Business Specials

DPR says it can’t function because of inadequate funding, under-staffing

Benue and Nassarawa residents buy fuel above the pump price.

ANALYSIS: Ribadu panel report re-echoes call for more powers for NEITI

Nov. 5 (PREMIUM TIMES) — Issues thrown up in the report of the Nuhu Ribadu-led Petroleum Revenue Special Task Force submitted to President Goodluck Jonathan on Friday in Abuja have strengthened calls from concerned petroleum industry stakeholders for the amendment of the Nigeria Extractive Industries Transparency Initiative, NEITI, enabling Act to empower it to realize its mandate. […]

Capital oil boss, Ifeanyi Uba, to remain in detention, court rules

A Federal High Court in Lagos on Monday struck out a bail application filed by Ifeanyi Uba, the CEO, Capital Oil and Gas, and four others charged with N43.29 billion fuel subsidy fraud. Others charged with Mr. Uba are Nsika Usoro, Godfrey Okorie, Chibuzor Ogbuokiri, and Joseph Orji, all employees of the Capital Oil and […]

PPPRA set to issue fourth quarter fuel imports permit

The permit will ensure the stability of fuel supply during the yuletide.

Oil workers threaten strike over killing of members by vandals

PENGASSAN accuse petroleum minister of being insensitive over the plight of oil workers.

Government defends PIB content, rejects Shell’s claims

Government says its decision to increase its take in deep water oil fields to about 73 per cent is competitive.

Shell opposes PIB, says it’ll stifle oil and gas investments

The multinational voices its concerns about the PIB which is before the National Assembly.

PIB must guarantee regulatory agencies’ independence, says NEITI forum

Stakeholders want new draft law to strip Petroleum Minister of excessive powers over the affairs of agencies in the industry

Mamman Ali and Mahmud Tukur

Government lied on subsidy payments , indicted oil marketers claim

First batch of subsidy trial suspects deny collecting money from government.

NEITI convenes forum on draft Petroleum Industry Bill

NEITI says it wants to take a deeper look at the new PIB.

Nigeria, others want transparency laws for extractive industry

Group campaigns for transparency laws to compel large private extractive companies to disclose their payments to governments worldwide.

Fuel scarcity spreads nationwide

NNPC explains fuel scarcity in Lagos

The corporation blames the fuel scarcity in Lagos on distribution challenges and the vandalised Arepo pipelines

Nigeria’s crude oil production rises in August

OPEC members exported more crude based on performance of Nigeria, Angola, Libya, and others.

NNPC officials working on vandalised pipeline

Pipeline vandals kill 3 NNPC staff

The management of the Nigeria National Petroleum Corporation on Sunday confirmed the killing of three of its staff by men suspected to be pipeline vandals.  Fidel Pepple, the acting Group General Manager, Group Public Affairs Division of the Corporation, said in a statement on Sunday the three were members of a team deployed to effect […]


Fuel Subsidy Scam: EFCC declares fleeing oil marketers wanted

The Economic and Financial Crimes Commission has just issued the statement below declaring wanted, marketers who allegedly “obtained billions of naira as subsidy payments from the Petroleum Support Fund under false pretence, and disappeared in the wake of the Commission’s investigation of the subsidy regime. The marketers are Abdul Afeez Olarenwaju Olabisi of Fargo Petroleum […]

Pirates hijack oil ship, kidnap crew, off Nigeria’s coast

Pirates have hijacked an oil tanker and its crew in the waters near Lagos, the navy and a security company said on Wednesday. The vessel, called the Abu Dhabi Star, was seized on Tuesday night, around 14 nautical miles from the entrance to Lagos port, navy spokesman, Kabir Aliyu, told Reuters. The navy said the […]

Dantata, others receive N25billion SURE-P payments

SURE P contractors receive payment

West African Gas Pipeline

West African Gas Pipeline Shut down

The West African Gas Pipeline Company (WAPCo), operator of the system, said the decision to effect the immediate closure of the facility on Tuesday followed an unusual loss of pressure experienced around the Lome segment of the pipeline.

Government seals $4.5billion deal with consortium on refineries projects

Consortium of investors plan six modular refineries in the next one year

BP, plaintiffs agree on $7.8 billion compensation over Gulf oil spill

The Obama government restates determination to hold accountable all those responsible for environmental pollution

Lawmakers demand immediate halt to spills in oil facilities

Nigeria's federal legislators want Shell to halt spill in its facilities and compensate those affected in the Bonga incident