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109.5 million barrels of oil stolen in 2013 – NNPC

Posted by admin Headlines, Oil Politics, Raw Politics Wednesday, March 19th, 2014

GMD, NNPC, Mr. Andrew Yakubu The Nigerian National Petroleum Corporation has put the amount of crude oil stolen in the country in 2013 at 109.5 million barrels. The Group Managing Director, NNPC, Mr. Andrew Yakubu, in a special keynote address at the ongoing Nigerian Oil and Gas Conference in Abuja on Tuesday, said the country […]

Fuel scarcity lingers nationwide

Posted by admin Headlines, Oil Politics Saturday, March 15th, 2014

Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke | credits: File copy Two weeks after the scarcity of Premium Motor Spirit started, it has continued to bite hard in some parts of the country. PMS is popularly referred to as petrol. In spite of the promises by the Nigerian […]

Subsidy: FG pays N41bn to 27 oil marketers

Posted by admin Headlines, Latest Politics, Oil Politics Thursday, March 13th, 2014

Abuja – The Federal Government on Thursday paid N41billion to 27 oil marketers whose claims had been verified for fuel subsidy reimbursements. This is contained in a statement issued by Mr Paul Nwabuikwu, the Special Adviser on Media to the Minister of Finance, Dr Ngozi Okonjo-iweala, in Abuja. The marketers are A-Z Petroleum Product, ACORN […]

Refineries must be privatised, says Alison-Madueke

Posted by admin Latest Politics, Oil Politics Wednesday, March 12th, 2014

Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke Contrary to denials by the Presidency, the Minister of Petroleum Resources, Mrs. Deziani Alison-Madueke, said on Tuesday that the privatisation of the nation’s refineries remained the best way to tackle the problems in the petroleum sector. Alison-Madueke stated this when she appeared before the Joint Senate Committee […]

NLC vows to resist sale of refineries

Posted by admin Headlines, Oil Politics Saturday, March 8th, 2014

NLC President, Mr Abdulwaheed Omar The Nigeria Labour Congress on Saturday said it would resist the privatisation of the downstream sector of the petroleum industry by the Federal Government. The President of NLC, Abdulwaheed Omar, said speculations were rife that the ongoing fuel scarcity was a deliberate ploy by government to pave way for […]

EFCC to probe alleged missing $20bn oil revenue

Posted by admin EFCC Politics, Headlines, Oil Politics Thursday, February 27th, 2014

From ADETUTU FOLASADE-KOYI, Abuja Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Lamorde, yesterday assured the Senate that criminal investigation of the alleged missing $20 billion oil money will commence as soon as forensic auditors conclude investigations. Coordinating Minister for the Economy and Finance Minister, Dr. Ngozi Okonjo-Iweala, said two days ago that […]

‘NNPC spends $10.8bn on subsidy, pipeline repairs’

Posted by admin Latest Politics, Oil Politics Sunday, February 9th, 2014

By BLAISE UDUNZDE Finally, the Nigerian National Petroleum Corporation (NNPC) has cleared the air on the alleged missing $10.8 billion, admitting that the amount was used for pipelines repairs, payment of subsidy claims and maintenance of the nation’s reserves. Its Acting Group General Manager, Public Affairs, Umar Ibrahim, explained on Saturday that the reconciliation of […]

We’ll make NNPC account for missing $10.8bn oil revenue — Okonjo-Iweala

Posted by admin Latest Politics, Oil Politics Monday, January 20th, 2014

BY BABAJIDE KOMOLAFE, CLIFFORD NDUJIHE & IKENNA ASOMBAMinister for Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala has said that the ministry will make sure that the Nigeria National Petroleum Corporation, NNPC, accounts for the missing $10.8 billion oil revenue.She spoke, Sunday, in Lagos at a session with the South South Professionals, adding […]

SAN faults deployment of militants to guard pipelines

Posted by admin Headlines, Niger Delta, Oil Politics Friday, January 17th, 2014

Niger Delta militants | credits: File copy The deployment of militants to guard the country’s pipelines has been described as an indictment on the Federal Government. A Senior Advocate of Nigeria, Chief Adeniyi Akintola, stated this in Ilorin, Kwara State, on Thursday, adding that the continued incidences of bunkering and other forms of oil […]

‘Nigeria now losing 40,000 barrels of crude daily’

Posted by admin Headlines, Oil Politics Friday, January 3rd, 2014

Governor Emmanuel Uduaghan of Delta State on Thursday said the Federal Government had succeeded in bringing down the volume of crude oil being lost to thieves in the country to about 40,000 barrels from 100,000 daily. Uduaghan said this in an interview with State House correspondents shortly after attending a meeting inside the Presidential Villa, […]