Nigerian petroleum agency announces new gas price for strategic sector

  • 📰 PremiumTimesng
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 78%

Nigeria Headlines News

Nigeria Latest News,Nigeria Headlines

“The Petroleum Industry Act (PIA) 2021 assented to by the President on the 16th of August 2021 and gazetted on the 27th of August 2021 provides a clear regulatory framework for the determination of a market-based pricing regime for the domestic gas market in Nigeria,” Mr Ahmed said.

INVESTIGATION: Beautiful infrastructure but poor staffing, lack of drugs hinder PHC services in Borno communitiesEXCLUSIVE: Top Nigeria Customs officers enmeshed in multi-billion naira corruption scandalINVESTIGATION: How Nigerian soldiers killed unarmed civilians in Kaduna community

Announcing the establishment of the 2024 DBP, the agency in a letter signed by its Chief Executive, Farouk Ahmed, set the gas-to-Mr Ahmed, in a letter titled ‘Announcement on Establishment of the Year 2024 Domestic Base Price and Applicable Wholesale Price of Natural Gas for the Strategic Sectors’, said the Petroleum Industry Act 2021 assented to by the President on 16 August 2021 and gazetted on 27 August 2021, provides a clear regulatory framework for the determination of a market-based...

Mr Ahmed said the price of natural gas must be of a level to bring forward sufficient natural gas supplies for the domestic market on a voluntary basis by the upstream producers. Commending investors in the domestic gas market sector, the agency assured of its commitment to deepening the domestic gas market.


Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tinubu’ll attend burial of 17 soldiers unlike Buhari who failed in 2018, 2021The Presidency has confirmed that President Bola Tinubu will attend the burial ceremony of 17 military personnel killed in Delta State. Tinubu's Special Adviser on Information and Strategy, Bayo Onanuga, said unlike former President Muhammadu Buhari who failed to attend burial of slain soldiers in 2021 and 2018, Tinubu will be attending.
Source: DailyPostNGR - 🏆 11. / 59 Read more »

Nigerian Navy Destroys Illegal Refining Sites and Seizes Stolen CrudeThe Nigerian Navy Forward Operating Base (FOB) Formoso, in Brass Local Council of Bayelsa State, has destroyed three illegal refining sites and one large wooden boat laden with about 160,000 litres of products suspected to be stolen crude.
Source: GuardianNigeria - 🏆 1. / 94 Read more »

Nigerian Navy arrests 13 crew members on Ghanaian vesselThe Nigerian Navy has arrested 13 crew members on board a Ghanaian owned and registered vessel for attempting to steal the nation's natural resources. The arrest was made during the newly launched Operation Delta Sanity, after the vessel switched off its Automatic Identification System (AIS) to evade detection.
Source: GuardianNigeria - 🏆 1. / 94 Read more »

Advancing technological capabilities: Harnessing AI for sustainable growth in Nigerian financial institutionsThe technological landscape of Nigeria's financial institutions is marked by both promise and challenges. While significant progress has been made in digitization efforts, the adoption of advanced technologies like artificial intelligence (AI) remains relatively low.
Source: GuardianNigeria - 🏆 1. / 94 Read more »

Operator advocates local cloud hosting for Nigerian businessesA local operator, Layer3Cloud, has advocated local cloud hosting for Nigerian businesses. Layer3Cloud said in today’s digital landscape,
Source: GuardianNigeria - 🏆 1. / 94 Read more »

Simba Solar launches Talegent Series to solar power Nigerian homesSimba Group, a leader in renewable energy, has unveiled the Simba Solar ‘Talegent’ Series of solutions. This latest offering is designed to simplify the switch to solar energy for homes across Nigeria.
Source: DailyPostNGR - 🏆 11. / 59 Read more »