Business Specials

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 […]

Niger delta pollution

Total signs MOU with Niger Delta host communities

The MOU, Total says, is aimed at uplifting the quality of life in the communities hosting the company’s operations.

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.

A petrol station used to illustrate the story

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 uba

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

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