Piaggio & C. Spa Stock News

With PIA, We Will Transform NNPC Into The Fifth Largest Gas Producing Company In The World—KyariIfeanyi Onuba The Group Managing Director of the Nigerian National Petroleum Company Ltd, Mr Mele Kyari, on Wednesday said that with the implementation of the Petroleum Industry Act, the Company will emerge the fifth largest gas producing in the world. […]

Piaggio & C. SpA (PIAGF): FY GAAP EPS of €0.16.Revenue of €1.66B (+26.7% Y/Y).

Piaggio & C. SpA (PIAGF) CEO Roberto Colaninno on Q4 2021 Results - Earnings Call Transcript

The Federal Government said that the Petroleum Industry Act (PIA) has addressed the relationshi…

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has alleged that petroleum product marketers are taking advantage of seeming gaps and teething challenges in the implementation of the Petroleum Industry Act (PIA) to enrich themselves at the expense of the country and the people. The post PIA: NUPENG alleges marketers capitalising on challenges to rip off Nigerians appeared first on The Guardian Nigeria News - Nigeria and World News .

KARACHI, Pakistan (AP) — The families of hundreds of Pakistani students stuck in Ukraine following the Russian invasion are urging their government to help bring them home. At a media briefing late Friday, Foreign Minister Shah Mahmood Qureshi said that the Pakistani embassy had been temporarily moved from Kyiv to Ternopil on the border with Poland, to facilitate evacuations. Media reports say some 1500 Pakistanis, including 500 students, have been stuck in Ukraine since the Russian invasion on Thursday. Syed Waqar Abbas, a software engineering student in Kharkiv National University, is among the students in Ukraine waiting for consular help. His family in the southern port city of Karachi said Saturday that they remain worried about his safety. “My son is in Kharkiv which is being bombarded. He lives close to the border and that area is very dangerous," said Shabana Bano Abbas, his mother. She told the Associated Press that her son had no resources to help him get out. “He has just informed us that a station close to his area has been bombarded, how will my son get out of that place?" she said, demanding the government to help stranded children return.

ISLAMABAD/KYIV: The Pakistan International Airlines (PIA) has arranged a series of flights to evacuate some 2,000 students still stuck in Ukraine, it said Saturday, after Russian forces mounted a mass assault by land, air and sea on the former Soviet republic. The first two flights would leave tomorrow for Poland, it tweeted. In coordination with […] The post Special PIA flights to evacuate thousands of Pakistan students from Ukraine appeared first on Pakistan Today .

Experts reviewing a study and the forensic report on the activities of the Niger Delta Development Commission (NDDC) spanning the past 20 years of the commission’s existence have revealed why over 12,000 contracts were abandoned. The study found that personnel of the commission compromised and cornered the larger chunk of payments made to contractors who abandoned the jobs. The study was commissioned by the Social Action, in collaboration with MacArthur Foundation. Reviewing the study which was launched in Port Harcourt on Thursday, February 24, at Visa Karina Hotel, a researcher and author, Osasu Isibor Ekpen (PhD), described the NDDC as a metaphor for sleaze. He said the forensic audit report was a complete outrage. He said the north was going to become a gas region soon because of massive gas pipelines being laid. Northern governors met for six hours in a sensitive office in Abuja in 2019 deliberating on this. He said the region has lost over N15 trillion or $40bn wasted in 13,377 contracts awarded and 12,000 abandoned. “Imagine a case of one senator getting 300 contracts with 120 paid for but no work done.

The investment environment of Nigerias oil sector has fallen to its lowest ebb, even as the countrys production outlook has not appeared as uncertain as it does now, global investment banking firm Renaissance Capital (RenCap) and Fitch Solutions, an affiliate of global rating agency, Fitch have said. In separate reports of Nigerias oil and gas sector, RenCap and Fitch raise doubt about Nigeria recording any significant investments in the coming years despite the new Petroleum Industry Act (PIA). Both reports admitted the PIA has improved fiscal terms across all terrains, but its implementation is slow, a development that has translated to a near halt of upstream investment across all terrains since the pandemics outbreak. According to a new report by RenCap , Nigerias oil sector is facing an unprecedented level of under-investment, with declines reflecting a near halt of upstream investment across all terrains since the pandemics outbreak. It noted that most of the production operatorship control in most of Nigerias oil fields is set to change hands in onshore and shallow terrains, creating uncertainty with regard to future investment. To some extent, the under-investment theme is consistent with other hydrocarbon provinces (in both emerging and developed markets), due to oil and gas financing drying up globally and societal pressures towards decarbonisation driving the investment budgets of the majors and E&Ps alike, RenCap added.

Pakistan International Airlines (PIA) has decided to operate direct flights to Australia twice a week.

The Nigerian National Petroleum Corporation (NNPC) was never meant to be the country’s sole importer of refined products, stakeholders note. Africa’s biggest oil producer shouldn’t even be importing refined petrol. The panic around dirty petrol, analysis shows, is symptomatic of the country’s unwillingness to reform, they state. The NNPC gradually became the sole importer of petrol because the retail price capped at N162 per litre will not guarantee commercial returns to marketers who will pay a higher landing cost. This aberration may have morphed into law as the Petroleum Industry Act (PIA) named the NNPC, the supplier of last resort. Legal experts say this makes it a licensed supplier appointed by an authority under the last resort direction. This description implies national interests will always override its commercial interest. “It is really not in our interest to be the sole importer of PMS in the country. We have taken definite steps to exit the situation,” said Mele Kyari, CEO of the NNPC, during a meeting with downstream stakeholders at NNPC Towers in Abuja in 2020.

Contrary to speculations, the expected commencement of Dangote Refinery in the third quarter (Q3) of this year as well as other refineries will not lead to a significant reduction in the price of petrol in Nigeria. The reason is that they will be buying crude oil at the international market price and sell refined petrol to consumers at the same market-determined price. The Federal Government recently announced the suspension of the planned removal of petrol subsidy with a proposal to extend the period for the implementation of the removal by 18 months. Timipre Sylva, minister of state for petroleum resources, who announced this while briefing State House correspondents in Abuja, said the government had concluded plans to approach the National Assembly to amend the Petroleum Industry Act (PIA). We would approve an 18-month extension and then it is up to the National Assembly to look at it and pass the amendment as they see it, he said. The minister believes that other measures such as the Dangote Refinery, the Port Harcourt refinery, and other modular refineries would have significantly come on stream by the end of the year and possibly reduce the price of petrol in the market.

The Federal Executive Council is currently meeting with President Muhammadu Buhari presiding, to consider proposed amendments to the Petroleum Industry Act PIA. Businessday gathered from sources close to the Cabinet office that the amendment is being worked out, as a precursor to sending it to the National Assembly for enactment into law. The Minister of State for Petroleum Resources, Timipre Sylva has also been mandated to forward relevant instruments for the implementation of the conversion of cars from fuel to gas. The President has already mandated the Minister of State Timipre Sylva and the NNPC team to work out necessary modalities for the implementation of the conversion policy which will be implemented before subsidy can be removed, the source said. Read also: Buhari vows to end insecurity in the country The Minister had while briefing State House Journalists on Tuesday revealed that the conversion policy will start in March, this year. The federal government is however still shopping for its share of 50% contributions for the project to take off.

The Federal Government (FG) intends to extend by 18months the implementation of the removal of subsidy on Premium Motor Spirit (PMS), popularly known as petrol. Timipre Sylva, the Minister of State for Petroleum Resources announced this on Tuesday while briefing State House correspondents in Abuja. Sylva said that FG has concluded plans to approach the National Assembly to amend the Petroleum Industry Act (PIA). “We are proposing an 18-month extension but what the National Assembly is going to approve is up to them,” the minister said. Continue reading FG Plans To Extend Fuel Subsidy Removal To Amend PIA – Sylva at BizWatchNigeria.Ng.

The Nigerian National Petroleum Company (NNPC) is eyeing more revenue with the implementation of the Petroleum Industry Act (PIA). Addressing staff of the organisation in a townhall meeting held at NNPC Towers, Abuja, Mele Kyari, the companys Chief Executive Officer, said the PIA provides enormous business opportunities. According to the NNPC chief, the business opportunities provided through the PIA would enable the company earn more revenue for the country. Continue reading NNPC Eyes More Revenue With PIA at BizWatchNigeria.Ng.