Business Specials

Oil rig

Oil rises back over $48

The price jump followed a rise of more than 7.5 million barrels in the recent weeks

Ghana resolves dispute with Nigeria over unpaid gas bill

Ghana gets around 25 per cent of its power through gas from Nigeria

Murtala Mohammed’s son blames Total for company’s debts

Abba Mohammed says his company is still solvent.

NNPC boss, Kachikwu, sanctions staff over scandalous project exposed by PREMIUM TIMES

The suspension order is to allow for unfettered review and investigation into the project implementation.

NNPC contracts to be made open to public — Kachikwu

Mr. Kachikwu says NNPC would embark on a transparency operation to regain its lost credibility.

Bayelsa issues ultimatum to Agip to clean up over 1,000 spill sites

Agip’s parent company, Eni, says company will respond in due course

Nigeria extractive industry watchdog, NEITI, seeks more powers

Areas of proposed change include funding, access to information, inclusion of confidentiality clauses in joint venture contracts and more.

NNPC lifts embargo on 113 crude oil vessels

A government committee will investigate the activities of bannes vessels.

Group wants Buhari to remove newly appointed NNPC director

“A public officer shall not put himself in a position where his personal interest conflicts with his duties and responsibilities.”

NNPC secures interim offshore processing agreements to guarantee steady fuel supply

The agreement allows for allocation of crude oil for refining offshore in exchange for petroleum products

Civil society, media call for stiffer punishment for violation of Local Content Act

The groups warn against further attempts to breach the laws of Nigeria by Agip and General Electric and vow to mobilise Nigerians to fight them.  

NNPC says no plan to sell refineries, but PPMC to be unbundled 

Port Harcourt refinery restarts fuel production

Buhari cancels all crude oil swap, offshore processing deals with NNPC

Crude oil swap for refined petroleum products took a controversial connotation after concerned Nigerians criticised the deals as lacking transparency

NNPC’s new boss seeks removal of fuel subsidy, deregulation of oil sector

Mr. Kachikwu says removal of price control mechanisms is imperative to ensure full growth of the sub-sector.

China Tops U.S. As Nigeria’s Biggest Trade Partner

Nigeria’s exports of mineral products accounted for ₦2.51 trillion.

Nigerian navy ship

Why oil theft persists in Nigeria – Navy Commander

The commander also warned the perpetrators of the consequences of their action warning that whoever is caught would face the full weight of the law.

Bayelsa, oil producing state, pays the most for fuel — NBS report

Petrol sold above N87 per litre nationwide.

Blame politicians for rot in NNPC, says PENGASSAN

Oil workers on Monday blamed the rot in the Nigerian National Petroleum Corporation on politicians involved in the management of the country’s petroleum company. The President of the Petroleum and Natural Gas Senior Staff Association of Nigeria, President, Francis Johnson, at the Addax Petroleum PENGASSAN Branch of triennial delegates’ conference in Abeokuta, said that high […]

Kaduna refinery to save Nigeria $5.33 million daily

Refinery will meet the $5.33 million daily target when it moves from current 60% production capacity to 90 percent next year.

New NNPC GMD, Kachikwu, bars congratulatory adverts from well-wishers

Mr. Kachikwu says his appointment is a serious national assignment and that he should not be distracted with congratulatory messages

Group wants govt to limit crude oil allocation to refineries to current capacity

The group urges government to be decisive on fuel subsidy, saying steps must be taken to recover all subsidy payments fraudulently claimed.

Exxon profit halved by tumbling crude prices

Profit at Exxon’s exploration and production fared even more poorly.