Index to Nigerian Newspapers

President Muhammadu Buhari has appointed Senator Margrey Chuba-Okadigbo as Board Chairman of NNPC, replacing Senator Ifeanyi Ararume. Other board members include Mele Kolo Kyari, Umar Ajiya, Dr. Tajudeen Umar, Mrs. Lami Ahmed, Mallam Mohammed Lawal, Henry Obih, Constance Harry Marshal, and Chief Pius Akinyelure. The PDP has described the appointment of Dr. Doyin Salami as a "scapegoat" for the APC government's failures. The main opposition party, the APC, has appointed Executive Commissioners of the Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Midstream and Downstream Petroleum Regulatory Authority. These include Francis Alabo Ogaree, Mustapha Lamorde, Mansur Kuliya, Bashir Sadiq, and Dr. Zainab Gobir. New council members for the Midstream and Downstream Infrastructure Fund include Effiong Abia, Bobboi Ahmed, and Abdullahi Bukar.

militants and pirates engaging in oil theft across different locations in the south-south region of the country have fled their various camps following airstrike bombardment rained on them by the troops of the Nigerian Air Force attached to operation Delta safe. the air component of the operation on friday, August 25, identified some camps named Big joes' camp, sunnys' camp and David camp all in the Bakassi local government Area of cross River state as well as Amos camps in calabar south local government area of the state. NAF s' spokeman, Edward Gabkwet, an Air commodore, who disclosed this sunday, said the airstrikes were authorised after confirming that those locations were littered with criminals carrying out their nefarious activities. He observed to  be loaded with illegally refined products and heading into open waters was also engaged and destroyed.

militants and pirates engaging in oil theft across different locations in the south-south region of the country have fled their various camps following airstrike bombardment rained on them by the troops of the Nigerian Air Force attached to operation Delta safe. the air component of the operation on friday, August 25, identified some camps named Big joes' camp, sunnys' camp and David camp all in the Bakassi local government Area of cross River state as well as Amos camps in calabar south local government area of the state. NAF s' spokeman, Edward Gabkwet, an Air commodore, who disclosed this sunday, said the airstrikes were authorised after confirming that those locations were littered with criminals carrying out their nefarious activities. He observed to  be loaded with illegally refined products and heading into open waters was also engaged and destroyed.

Oil prices rose for the seventh consecutive week, the longest streak since 2022, due to the International Energy Agency's forecast of record global demand and tightening supplies. Brent crude futures rose 41 cents to settle at $86.81 a barrel, while U.S. West Texas Intermediate crude futures gained 37 cents to settle at $83.19. The IEA estimated that global oil demand reached a record 103 million barrels per day in June and could scale another peak this month. OPEC expects global oil demand to rise by 2.44 million barrels per day this year, with healthy prospects for the second half of the year. US economic data also lifted market sentiment, fueling speculation that the Federal Reserve is nearing the end of aggressive rate hikes.

one person has reportedly died while three others went missing after an oil rig, majestic near Ovhor, collapsed in Delta state on Tuesday. The PUNCH gathered that the swamp drilling rig, operated by a Nigerian oil firm ,Depthwize, collapsed in the early hours of tuesday. the rig was contracted by the seplat /Nigerian National petroleum company limited joint vventure when the incident occurred. The rig was in transit to its planned drilling location at Ovhor in Delta state when it collapsed.Our utmost priority will continue to be the safety and well being of all the affected personnel and their families.we will provide further details as our understanding of the incident develops. A Detailed investigation into the cause of the accident will follow.

The Organization of Petroleum Exporting Countries (OPEC) Monthly Oil Market Report (MOMR) showed that Nigeria's production in December was lower than expected, with the country's rig count dropping further to six from seven. Despite a projected 1.86 million barrels daily oil production in the 2021 budget, Nigeria recorded a deficit of almost 200 million barrels in the first 11 months of 2021 due to production challenges. OPEC has left unchanged its world oil demand growth projections for 2022, signalling the potential impact of the Covid-19 Omicron variant and uncertainty over global inflation levels, supply bottlenecks, trade disputes and appetite for transport fuels. It also kept its non-OPEC liquids output growth forecast unchanged at 3.02mn b/d.

Nigeria's Petroleum Industry Act (PIA) has faced administrative challenges, inadequate funding, infrastructure, and limited collaboration among stakeholders. The legislation aims to increase restructuring, investments, improved operations, and transparency in the oil and gas industry. However, the implementation of the Environmental Remediation Fund and Environmental Management Plan is still pending stakeholders' alignment. The Nigerian Upstream Decommissioning and Abandonment Regulations 2023 are also undergoing gazetting stage, while the administration of economic interest securities is awaiting stakeholders' alignment. The delay in implementing the legislation has hindered the full delivery of expected benefits to Nigeria's oil and gas industry and economy. The rig count in Nigeria remains stagnant compared to other African nations, such as Algeria and Libya.