Controversy trails oil block revocation by Buhari

Controversy trails oil block revocation by Buhari Okechukwu Nnodim, Abuja President Muhammadu Buhari’s approval of the withdrawal of Oil Prospecting Licences 2001, 2002 and 2003 in the Utapate Field won by indigenes of the Niger Delta is not only being tackled by the investors but may lead to chaos in the oil-rich region if not […]

Senate passes petroleum industry reform bill

The federal senate on Thursday passed first tranche of the Petroleum Industry Bill (PIB), called the Petroleum Industry Governance Bill (PIGB) 2017. The bill, which is expected to take care of the governance aspect of the industry, scaled third reading following presentation of report of Joint Committee on Petroleum Resources (Upstream, Downstream, Oil and Gas). […]

US, Canada attract Nigeria’s biggest crude oil buyer

‘Femi Asu with agency report India, Nigeria’s biggest crude oil buyer, is set to make its first purchase of the United States oil, as it seeks to diversify its crude buying amid favourable price differentials. The US removed the 40-year-old restrictions on its crude exports in December 2015 following the rapid growth of its oil […]

Agip plans 150,000 bpd refinery for Nigeria

By Udeme Akpan, Ediri Ejoh & Prince Okafor- Nigeria’s petroleum products refining capacity is set to rise by additional 150,000 bpd as the Nigerian Agip Oil Company, NOAC, has concluded plans to construct a new plant in the nation. The planned project is expected to increase the nation’s refining capacity from the current 445,000 barrels […]

We’ll resist rejection of oil firms’ relocation to N’Delta –Ijaw youths

Chukwudi Akasike, Port Ijaw youths on Friday warned the National Assembly that they would resist the rejection of the executive order to oil companies to relocate their administrative head offices to the Niger Delta region. The youths, under the aegis of the Ijaw Youth Council, expressed dissatisfaction that the House of Representatives could reject a […]

Three NNPC chiefs fired over missing N11bn petrol

Okechukwu Nnodim, Abuja The Nigerian National Petroleum Corporation on Thursday sacked three of its senior officials and deployed four others in vacant positions. Although the corporation did not state why the officials were sacked, it was gathered that the affected directors and a manager were allegedly involved in the N11bn missing petrol scandal that was […]

US import of Nigerian oil hits 42-month high

‘Femi Asu The increase in the United States’ imports of Nigeria crude oil has continued, with a record import of 9.78 million barrels in January, the latest report from the US Energy Information Administration has revealed. Nigeria saw significant reduction in the US imports of its crude in recent years, starting from 2012, following the […]

N450m fraud: EFCC amends charges against Belgore, joins ex-Petroleum Minister, Allison-Madueke

There was a twist on Monday in Lagos in the ongoing trial of  Mohammed Belgore (SAN), and a former Minister of National Planning, Prof. Abubakar Sulaiman for alleged N450 million money laundering as the former Minister of Petroleum Resources, Diezani Allison-Madueke, was joined in the suit. The Economic and Financial Crimes Commission (EFCC)’s prosecutor had […]

Osinbajo directs oil companies to relocate headquarters to Niger-Delta

By Dennis Udoma UYO-Acting President, Prof. Yemi Osinbajo has directed the International Oil Companies operating in the Niger-Delta region to relocate their headquarters to their States of operation to mitigate tension in host communities. Osinbajo, gave the directive at a Town Hall meeting in Uyo, Akwa Ibom State capital on Thursday during continuation visit to […]

Ghana begins fuel exports to Niger, others

By Ediri Ejoh with Agency Report Ghana has started exporting fuel and gas oil to the landlocked countries of Burkina Faso, Niger and Mali from the Bolgatanga Petroleum Depot. The state-owned Bulk Oil Storage and Transportation Company (BOST) Limited, is also supplying petroleum products from the same depot to Benin Republic and Nigeria. Ghana’s Minister […]

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