The Presidency has indicated plans to remove the controversial fuel subsidy as from 2012 fiscal year. The Federal Government claimed it was subsidising petroleum products by over N600 billion yearly. If removed, critics of the fuel subsidy removal argued that the pump price of fuel may rise from its current N65 to between N120 and […]
From 2003, Nigeria lost billions of dollars to multi-national oil companies from Asian countries under the oil-for-infrastructure agreements, an investigative report of Chatham House recently released in the United Kingdom has revealed. Successive Nigerian governments had entered into oil-for-infrastructure agreements with oil companies from India, South-Korea and China, but the projects were never executed even though […]
THOUSANDS have fled the Ikarama community, Bayelsa state following an inferno triggered by an oil spill from a Shell Petroleum Development Company (SPDC) pipeline. No fewer than 100 houses were also burnt by the fire, which has compounded the problems arising from the spill. Saturday Tribune gathered that the damage could have been worse, but […]
Oando Gas and Power Plc, a subsidiary of integrated energy group, Oando Plc, has recorded another landmark as it signed an agreement with the Rivers State Government to assume the operation and expansion of the state’s existing gas infrastructure in the greater Port Harcourt industrial areas. The development, which will deliver gas as a cheaper […]
NIGERIA’S crude oil production has increased from 2.4 million barrels per day (bpd) to 2.6 million bpd. The Ministry of Petroleum Resources had said early this year that Nigeria’s combined crude oil and condensate output was around 2.4 million bpd with capacity to reach three million bpd. Both the Special Adviser to the President on […]
AN unsavoury mix of intrigues and power-play may have been hampering the execution of the $400 million (N60 billion) gas treatment processing scheme at Utorogu and Oben in Delta State. The project, scripted to end gas flaring and provide dry gas for improved power generation in the country, has been bogged down by alleged […]
Criticisms have continued to trail the poor performance of Mrs Dezani Allison- Madueke as the immediate past Minister of the petroleum ministry even as report reaching African Examiner indicates that the former minister is making frantic efforts to get reappointed. Sources say that Mrs Madueke’s sin was her deliberate usurpation of the functions and authorities […]
THE Minister of Petroleum Resources, Mrs Diezani Allison-Madueke, yesterday strongly denied allegations of corruption which said she was indicted for fraud on two different occasions by the Senate, describing those behind the rumour are enemies of progress. She said the story was unfortunate and uncalled for adding that those behind the story are nameless cowards […]
The Alowa of Ilowa-Ijesha in Osun State, Oba Adebukola Alli, on Wednesday appeared before an Osogbo chief magistrates’ court on charge of rape of a member of the National Youth Service Corps (NYSC) serving in his domain. Oba Alli was said to have raped one Miss Helen Okpara, a corps member serving in his domain, […]
PRESIDIENT Goodluck Jonathan is to sign the much awaited Petroleum Industry Bill, PIB, into law before the expiration of the present administration in May 29, 20011. Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, who disclosed this to a large gathering of stakeholders and foreign investors at the ongoing Offshore Technology Conference in Houston said all […]
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