DPR targets $500m from marginal oilfield sale

marginal oilfield sale

DPR targets $500m from marginal oilfield sale   The Department of Petroleum Resources (DPR) says it plans to generate about $500 million from the sale of the ongoing marginal field bid round. Aside this, for the first time in the nation’s history, the successful bidders would be allowed to pay the acquisition cost of the oilfields in naira. With this disclosure, funding of Nigeria’s 2021 budget of N13.6 trillion may have gotten a soft landing as part of the $500 million revenue from oilfield sale would provide a soft landing…

Read more

DPR to partner oil producers for business sustainability

oil producers

The Director of Petroleum Resources (DPR), Sarki Auwalu, has promised to collaborate with the oil producers trade section (OPTS) of the Lagos Chamber of Commerce and Industry (LCCI) for business sustainability in the oil and gas industry and to create wealth for the economy. Auwalu assured that the agency would help in facilitating cost effective operations for the oil and gas sector through sound policy initiatives. He stated this when he received the OPTS delegation who paid a working visit to DPR in Lagos on Tuesday. He said DPR would…

Read more

Post Pandemic: DPR charts plans for Nigeria’s oil sector survival

Nigeria’s oil sector regulator, Department of Petroleum Resources (DPR) has released strategic plan and policy for the survival and success of the industry post COVID-19. Engr. Sarki Auwalu, Director/CEO of the agency, , who made this known in a Keynote Address at the Webinar organised by Future Energy Leaders Nigeria (FEL) entitled; “Nigeria Oil & Gas Sector: Surviving and Thriving Post COVID –19,” underscored four key areas the country is deploying to stay afloat despite troubles and threats posed by the Coronavirus pandemic to the economy. “There is no better…

Read more