Sentences with phrase «of oil subsidies»

Nigeria's civil rights community has told President Goodluck Jonathan to shelve the proposed removal of oil subsidy.

Despite the public outcry against the proposed removal of oil subsidy as from next year, Niger State Governor Babangida Aliyu yesterday wooed traditional rulers to support...

Despite the public outcry against the proposed removal of oil subsidy as from next year, Niger State Governor Babangida Aliyu yesterday wooed traditional rulers to support the Federal Government's plan.

Not exact matches

Fossil - fuel subsidies drain government budgets, throwing up a fiscal wall that blocks state support for clean energy while protecting the interests of the oil industry.

Between 1985 and 2000, the European Court of Auditors reported that 87 percent of misappropriated EU subsidies for olive oil bottlers had gone to Italy.

It also gradually phased out subsidies that kept retail fuel cheap, causing prices at the pump to climb by an average of nearly 25 % since 2014, even though global oil prices fell by as much as 75 % during that period.

In Indonesia, which ended gasoline subsidies in 2015 and lowered the diesel subsidy to 500 rupiah (3.6 U.S. cents) per litre in 2016, retail prices also haven't risen by as much as the price of crude oil.

His rivals play off it on the campaign trail, with the NDP's Thomas Mulcair bemoaning billions in subsidies to the fossil fuel sector and Liberal Leader Justin Trudeau saying Harper «bet everything on the price of oil.»

A version of this article appears in print on July 4, 2010, on Page A1 of the New York edition with the headline: As Oil Industry Fights a Tax, It Reaps Subsidies.

But there's also a new element that Thomas Mulcair has added to this conversation: subsidies to the oil and gas industry — mostly in the form of allowing the industry to externalize environmental costs.

Obama wants to do away with corporate tax benefits like oil and natural gas industry subsidies, special breaks for the purchase of private jets and certain corporate tax shelters.

The oil companies want all the profits they can suck including part of our royalties and subsidy money and they know quite well Alberta is the place to be.

Energy exporting governments must use falling costs as an prospect to reduce generous subsidies and restore their fiscal health, according to the personal arm of the Planet Financial institution Low oil rates will aid invigorate personal investment decision in the Center East according to a leading determine at the private...

Brazil was able to reduce subsidies in oil and gas, but its export business was challenged as a result of the declining oil prices, and its economy remained flat.

Now 50 % of the country takes some kind of help from the government, whether it's fuel oil assistance, food stamps, or some subsidy.

Tax cuts for the rich, subsidies for oil companies that raked in billions in profits, laws passed making it much more difficult to declare bankruptcy and also legislation absolving big phrams of any lawsuits due to their non compete policies.

Tropical Traditions also restored traditional methods of producing coconut oil by hand, and also worked to provide consumer access to other traditional products that had fallen out of favor in the U.S. market, but for which there was a demand from health - conscious consumers interested in sourcing food outside the corporate commodity food supply kept cheap by government subsidies.

Recall that the agitation for the payment of the subsidy claim started at the tail end of ex President Goodluck Jonathan's tenure owing to the unforeseen contingencies perceived by the oil marketers.

«The Presidency has also failed to offer explanations on the alleged involvement of its officials in various sneaky oil subsidy deals as well as reported diversion of N1.1 trillion worth of crude last year to service APC interests.

«If you take the Economic Intelligence Unit (EIU)[report], they said 2017 and onward is going to be a period of prosperity for Ghana and that is because of the foundation that we have laid, it's because of the work that we have done, we've eliminated a lot of the deficits that were created by huge subsidies on utility tariffs, we eliminated a lot of the subsidies that created huge deficits on the cost of petroleum products, today as I speak, Tema Oil Refinery (TOR) is running, and producing petroleum products for Ghana, we have enough stock of LPG, our tanks and strategic reserves for petroleum products are all full, and, so, we have ships standing offshore Ghana with petroleum products, but there is no space to offload those products, and, so, we've done a good job in stabilising various sectors of the economy.

The Minister of Finance, Mrs. Kemi Adeosun, had, on Dec. 9, confirmed the payment of N407.07 billion fuel subsidy to oil marketers.

Why would we leave the value chain of the Nigerian oil industry undeveloped beyond crude oil and gas extraction and export simply because we want to continue with an unsustainable subsidy?

Marketers disclosed that they owe their foreign suppliers in excess of $ 1.29 billion, even as the marketers were paid only N413 billion in December 2015 for oil subsidies.

With the government removing fuel subsidies and oil marketers refusing to sell diesel at pump prices, the cost of doing business in Nigeria is expected to double over the next three months especially as oil hits a benchmark price of $ 38 per barrel with the International Monetary Fund (IMF) predicting a further drop to $ 20 per barrel by mid-year.

Justice Agbim noted that «the fuel subsidy fraud involved corruption and fraud on a very massive scale»; that it involved many oil companies and officials of government's regulatory agencies «looting and stealing of trillions of naira from the Federal Government of Nigeria and threatening the security and economy of Nigeria.»

In an example of strange bedfellows, the coalition fighting the deal includes oil and gas producers who, like anti-nuclear activists, oppose the subsidies.

NEWS - REVIEW FILE PHOTO Greg Blass handling home heating oil subsidies as Department of Social Services commissioner in 2010.

The Executive Director of the Chamber of Bulk Oil Distributors (CBOD), Senyo Hosi, says government needs to consider scrapping the subsidy on premix fuel, since such monies are only ending in private pockets through the diversion of the commodity meant for the country's fisher - folk.

«His weak green light to renewable fuels, refusal to cut fossil fuel subsidies and his call for further imports, completely undermines last year's recognition of the need to end the nation's oil addiction,» she said.

A state - owned oil company which can award contracts worth billions of dollars without the knowledge of the minister of state for petroleum who is also chair of its board, and which can administer a petrol subsidy scheme that is not budgeted for is probably not an epitome of anti-corruption!

This development is coming about eight months after the Muhammadu Buhari - led regime stopped the fuel subsidy, which was costing the government millions of naira being paid monthly to oil marketers importing the product then.

So... while (1) subsidies for businesses (like the oil companies» outrageous subsidies) are a CREDIT or GAIN from the perspective of businesses, they most certainly can be called (2) handouts or foregone income or SPENDING from the government's perspective... which is a DEBIT or LOSS for the government.

On May 20, 2015, nine days BEFORE the government was inaugurated, I laid out «Policy Prescriptions» - diversification of production, government revenue, and exports; imperative of a strong and credible economic team and cabinet; targeting «opportunity sectors» (solid minerals, refining and petrochemicals, a new and realistic fiscal regime for upstream oil and gas, private sector investments in power and infrastructure, agro-processing, retail and construction); freeing «up resources from downstream petroleum sector deregulation» emphasizing «an economic reality in which hard decisions including some previously rebuffed by the opposition will have to be taken» a clear reference to the petrol subsidy which government waited a full year before countenancing the critical decision!

The Senate on Thursday said it would not take any decision on oil subsidy that would aggravate the suffering of Nigerians.

In «Nigerian Economy in 2016: Withdrawal Symptoms» (January 27, 2016), I compared Nigeria to an addict finding it difficult to wean itself of the drug of oil and warned that «in 2016 we will be forced to begin reconciling ourselves to the real exchange rate of the Naira» and «it is wise to formally and publicly end the subsidy regime and bring certainty and investments into the downstream petroleum sector.»

One of the charges read, «That you, Adegbite Adetoye and Ponnle Abiodun whilst being directors of Origin Oil and Gas Limited on or about the 8th day of October 2010 to December, 2011 in Abuja within the jurisdiction of the High Court of the Federal Capital Territory, Abuja and with intent to defraud, conspired to obtain the sum of N735, 132, 076.18 From the Federal Government of Nigeria under false pretence that the said sum represented subsidy accruing to you, whereas the sum is above the actual subsidy payment for the importation of 15,000 mt of premium motor spirit (petrol) which you claim to have purchased from Vitol SA and imported into Nigeria through MT Silverie which representation you knew to be false.»

The concept of «Oil tax subsidies» is what's disingenuous.

The Major Oil Marketers Association of Nigeria, MOMAN, has called on the federal government to pay the fuel subsidy claims owed to its members.

The question of what Empire State taxpayers are getting in exchange for these subsidies is never clear and compelling, despite regular claims of an economic bonanza that would sound quite normal coming from the lips of a supply - side snake - oil salesman.

One of the nation's most conservative districts has made it clear that sacrificing Medicare for continued tax cuts on the wealthiest 2 % and subsidies for oil companies is NOT acceptable.

The Minister of Finance, Mrs Kemi Adeosun, on Tuesday said the Federal Government had fully paid the N48.2 billion outstanding subsidy arrears owed oil marketers in 2015.

He said instead of putting more burden on the people, the APC government should come out clear on the «sleaze in the oil sector» under its watch, particularly the «shady oil subsidy payouts and illegal lifting of N1.1 trn worth of crude, using unregistered companies.»

Between September 2017 and April this year, the oil firm had been incurring what it called under - recovery, which actually is subsidy, on the importation of petrol.

Detectives at the Police headquarters investigating the $ 620, 000 oil subsidy bribe money collected by erstwhile chairman of the House of Representatives Subsidy Probe Panel, subsidy bribe money collected by erstwhile chairman of the House of Representatives Subsidy Probe Panel, Subsidy Probe Panel, Hon....

The military practically abolished Nigeria's federal system in favour of a unitary, distributive economy in which we all shared proceeds of oil; they created more and more states eroding sub-national economic viability; they nationalized and indigenized banks and declared that government would hold the «commanding heights» of our economy, marginalizing investment and the private sector brought in «big government»; they implemented «Udoji awards» and other elements of oil and FX subsidies that Nigeria battles to overcome today; and the about - to - depart government of Murtala / Obasanjo took the first $ 1billion jumbo loan that set Nigeria on the path to debt peonage!

Removing fossil subsidies would only slightly slow the growth of CO2 emissions, with the result that by 2030 they would only be 1 - 5 % lower than if subsidies had been maintained, regardless of whether oil prices are low or high.

The largest effects of removing subsidies were found in areas that export oil and gas, such as Russia, Latin America, and the Middle East and North Africa.

Reform of energy subsidies in oil - exporting countries can reduce carbon emissions and add years to oil exports, according to a new paper from Rice University's Baker Institute for Public Policy.

«The governments of oil and gas producing countries are already under pressure to reduce spending on subsidies as revenues shrink,» says Jewell.

The bad air quality has prompted the Ministry of Finance and NDRC to negotiate with the oil companies about subsidies in order to encourage high - quality fuel.