Posts Tagged ‘Emmanuel Kachikwu Ibe’

Drilling For Oil in Chad Basin to Begin this Year – Kachikwu

The Minister of State Petroleum Resources, Dr. Ibe Kachikwu, has disclosed that the drilling for petroleum in the Lake Chad Basin will commence by the last quarter of 2016. Kachikwu said that the commitment of the Federal Government and the Nigerian National Petroleum Corporation (NNPC) to explore for oil and gas in the inland basins, […]

NNPC To Be Broken Into 30 Separate Units

Nigeria will break up its state-owned oil company into 30 separate units within weeks in a bid to reform the unprofitable entity, Managing Director Emmanuel Kachikwu said. Each company will have its own managing director and the Nigerian National Petroleum Corp. should become profitable by the end of the year, Kachikwu, who is also the […]

Buhari gives Green Light to Revamp Joint Ventures

President Muhammadu Buhari has taken his first steps towards overhauling the country’s troubled state oil firm by giving its exploration joint ventures control over their own budgets as a way to overcome chronic cash shortages. Corruption and mismanagement at the Nigerian National Petroleum Corporation have hampered an industry that provides 70 percent of state income. […]