in the country, the potentials in the sector have not being fully utilised to the benefit of the people. Nigeria, Teotia said, would continue to miss the gains of the deposit of such gas reserves if the challenges are not resolved. He, however, lauded the Federal Government’s National Gas Expansion Programme Committee, which was recently inaugurated by the Minister of State for Petroleum Resources, Chief Timpre Silva, to steer the gas sector for optimal performance. --- Support this podcast: https://anchor.fm/newscast-africa/support Learn more about your ad choices. Visit megaphone.fm/adchoices

The nation’s crude oil reserves of 37 billion barrels, two per cent of which is being produced annually, will be depleted in 49 years, according to the Department of Petroleum Resources. The reserves, which stood at 37.45 billion barrels in 2014, fell to 37.06 billion barrels in 2015 and 36.74 billion barrels in 2016. It, however, rose to 36.97 billion barrels in 2017 and 37 billion barrels in 2018, the DPR data showed. The nation’s depletion rate and life index are 2.04 per cent and 49.03 years respectively,” the regulator said. The reserves depletion rate is a measure of 2018 total oil and condensate production divided by the reserves as of January 1, 2019, according to the DPR. It said, “This indicator gives a bird’s eye on an annual basis, what percentage proportion of the quoted reserves was produced. “The life index, on the other hand, is a measure of the reserves as of January 1, 2019, divided by the total production in 2018. This parameter highlights how long (in years) quoted reserves volumes will be available for production.” The DPR said to achieve the government’s aspiration of four million barrels per day production and reserves of 40 billion barrels, “there is a need for corresponding increase in reserves as production increases.” He noted that if that was not done, “the life index will fall from a sustainable long-term threshold to a less futuristic and sustainable medium to short-term range.” The nation’s oil and gas production structure is majorly split between Joint Ventures onshore and in shallow water with foreign and local companies, and the Production Sharing Contracts in deepwater offshore, to which most of the international oil companies have shifted their focus in recent years. --- Support this podcast: https://anchor.fm/newscast-africa/support Learn more about your ad choices. Visit megaphone.fm/adchoices

The federal government has identified 45 out of 178 gas flaring sites in the country, which will be awarded to successful bidders for the commencement of the first phase of the National Gas Flare Commercialisation Programme (NGFCP). However, some of the bidders have expressed reservations over alleged anomalies in the programme’s bidding process. The Director of the Department of Petroleum Resources (DPR), Mr. Sarki Auwalu, gave details of the programme yesterday at a bidders’ conference in Lagos. The programme was launched in December 2016 by the then Minister of State for Petroleum Resources, Dr. Ibe Kachukwu, to offer gas for sale by the federal government through a transparent and competitive bidding process, with a structure devised to provide project bankability for the flare gas buyers. Speaking to journalists on the sidelines of the bidders’ conference, Auwalu said the 200 bidders would be competing among themselves over the 45 flare points. There are 200 bidders that have been shortlisted. Over 800 bid and we looked at the capacity, the quantity, the quality of what they have. He said the process for the emergence of the preferred bidders was ongoing, adding that it would take them 60 days to evaluate proposals of the bidders based on certain criteria. --- Support this podcast: https://anchor.fm/newscast-africa/support Learn more about your ad choices. Visit megaphone.fm/adchoices

Topics discussed on the show this week include the Supreme Court of Canada refusing an application by the City of Victoria for leave to appeal a decision by the BC Court of Appeal that the city lacked jurisdiction to ban plastic bags.In addition, various politicians have mischaracterized the nature of an interim injunction prohibiting blockades, and other self-help remedies, by individuals opposed to the construction of a natural gas pipeline.A federal Green Party member of parliament suggested that the premier of BC, or the Prime Minister of Canada, should “call off the RCMP” from enforcing the injunction. Neither the premier nor the prime minister, have the authority to “call off” the RCMP. Because protesters had not voluntarily complied with a previous injunction, imposed a year ago, the BC Supreme Court judge hearing the case ordered the RCMP to enforce the injunction against physically blocking construction. The obligation of the RCMP to prevent protesters from blocking the construction of the pipeline is a result of the court order and not a political decision. A number of young people, who apparently misunderstood who had the authority to decide how the matter was going to proceed, occupied the Ministry of Energy, Mines & Petroleum Resources building in Victoria. After fifteen hours, the police carried the protesters out of the building and released them without charges. In this context, a City of Victoria Councillor unfairly alleged that “there is always a high risk that police will use violence” when dealing with protesters. What appears to be either uninformed or politically motivated, mischaracterizations of the court-ordered injunction are most unfortunate.It would be wise for anyone who is inclined to wade into the pipeline issue, the role of the elected first nations representatives, Wet’suwet’en hereditary chiefs, the RCMP, or the government, to actually read the judge’s reasons for judgment.The background, context and reasons really do matter. Finally, a tribute to Ted Hughes, the former judge, and lawyer, who passed away on January 17, at age 92, after making a numerous contribution to the Canadian legal system. Follow this link for a transcript of the show and links to the cases discussed, including the judge's reasons for issuing the injunction.

The Federal Government on Thursday said it would crash the price of petrol by providing Compressed Natural Gas as an alternative source of fuel for vehicles nationwide.The CNG is a fuel that can be used in the place of Premium Motor Spirit, popularly known as petrol. It can also be used in the place of diesel and Liquefied Petroleum Gas.The minister of state for petroleum resources, Timbre Sylva, Speaking on what the Federal Ministry of Petroleum Resources would work on this year during a press conference in Abuja, stated that the Federal Government was working for the passage of the Petroleum Industry Bill before May.He further stated that moves by the Federal Government to recover $62bn from international oil companies were seemingly impossible, as no such money was sitting anywhere to be harvested by the country.Sylva declared that the Nigerian oil and gas sector was retrogressing, particularly when compared to the oil sector of other nations and the use of petrol had caused a serious drain on the finances of the Federal Government as a result of the continued subsidy on the commodity.The minister said findings by the government showed that the CNG cost less than the subsidized PMS and that once the CNG was fully deployed, the price of fuel would crash stating that the subsidized rate of the PMS per liter is N145 but the CNG cost between N95 to N97 per liter.He said Nigeria had abundant gas and that deploying the CNG would not be tough for the country.The minister further stated that recovering $62bn from international oil companies by the government based on an October 17 judgment of the Supreme Court is vain, Stating that it is practically impossible to recoup such funds from the IOCs. --- Support this podcast: https://anchor.fm/newscast-africa/support Learn more about your ad choices. Visit megaphone.fm/adchoices

As reported by Business Day Nigeria, Oil and gas companies in Nigeria are now required to obtain the approval of the Minister of Petroleum Resources, through the Department of Petroleum Resources (DPR), before they can remove any staff from their employment. This is according to new guidelines approved by President Muhammadu Buhari, who doubles as Minister of Petroleum Resources. Failure to comply with this directive attracts a penalty of $250,000. In addition, any permit, license or lease granted to that company may be withdrawn or canceled by the DPR. In letters issued by the DPR to oil companies in Nigeria, the agency informed them that Regulation 60b of the Petroleum (Drilling and Production) Amendment Regulations 2019 was recently reviewed and signed into law by the president of the Federal Republic of Nigeria. Read More on BusinessDay  --- Send in a voice message: https://anchor.fm/africabusinessnews/message Support this podcast: https://anchor.fm/africabusinessnews/support

As reported by Business Day Nigeria, Oil and gas companies in Nigeria are now required to obtain the approval of the Minister of Petroleum Resources, through the Department of Petroleum Resources (DPR), before they can remove any staff from their employment.This is according to new guidelines approved by President Muhammadu Buhari, who doubles as Minister of Petroleum Resources. Failure to comply with this directive attracts a penalty of $250,000. In addition, any permit, license or lease granted to that company may be withdrawn or canceled by the DPR.In letters issued by the DPR to oil companies in Nigeria, the agency informed them that Regulation 60b of the Petroleum (Drilling and Production) Amendment Regulations 2019 was recently reviewed and signed into law by the president of the Federal Republic of Nigeria.Read More on BusinessDay --- Send in a voice message: https://anchor.fm/africabusinessnews/messageSupport this podcast: https://anchor.fm/africabusinessnews/support --- Send in a voice message: https://anchor.fm/africabusinessnews/message Support this podcast: https://anchor.fm/africabusinessnews/support

The House of Representatives yesterday called on the Nigeria Customs Service to lift the ban on the delivery of petroleum products to filling stations located 20km from land borders. This followed the adoption of a motion by Sada Soli Jibiya (APC, Katsina) who cited negative effects of the ban on people living in the areas. Hibiya said the directive had brought more hardships to Nigerians living in the border communities. According to him, the directive also contradicts the laws establishing the Nigeria Customs Service. He said: "The directive is tantamount to the Nigeria Customs Service exercising powers that violate the provisions of the Customs and Exercise Act as amended". Hibiya, whose constituency is located along the border between Nigeria and Niger, said the directive "will no doubt increase the suffering of Nigerians living in the border areas who are already feeling the impact of the border closure more than the rest of the country", He also expressed concern that "no alternative provision has been made to cater for the needs of the border communities, knowing fully how dependent the Nigerian economy is on petroleum products". According to him, the Department of Petroleum Resources, whose statutory duty is to regulate the supply of petroleum, is yet to make any statement or clarification on the issue. --- Support this podcast: https://anchor.fm/newscast-africa/support Learn more about your ad choices. Visit megaphone.fm/adchoices

In a bid to resuscitate Nigeria’s moribund refineries, the Minister of State for Petroleum Resources, Timipre Sylva has announced that the Warri and Kaduna refineries would be repaired in the first half of next year. Sylva hinted that the refineries would not only be repaired but their capacities would also be increased to support the rapid infrastructural development in the sector. The Minister assured the public of the intention of the Federal Government to fast-track the passage of the Petroleum Industry Bill (PIGB) which would in turn bring about a regulated tariff, open access to pipeline and terminals, a focused regulatory agency, introduction of transportation network code as well as many other benefits to the oil and gas sector. In addition, the Minister noted that the Ministry was envisaging a public-private partnership in the downstream sector which would assist the nation in managing its pipeline infrastructure and depots. Sylva promised to set up the necessary framework that would encourage this partnership while aggressively pursuing the commercialisation of gas flaring. --- Support this podcast: https://anchor.fm/newscast-africa/support Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode features the provincial mining panel discussion from The Northern Miner's annual Canadian Mining Symposium held at Canada House in London, U.K., earlier this year. The panel consisted of Chad Norman Day, President, Tahltan Central Government; Steve Burleton, President and CEO, GT Gold; Dave Nikolejsin, Deputy Minister, Province of British Columbia, Ministry of Energy, Mines and Petroleum Resources; and Walter Coles Jr., President and CEO, Skeena Resources. The panel moderator was Mining.com executive editor Frik Els. Also, the latest news on social media and the website with this week's host, online editor Adrian Pocobelli. Music Credits: “Rattlesnake Railroad”, “Big Western Sky”, “Western Adventure” and “Battle on the Western Frontier” by Brett Van Donsel (www.incompetech.com). Licensed under Creative Commons: By Attribution 4.0 License creativecommons.org/licenses/by/4.0/

Minister of State for Petroleum Resources, Timipre Sylva has disclosed that it is imperative for the Federal Government to reduce the cost of production of its crude oil. While playing host to the Country Chair/Managing Director, Total Exploration and Production, Nigeria, Mike Sangster, who led a delegation from his company, Sylva revealed that the losses in the oil and gas sector has made the country a laughing stock. He stated that he expected Nigeria to be producing nothing less than 4 million barrels of crude oil per day. He decried the situation where the country was still hovering between 2 million and 2.2 million and frowned on the unwarranted practice perpetuated by some international oil companies that sold the country’s assets.Nigeria as the largest oil producer in Africa and with hydrocarbon prospects among the brightest in the world. Paul McGrath, the Chairman/Managing Director, ExxonMobil Affiliate Companies in Nigeria has said that Nigeria ranks significantly among the top 10 oil-producing countries with the highest crude oil production cost per barrel. The average production cost for a barrel of crude oil in Nigeria has declined from $78 per barrel as at August 2015, to $23 per barrel.--- Support this podcast: https://anchor.fm/newscast-africa/support --- Support this podcast: https://anchor.fm/newscast-africa/support Learn more about your ad choices. Visit megaphone.fm/adchoices

The Permanent Secretary, Ministry of Petroleum Resources, Dr. Folasade Yemi-Esan has said the Ministry of is gearing up for the hosting of the next edition of Nigeria Petroleum Summit NIPS which will hold between 9th to 13th February 2020 on behalf of the Federal Government. The event which will hold in Abuja, Nigeria, is a convergence of experts from different sectors such as the automobile, banking and finance, power (electricity), pipelines, LNG, infrastructure, engineering and construction, amongst others, from within, and outside the Nigeria. The theme for the conference is “Widening the Integration Circle: Technology, Knowledge, Sustainability and Partnership” --- Support this podcast: https://anchor.fm/newscast-africa/support Learn more about your ad choices. Visit megaphone.fm/adchoices

Dr. Sharheen Madros is the Executive Director of Malaysia Petroleum Resources Corporation (MPRC), a government-linked company (GLC) with a mandate to promote, catalyze, and transform Malaysia’s oil and gas services sector. He spoke with The Prospect Group about how MPRC will implement strategy, the role of energy in the Malaysian economy, and the country’s energy service expansion goals.