ANALYSIS: N25 trillion FAAC distribution and lingering financial challenges of state governments
“While FAAC disbursement to states is a constitutional arrangement, it cannot be stopped by sheer discretionary measures. However, there must be a political will to ensure that states’ IGR Surpass federal allocations.”
AKK Gas Pipeline Project: Consortium battles NNPC over attempt to hijack contract
NNPC wants the Federal Executive Council to approve termination of the Lot 2 contract.
Malabu Scandal: Shell, Eni await fate as Italian court rules on $1.1 billion ‘bribe’
Shell and Eni paid the money through the Nigerian government to controversial businessmen.
SPECIAL REPORT: How Nigeria loses trillions of Naira to deep offshore oil explorations
Other countries make billions of dollars from similar deep offshore wells.
50 firms win contracts to lift Nigeria’s crude in 2018/2019 (FULL LIST)
The firms would lift over 700,000 barrels per day of crude oil.
OML30 communities protest removal of Salvic Petroleum Resources
The Communities and their leadership see no justification in terminating SALVIC.
Malabu Scandal: Court says Adoke ‘not liable’ for obeying Jonathan’s directives
The Court says the former attorney general merely performed his constitutional duties.
Senators trade words over oil producing status of Anambra, Kogi states
The three states are laying claims to being oil producing states.
Oil spill: Agip, host community bicker over compensation, clean-up
Ruptured pipes had discharged 180 barrels of crude into the environment.
Swiss authorities block bank accounts linked to Malabu Oil scam
Three bank accounts in Lugano, Basel and Geneva were blocked, according to media reports.
Russia plans to fully comply with OPEC-non-OPEC oil deal in April – Energy Minister
Russian Energy Minister Alexander Novak made the announcement on Tuesday.
Former Shell Vice-President named in fresh Nigerian oil scandal
Shell admits that a crime might have been committed in the new OML 42 deal.
PIGB: Marketers advocate two oil industry regulators
“The idea of a single regulator for the entire sector runs contrary to industry standards.”
Bill Gates to Nigerian govt: Shift your attention from oil
Mr. Gates, a billionaire businessman, says Nigerian farmers are failing because of poor funding.
Alleged N650 billion debt: Oil marketers allegedly lay off staff
The marketers say the debt is killing their operations.
Oil prices rise on Middle East tensions, healthy demand
Brent sweet crude futures were at 67.66 dollars per barrel.
Shell, Eni negligent over Nigerian oil spills – Amnesty International
“Shell and Eni claim they are doing everything they can to prevent oil spills but Decoders’ research suggests otherwise.”
Oil price rises towards $70 on reduced U.S. drilling activity, booming job market
Brent sweet crude was at 65.70 dollars per barrel, from their previous close.
Nigeria realised $476.3 million from crude oil, gas exports in December 2017 –NNPC
About 3,342 MW of gas was equivalent delivered to power plants.
We reduced cost of producing barrel of oil to $20 – NNPC
The official speaks on investment in biofuels by the corporation.
NNPC set to resume oil exploration in Nasarawa – Official
The exploration was suspended because of the killing of an official.