Jonathan “very worried” about crude oil theft in Niger Delta – Alison-Madueke
Petroleum Minister says efforts to recover funds from illegal bunkering and crude oil theft have commenced. President Goodluck Jonathan is so worried about crude oil theft in the Niger Delta and the billions of naira Nigeria loses by the trade of such crude that he is already seeking foreign assistance to resolve the menace. This […]
Nigeria set to pay N94bn subsidy to 23 petrol marketers
Finance Minister refuted allegations that her ministry is blocking verified payment to marketers.
NNPC accuses Total of blackmail over Egina oil field project contract
The NNPC said Total and other international oil companies cannot stampede it.
Ten years after, Chevron to Resume Oil Exploration in Ilaje
The oil giant had stopped exploration in the Ilaje community ten years ago.
China reduces price of petrol products, as Nigeria prices constantly soar
China says it is acting based on international oil markets
Three months after, NNPC says it can’t repair Arepo pipeline due to insecurity
Arepo pipelines have been broken since August 30.
Ifeanyi Ubah blasts Okonjo-Iweala, accuses her of playing Anambra politics with fuel subsidy probe
The Capital Oil boss has accused Mrs. Okonjo-Iweala and others of trying to steal his company.
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
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.
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