Oil/Gas Reports

254 firms bid to lift Nigeria’s crude oil in 2018/2019

In 2017, 224 firms participated in a similar process.

Oil rig used to illustrate the story.

Oil price rises, set to reach $70

Brent sweet crude futures were at 67.95 dollars a barrel

NNPC Headquarters, Abuja

SPECIAL REPORT: How corruption fuelled allocation of Nigeria’s oil blocks

Oil block allocations have been dogged with nepotism, ‘forced marriages,’ and other forms of corruption.


HEDA demands details of three oil blocks from Mobil

The civic group made an FOI request.

Pic.4. Danbazzau is in Rivers State to commiserate with the state government on Omoku Violence-001

Gov. Wike blames oil companies for Rivers violence

Interior Minister Dambazau visits the state after New Year day killings.

NNPC Headquarters, Abuja

Despite producing most oil, Akwa Ibom has no NNPC, DPR offices – Governor Emmanuel

The governor says the two agencies do not have even a “kiosk” in the state.

Oil ship

Nigeria loses N222 billion in one year in shady crude oil swap deals — NEITI

Nigeria receives refined fuel lower in value by $723 million, compared to crude oil it sent abroad for refining.


NNPC should be made to account for N5.15 trillion – NEITI

The report revealed that Nigeria’s oil and gas revenues dropped from $54.5 billion in 2014 to $24.8 billion in 2015.

Baru and Kachikwu

FACT-CHECK: Documents show Kachikwu lied against Buhari, NNPC GMD in $2.89 billion contract claim

Our checks show the minister’s allegation against the President and Mr. Baru is false

Nigerian oil company, Oando. [Photo credit: Guardian Newspaper]

Why SEC is yet to start Oando forensic audit

An official says audit may commence after Yuletide.

Nigerian oil company, Oando. [Photo credit: Guardian Newspaper]

Oando: Two weeks after public notice, SEC yet to commence forensic audit

Sec told Nigerians on December 5 the audit would begin the next day.

Addax Petroleum [Photo: Africa Oil & Gas reports]

Enmeshed in bribery scandal, Addax says it plans $3 billion investment in Nigeria

Addax paid huge fines in Switzerland over bribery scandal in Nigeria.

How Alison-Madueke used fictitious persons to acquire multi-billion naira assets – EFCC

Businessman Jide Omokore and his wife were also linked to the scandal.

Nigerian oil company, Oando. [Photo credit: Guardian Newspaper]

UPDATED: SEC writes Oando again, orders firm to open doors to forensic auditors from Wednesday

The SEC letter to Wale Tinubu was signed by Abdul Zubair, the Acting Director General of the commission.

House of Reps

Reps investigate SEC, Oando Crisis

Mrs. Adeosun ordered the suspension of Mr. Gwarzo and two others based on corruption allegations against them

Nigerian oil company, Oando. [Photo credit: Guardian Newspaper]

‎ Court strikes out Oando’s suit to stop forensic audit

The court says it lacks jurisdiction.

Nigerian oil company, Oando. [Photo credit: Guardian Newspaper]

Oando: Court ruling stirs uncertainty over suspension of shares’ trading

SEC, NSE keep mum over court restraining order


Oando contests suspension in court, faults SEC’s decision

Oando says SEC acted ”without having concrete evidences.”

Nigerian oil company, Oando. [Photo credit: Guardian Newspaper]

How Oando declared dividends from unrealised profits, released false financial statements — SEC

The regulatory body says a consortium of experts would audit records of the firm.

Nigerian oil company, Oando. [Photo credit: Guardian Newspaper]

What you need to know about the Oando PLC crisis

Managers of the company deny allegations of mismanagement.

Nigerian oil company, Oando. [Photo credit: Guardian Newspaper]

Oando crisis worsens as firm is suspended from Johannesburg Stock Exchange

The NSE had suspended the firm on Wednesday.

Oando workers at an oil rig

Oando reacts to SEC/NSE Suspension

NSE said a ‘full suspension of firm’ is effective for 48 hours from Wednesday to Friday.


Why we suspended trading of Oando shares – NSE

“A full suspension is the halt of trading activities in a listed security for a period,”

Jubril Adewale Tinubu

UPDATED: Oando Crisis deepens as SEC suspends sale of shares

The company has been enmeshed in crisis since its last shareholders meeting.

Nigeria Vice President, Yemi Osinbajo

$25 billion claims in Kachikwu’s memo fabricated – Osinbajo

The presidency says monetary values cannot be associated to the contracts.