Business Specials

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. 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

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. 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 […]

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. Advertisement

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

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 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 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. 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

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. Advertisement

NEITI convenes forum on draft Petroleum Industry Bill

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