Supreme Court fixes Jan 17 for hearing on Rivers-Imo oil well dispute

From Tony John, Port Harcourt The Supreme Court order of injunction restraining the Federal Government and its agencies from ceding oil wells in Akri and Mgbede, Rivers State to Imo State, still subsists, the court ruled on Monday. At the resumed hearing of Suit No. SC.1037/2020 filed by Attorney General of Rivers State (plaintiff) vs Attorney […]

Rivers governor storms Supreme Court in oil well battle with Imo

From Godwin Tsa, Abuja Proceedings in the ongoing suit instituted by Rivers State against Imo State over ownership of 17 oil wells were witnessed by Governor Nyesom Wike, who arrived at the Supreme Court complex on Monday for the hearing of the case. The Court ordered the Federal Government to, within 15 days, file its […]

I don’t have N9.7bn in my account, Ex-Petroleum Minister, Kachikwu tells Malami, Attorney-General

I don’t have N9.7bn in my account, Ex-Petroleum Minister, Kachikwu tells Malami By Ikechukwu Nnochiri, Abuja Former Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has denied allegation that he had while in office, received the sum of N9.7billion in his personal account. Kachikwu, in a petition he wrote to the Attorney-General of the […]

Nigeria’s sweet crude bullish at $75 despite oil prices crashing to $69

By Kingsley Jeremiah, Abuja The decision by the Organisation of Oil Exporting Countries (OPEC) to pump 400,000 barrels per day of crude oil into the market on a monthly basis from August, yesterday pushed oil price to a record low of $69 per barrel, but Nigeria’s sweet crude, Bonny Light remains bullish at $75.23. With gradual […]

Threats to bomb nation’s oil installations unnecessary, Presidency tells Niger Delta Avengers

President Muhammadu Buhari The Presidency has frowned at threats by a group, Niger Delta Avengers, to bomb nation’s oil installations unless their demands including restructuring of the federation were met by the Federal Government within 90 days. Mr Femi Adesina, the Special Adviser to the President on Media and Publicity, condemned the threats in a […]

Kebbi, NNPC strengthen collaboration on biofuel production

The Kebbi State Government and Nigerian National Petroleum Corporation (NNPC) are to continue to strengthened collaboration on production of biofuel and renewable energy. Mr Yahaya Sarki, Adviser to Gov. Atiku Bagudu of Kebbi on Media, made this known in a statement made available to Newsmen in Birnin Kebbi on Friday. Sarki said the decision was […]

Using $1.5b to renovate Port Harcourt refinery is corruption – Reno Omokri

The Number one bestselling author and former aide to ex-president Goodluck Jonathan, Pastor Reno Omokri, has lampooned the president Muhammadu Buhari-led government of Nigeria for proposing to use what he described as a whopping sum of $1.5b to renovate “a loss-making Port Harcourt refinery,” when Oil giant, Shell Plc sold her 175,000bpd “profit-making refinery for […]

Investing in the Oil Industry – By Dr. Phil Osagie

Dr. Phil Osagie | Toronto | March 3, 2021 – If you bought just one barrel of oil on April 21 last year, your returns would have now increased by over 60 times. Or if you had traded $1000 in WTI crude oil, you would be worth over $60,000 today. Imagine if in April last […]

Nigerians Apprehensive Over Possible Increase In Fuel Price, Says IPMAN

Following long fuel queues that have resurfaced in the Federal Capital Territory (FCT) and other states across the country, the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Sunday, said Nigerians were being apprehensive over a likely increase in pump price. This is coming on the heels of increasing queues in filling stations within Abuja, […]

Breaking: Shell loses case against 4 Nigerian farmers in Dutch court

Agency Report A Dutch appeal court in The Hague has ruled that the Nigerian branch of Shell has to pay compensation to some Nigerian farmers who have been litigating against the company for 13 years. The court reached the decision today. The amount of compensation must be determined later, a Dutch newspaper reported. According to the ruling, […]

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