ENI shuts down operations over “unprecedented” crude oil theft in Bayelsa
The firm was losing about 7,000 barrels of its daily crude production. Advertisement
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. Advertisement
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. Advertisement
Nigeria oil company, NNPC, operating at a loss- GMD
The NNPC blames its problems on the difficult operational environment in the industry. Advertisement
Nigeria’s excess crude revenue used to finance petrol subsidy payments- Sanusi
The Central Bank chief said there was no basis for the controversy. Advertisement
Finally, NNPC responds to controversial $1.6 billion loan
NNPC explains its controversial $1.56 billion syndicated loan. Advertisement
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 […]
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. Advertisement
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. Advertisement
China reduces price of petrol products, as Nigeria prices constantly soar
China says it is acting based on international oil markets Advertisement
Three months after, NNPC says it can’t repair Arepo pipeline due to insecurity
Arepo pipelines have been broken since August 30. Advertisement
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. Advertisement
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. Advertisement
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. Advertisement
NEITI convenes forum on draft Petroleum Industry Bill
NEITI says it wants to take a deeper look at the new PIB.