Business Specials

Experts say falling global oil prices may cause relapse in the economy

If the nation’s production remains at current level, there would be pressure on the budget and future economic growth, experts say.

‪Shell still committed to $5mn pipe mill project, says Nigerian content board

Ernest Nwapa told lawmakers of his agency’s performance so far.

NIMASA blocks Nigeria LNG vessels again as debt crisis deepens

NIMASA says its blockade of the Bonny River channel and detention of the vessels are law enforcement actions following the refusal of NLNG to stick to the agreements reached over the pending issues. The lingering crisis between the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigeria Liquefied Natural Gas Company  over alleged refusal to […]

Tribunal orders Mobil to pay N13bn education tax to FIRS

The Mobil had challenged the tax payment saying it violated an agreement.

Shell shuts 150, 000 barrels per day trans Niger pipeline after fire

Shell said the fire was caused by sabotage.‪

NNPC to build Africa’s largest gas city in Delta

The Nigerian National Petroleum Corporation (NNPC) is set to build the largest Africa’s gas city in Ogidigben, Delta State. David Ige, the NNPC Group Executive Director, Gas and Power, made this known during the 4th International Conference and Exhibition on Free Trade Zone on Tuesday in Lagos. The conference was organised by the Oil and Gas […]

Jonathan, other PDP governments encourage corruption in Nigeria’s oil industry- government report

The Nigeria Extractive Industries Transparency Initiative says government hardly implements its recommendations on accountability in the extractive industry.

Nigeria ‘weak’ in oil resource governance, says Revenue Watch

Revenue Watch has ranked Nigeria amongst the weakest of 58 countries covered in the study of transparency and    proper management of its oil resources.

Oil workers task Nigerian Government on pipeline vandalism

The union decried the drop in crude oil production since the first quarter of the year.

Nigeria needs prompt automation of oil industry processes- NEITI

An automated audit process will make the exercise more effective, efficient, transparent and reliable, NEITI says.

Subsidy fraud: PPPRA, Akintola Williams Deloitte inflated figures, misled government- EFCC

The auditing firm relied on third party accounts.

BREAKING NEWS: Nigeria’s Gas Export In Danger Over Levy Wars

The Nigerian Maritime Administration and Safety Agency (NIMASA) triggered a major trade dispute Friday in Bonny Island, blocking access to the nation’s major loading terminals for gas export, authoritative security sources have disclosed to PREMIUM TIMES. NIMASA’s action took place about noon, and its grouse, according to sources, is based on alleged refusal by the […]

Nigerian government appeals against judgement banning deregulation of petrol

FG has asked the Appeal Court to set aside the judgment and dismiss the matter in its entirety.

Declining crude production may affect Nigeria’s economy – Finance Experts

Experts say there is a need to diversify the economy as oil earnings continue to shake.

Niger Delta militants

Nigeria In Trouble; Oil Exports Fall To Lowest In 4 Years

Nigeria’s oil exports will fall to a  four-year low as a result of crude oil theft and resultant facility closures by some oil companies, news agency Reuters is reporting. Quoting the shipping lists it saw Tuesday, the agency says Nigeria will now export 1.76 million barrels per day, the lowest since August 2009. Analysts say […]

NUPENG urges establishment of pipeline protection agency

The union advocated the formal training of illegal oil refiners.

Niger delta pollution

Group urges extractive companies, host communities to resolve grievances amicably

Two researchers of the IIED published a book on how to resolve such conflicts.

EU committed to balanced trade agreement with ECOWAS

EU says a balanced ECOWAS-EU partnership trade agreement would increase the economic ties between the two regions.

crude oil theft

ENI shuts down operations over “unprecedented” crude oil theft in Bayelsa

The firm was losing about 7,000 barrels of its daily crude production.

Shell declares force majeure on export, plans Nembe field closure for repairs

The bulk of Nigeria’s crude theft and losses occur on the Nembe pipeline.

Ledum Mitee

Ogoni leader, Ledum Mitee, opposes Host Community Fund in PIB

Mr. Mitee has urged civil society groups to do a lot more to unravel the dimensions of the PIB.

Nigeria oil company, NNPC, operating at a loss- GMD

The NNPC blames its problems on the difficult operational environment in the industry.

Nigeria’s excess crude revenue used to finance petrol subsidy payments- Sanusi

The Central Bank chief said there was no basis for the controversy.

Finally, NNPC responds to controversial $1.6 billion loan

NNPC explains its controversial $1.56 billion syndicated loan.

Non-passage of PIB delays billion dollars investments in Nigeria, oil companies say

Oil companies say the delay in passing the PIB is slowing down the industry. International Oil Companies, IOCs, on Wednesday said the continued delay in passing the Petroleum Industry Bill, PIB, into law is creating uncertainties. The uncertainties delay the take-off of fresh projects worth several billion of dollars that would grow industry capacity and […]