• We will find the formula for peace in Niger Delta by 2017, Kachikwu declares

    We will find the formula for peace in Niger Delta by 2017, Kachikwu declares

    Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, has declared at the Liquefied Natural Gas (LNG) Producer-Consumer conference in Tokyo, Japan, that Nigeria would find the formula for peace in the Niger Delta region of the country by 2017.

    Kachikwu said Nigeria was at 2.1 million barrels of oil production per day, before the renewed hostilities by the Niger Delta Avengers (NDA).

    Speaking to Bloomberg on the “turmoil” in the region, Kachikwu said: “Well, I won’t call it turmoil anymore, I […]

  • Kachikwu to appear before Senate over $15 billion oil deals

    Kachikwu to appear before Senate over $15 billion oil deals

    In light of the signing of oil deals totalling $115 billion, the Senate yesterday decided to summon the Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, to throw light on the deals.

    Kachikwu will be addressing issues concerning the $15 billion proposed Memorandum of Understanding (MoU) with the Indian government in the oil and gas sector.

    The minister will also explain the details of the over $80 billion MoU he signed with Chinese firms in the same sector.
    Apart from the $80 billion deal, the […]

  • Senate to summon Kachikwu over Nigeria’s $115bn China and India deals

    Senate to summon Kachikwu over Nigeria’s $115bn China and India deals

    It was gathered that the Senate on Tuesday said it will probe into Nigeria’s recent oil deal with India, which worths over $80bn and another with China worth $15bn, with an additional $20bn deal with China’s two biggest petroleum companies.

    The upper chamber of the National Assembly has therefore mandated its Committees on Petroleum (Upstream), Petroleum (Downstream), Petroleum (Gas) and Foreign Affairs to summon the Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, to explain the details of the deals.

    The […]

  • Cost of Nigeria’s crude oil production too high -Kachikwu

    Cost of Nigeria’s crude oil production too high -Kachikwu

    The Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, has described Nigeria’s cost of producing a barrel of crude oil at $27 per barrel as too expensive, emphasizing that such a high cost cannot be sustained at a time of instability in the global oil market.

    Mr Kachikwu speaking at the stakeholders’ consultative forum on the draft National Gas Policy and National Oil Policy in Abuja, stated that crude oil is still produced at $27 per barrel in Nigeria, adding […]

  • We will move Nigeria beyond oil export, says Kachikwu

    We will move Nigeria beyond oil export, says Kachikwu

    According to reports, the Minister of State for Petroleum Resources, Dr Emmanuel Ibe Kachikwu, says Nigeria will move beyond oil export and improve its economy.

    Kachikwu, who said this in the 2016 Nigerian National Petroleum Draft Policy, also clarified that the aim of restructuring the sector was to ensure efficiency and business enhancement.

    “Our vision is to move Nigeria beyond crude oil exports into value added activities in oil, namely refining and petrochemical industries.

    “The vision is also to expand from oil into […]

  • NNPC boss removes Deen as spokesman, scraps unit set up by Kachikwu

    NNPC boss removes Deen as spokesman, scraps unit set up by Kachikwu

    According to reports, the Nigerian National Petroleum Corporation (NNPC) has effected a major shake-up within the organization.

    About 109 Management staff were promoted, while 24 were redeployment.

    The shake-up saw the return of veteran journalist, Ndu Ughamadu as Group General Manager, Group Public Affairs Division. He takes over from Garba Deen Muhammad, who recently denied reports that NNPC was planning to increase fuel pump price.

    Ughamadu was NNPC’s Group General Manager (GGM) Government and Labour Relations before his new appointment.

    He served as the […]

  • Kachikwu condemns Niger Delta Avengers’ renewed attacks

    Kachikwu condemns Niger Delta Avengers’ renewed attacks

    According to reports, the Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu, has expressed government’s disappointment at the spate of attacks on Forcados export pipeline by armed militant groups despite the ongoing dialogue with leaders of the region.

    The Niger Delta Avengers, NDA, the militant group that has claimed responsibility for most attacks on oil facilities in the region in recent times, said it carried out another attack on the Forcados Export Pipeline in Delta State on Tuesday night.

    The attack […]

  • Security challenges in Niger Delta over soon – Kachikwu assures Nigerians

    Security challenges in Niger Delta over soon – Kachikwu assures Nigerians

    According to reports, the Minister of State for Petroleum, Dr Emmanuel Ibe Kachikwu, has assured Nigerians that the security challenges in the Niger Delta will soon be resolved.

    Kachikwu gave the assurance in Abuja on Friday in a statement signed by the ministry’s Director of Press and Public Relations, Mr Idang Alibi.

    The minister, according to the statement, observed that three attacks had taken place in the last two weeks, including Wednesday’s Forcados bombing, in spite of efforts being made to promote […]

  • Petrol price hike not on the cards, says Kachikwu

    Petrol price hike not on the cards, says Kachikwu

    According to reports, the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, has said the federal government is not about to increase the price of petrol in the country, at least not in the near future.

    Kachikwu, instead, said the government would review some of the elements in the pricing template of the Petroleum Products Pricing Regulatory Agency (PPPRA), which are still within its control with operators in the downstream sector to ensure that the price remains in line […]

  • No hike in fuel pump price, says Kachikwu

    No hike in fuel pump price, says Kachikwu

    According to reports, the Minister of State for Petroleum, Dr. Emmanuel Ibe Kachikwu, has dismissed insinuations of any increment in the pump prices of Premium Motor Spirit, PMS, popularly called petrol.

    The dismissal came on the heels of widespread panic in Abuja yesterday that major petrol stations, including the retail outlets of the Nigerian National Petroleum Cooperation, NNPC, had jerked up their pump prices from the official N145 to N149 per litre.

    Kachikwu, who was approached by our reporter at the end […]

  • Gas Will Generate More Revenue Soon – Kachikwu assures

    Gas Will Generate More Revenue Soon – Kachikwu assures

    According to reports, the Minister of State for Petroleum, Dr Ibe Kachikwu, on Monday said Federal Government would give more attention to the development of gas as a major revenue earner for Nigeria.

    Kachikwu, who stated this in Abuja at the 10th Nigerian Gas Association International Conference, said that the country was determined to reverse its over-dependence on oil as benchmark for the economy.

    The theme of the conference is “Nigerian Gas Roadmap and Its Potential for Regional and Global Influence: Its […]