Latest Oil & Gas News Roundup For November 20 - November 27, 2022

We're glad you're here for the most recent Oil & Gas News collections, where we swiftly present the most interesting AllNews stories from the previous week.

Cooking Gas Prices Increased By 0.2 Per Cent In October 2022 - NBS

The average cost of 5 kg of cooking gas increased by 0.21 % from N4,474.48 in September to N4,483.75 in October.

The National Bureau of Statistics (NBS) released its "Cooking Gas Price Watch" report for October 2022 on Monday in Abuja, which includes the increased price. Read more here.

DAPPMAN Expresses Worry Over FG's New Tax Structure

The Federal Government's planned additional 0.5% tax on the gross turnover of petroleum marketing enterprises has drawn criticism from the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN).

At the first Platforms Africa Continental Forum in Lagos, Olufemi Adewole, the Executive Secretary of DAPPMAN, stated that the tax will drive many businesses out of business. Read more here.

Buhari Inaugurates One Billion Barrels Of Kolmani Oil Deposits In North East

President Muhammadu Buhari on Tuesday officially opened the Kolmani Integrated Development Project in the Kolmani River II Oil Field, which is situated in a border town between the states of Bauchi and Gombe.

Buhari expressed happiness over the discovery of 500 billion cubic feet of gas and over one billion barrels of oil in the Kolmani area, as well as the enormous potential for more deposits since exploration efforts had been stepped up. Read more here.

Kolmani Oil Project: We Have Attracted Over $3 Billion Investment – Buhari

In an era when there is practically no interest in investing in fossil fuels, President Muhammadu Buhari claims that his administration has received over US$3 billion in investment.

In a statement, Femi Adesina, the President's spokesman, said Buhari made this statement during the Kolmani Integrated Development Project's inauguration on Tuesday in Bauchi. Read more here.

FG To Increase Oil Reserves To 40 Billion Barrels By 2025 – Sylva

Chief Timipre Silva, the Minister of Petroleum Resources has said that one of the main responsibilities of the ministry is to increase oil reserves from the current level of 37 billion barrels to 40 billion barrels by 2025.

Sylva announced this on Tuesday at the ceremonial groundbreaking for OPLs 809 and 810 at the Kolmani River II well, which is situated in a bordering community between the states of Bauchi and Gombe. Read more here.

These are the latest Oil & Gas news that made trends during the week. Visit our website https://allnews.ng for more Oil & Gas news around the world.