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North set to take over NNPC

Posted by admin Headlines, Oil Politics Monday, June 29th, 2015

As committee recommends restructuring From ISMAIL OMIPIDAN, KADUNA & ISAAC ANUMIHE, ABUJA Barely 48 hours after President Muhammadu Buhari dissolved the board of Nigerian National Petroleum Corporation (NNPC), intense lobby has begun to fill the positions of the Group Managing Director (GMD) and those of Executive Directors, Daily Sun has learnt. Eight new structures are […]

Buhari dissolves NNPC board

Posted by admin Latest Politics, Muhammadu Buhari (1983-85, 2015 - 2023), Oil Politics, Presidency, Top Stories Saturday, June 27th, 2015

NNPC Towers Abuja | credits: ookaboo.com Almost a month after he assumed office, President Muhammadu Buhari has dissolved the Board of the Nigerian National Petroleum Corporation with immediate effect. The announcement was made in a terse statement issued on Friday by the Director of Communications in the Office of the Head of Civil Service of […]

Senate to summon NNPC over state of refineries

Posted by admin Headlines, Oil Politics Wednesday, June 24th, 2015

Senator Gbenga Ashafa | credits: File copy The Senate on Wednesday agreed to summon the management of the Nigerian National Petroleum Corporation to appear before its relevant committees as soon as they are constituted to account for the states of the existing refineries. The red chamber also urged the Federal Government to revamp the […]

S’Court orders Shell to pay Delta communities N30m

Posted by admin Headlines, Judiciary, Oil Politics Friday, June 5th, 2015

The Supreme Court on Friday finally decided a 32-year-old case against the Shell Petroleum Development Company of Nigeria Limited, ordering the company to pay N30,288,681 compensation for oil spillage in four communities of Delta State. The four communities – Obotobo, Sokebolo, Ofogbene (Ezon Burutu) and Ekeremor Zion (Ezon Asa) – had, through some of their […]

Soldiers take over Capital Oil, load drums with fuel

Posted by admin Armed Forces, Latest Politics, Oil Politics Tuesday, May 26th, 2015

People waiting to buy fuel at a filling station along the Lagos-Ibadan Expressway, Lagos … on Monday | credits: Segun Bakare Officials of the Nigerian Army on Monday took over the Ojodu Berger outlet of Capital Oil, buying petroleum products in drums, after scaring away thousands of consumers. The armed personnel came in the […]

Okonjo-Iweala and Madueke summoned to Senate for Fuel crisis

Posted by admin Latest Politics, Legislature, National Politics, Oil Politics, Senate, Top Stories Saturday, May 23rd, 2015

Okonjo-Iweala and Madueke are expected to speak to the Committee addressing the causes behind lingering fuel scarcity, which has brought on untold hardship for many Nigerians. Senate Joint Committees on Petroleum Resources (the Upstream Committee and the Downstream Committee) statement on Friday summoned the Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi […]

Revenue woes heighten as traders shun Nigeria’s crude

Posted by admin Headlines, National Politics, Oil Politics, Top Stories Wednesday, May 13th, 2015

By Michael Eboh with agency reports Nigeria’s dwindling revenue is set to worsen, as international crude oil traders have shunned the country’s export of Bonga crude oil grade for the months of May and June 2015, making it difficult for the country to find buyers for the product and putting the price of the commodity […]

NLC warns FG against fuel subsidy removal

Posted by admin Headlines, Oil Politics Tuesday, May 5th, 2015

The Nigeria Labour Congress has warned the Federal Government against removing fuel subsidy in the country. President of the NLC, Mr. Ayuba Wabba, argued in a statement on Tuesday that the disagreement between the Federal Government and the marketers on the exact amount of money owed the marketers, indicated that the current fuel scarcity could […]

Budget: FG made provision for fuel subsidy, Reps say

Posted by admin Budget, Headlines, House, Legislature, Oil Politics Friday, April 24th, 2015

The House of Representatives clarified on Friday that it approved N145bn for fuel subsidy in the 2015 budget. It said N100bn was approved for petrol subsidy while the balance of N45bn was for kerosene subsidy. Deputy House spokesman, Mr. Victor Ogene, who made the clarification in Abuja, explained that the N145bn was embedded in the […]

Oil subsidy removal, booby trap for Buhari –Bamidele

Posted by admin Headlines, Oil Politics Thursday, April 23rd, 2015

Chairman, House of Representatives Committee on Legislative Budget and Research, Mr. Opeyemi Bamidele Chairman, House of Representatives Committee on Legislative Budget and Research, Mr. Opeyemi Bamidele The Chairman, House of Representatives Committee on Legislative Budget and Research, Opeyemi Bamidele, has said the absence of a provision for fuel subsidy in the 2015 Appropriation Act is […]