The Nation Newspaper Senate to summon NNPCL’s GMD, Kyari, over 60% fund for frontier acreages
The chairman of the Senate Committee on Gas, Senator Jarigbe Agom Jarigbe, gave this hint while briefing the press after a closed-door session with the Chief Executive Officer of Nigerian Upstream Petroleum Regulatory Commission , Gbenga Komolafe, and his management team in Abuja.
The PIA further provides that the Fund, constituting 30% of NNPCL’s “profit oil and profit gas” from various contracts, will be used to finance exploration and development activities in the frontier acreages. “Also, section 22 subsection 1 of the Petroleum Industrial Act also provides that the National Assembly oversights the budget and expenditure of the NUPRC.
“Aside from the fact that gas has been recognised as a transition fuel and for us in the commission, we focus on rapping up our gas production.” He said: “From our dashboard, we recorded 206 tcl of gas last year, and in this year it grew to 208 tcl reserve as of September. He noted: “The commission at the moment is trying to look at fields that have undeveloped gas opportunities, and as an internal initiative; we have been able to identify all those fields of uncommitted gas.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Senate alters CBN Act to bar governor, deputies from politicsThe Senate yesterday considered two bills seeking to ban the governor of the Central Bank of Nigeria (CBN) and deputy governors of the apex bank from participating in politics.
Read more »
Senate Committee assures support for army to curb insecurityThe Latest news in Nigeria and world news. The Guardian Nigeria Newspaper brings you the latest headlines, opinions, political news, business reports and international news.
Read more »
Senate begins screening of Tinubu’s ICPC Chairman nominee, othersA Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc
Read more »
Senate begins screening of Musa Aliyu as ICPC chairmanPresident Bola Tinubu appointed Mr Aliyu as the ICPC chairman on Tuesday last week.
Read more »
Senate begins screening of ICPC chair nominee AliyuThe Senate has begun screening Musa Aliyu, a nominee of President Bola Ahmed Tinubu for appointment as chairman of the Independent Corrupt...
Read more »
Residents of late Senate President’s community raise alarm over collapse of access bridgeResidents of Kakwu and Basang communities of Basang Ward in Obanliku Local Government Area, Cross River State, where former Senate President, Dr Joe Wayas hailed from, have cried out over the collapse of the only access bridge linking the towns to other communities.
Read more »