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 […]

Northern govenors hire British firm to prospect for oil (Finding a needle in a hay stack?)

Rasheed Bisiriyu and Olaide Oyelude The 19 northern state governments have intensified their search for oil and gas in the region with the appointment of a British firm to carry out the exploration activities. This is coming about two weeks after President Muhammadu Buhari had directed the Nigerian National Petroleum Corporation to increase the tempo […]

Kachikwu now NNPC Board’s Chairman

*Kachikwu now NNPC Board’s Chairman By Levinus Nwabughiogu, Sebastine Obasi & Mike Eboh ABUJA-President Muhammadu Buhari has appointed Dr. Maikanti Baru as new Group Managing Director of the Nigerian National Petroleum Corporation, NNPC. He also approved the composition of the board of the corporation, which is provided for under Section 1(2) of the Nigerian National […]

Oil price rises to $48 per barrel

World oil prices rebounded Friday from six straight sessions of losses, as investors eyed rising global equities and increasing risk appetite on receding Brexit concerns, dealers said. At about 1100 GMT, Brent North Sea crude for delivery in August was up 99 cents at $48.18 a barrel. US benchmark West Texas Intermediate for July delivery […]

I’m not a thief –Ex-petroleum minister, Alison-Madueke

I’m not a thief –Ex-petroleum minister, Alison-Madueke — 15th June 2016 Nigeria’s immediate past Minister of Petroleum Resources, Diezani Alison-Madueke has denied reports that she accumulated wealth by stealing from the public treasury. Mrs. Alison-Madueke made the denial yesterday while reacting to a story by a television channel, Al Jazeera, that she procured her Abuja […]

No Matter How Long You’ve Been Travelling in the Wrong Direction…By Dr. Jideofor Adibe

By Dr. Jideofor Adibe | London, UK | May 23, 2016 | – There is a saying that no matter how long you have been travelling in the wrong direction, the best solution remains to turn back. This was what came to my mind when I read the story that the government had eventually decided to […]

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