Crude oil
2 days ago
The Federal Government has paid out more than $1.5 billion since 2020 to protect the nation's oil installations and curb crude oil theft, the Secretary of the Government of the Federation (SGF), George Akume, revealed on Thursday. Akume, represented by Permanent Secretary Maurice Nandi, disclosed this at a public hearing of the House of Representatives…
20 May
Nigeria's crude oil production is approaching 1.7 million barrels per day, according to the Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari. Kyari said the 1.7 million barrels per day was a boost from the 1.28 million barrels reported in April. He disclosed this when he addressed stakeholders at an engagement between…
15 Apr
The Economic and Financial Crimes Commission (EFCC), on Monday, charged five defendants before a Federal High Court in Lagos, over an illegal deal in petroleum products.
14 Apr
Nigeria may struggle to find buyers for its crude oil as about 30 out of 53 cargoes loading for May are stranded. This is coming despite the low production currently being experienced in the country as Angola
23 Feb
Crude oil has been good to our nation. Very good, indeed. It is easy to rhapsodise our oil wealth and the little village, Oloibiri, where it all began in 1956.
24 Jan
Nigeria is asking the global community to allow the continent to prioritise responsible crude oil exploration even as the upstream exploration and production activities are projected to remain challenging in 2024.
16 Jan
Nigeria may fail to produce about 138 million barrels of crude oil worth $10.73 billion in 2024 even as President Bola Tinubu sets Nigeria’s N28 trillion 2024 budget on an unrealistic oil and gas outlook that has consistently failed in the last 10 years.
18 Dec 2023
The newly appointed Board and Management team for the Nigerian National Petroleum Company Ltd (NNPCL) on Monday pledged to produce two million barrels of crude oil on a daily basis from 2024.
26 Nov 2023
About 3,000 barrels of crude oil were lost to the Nov. 15 oil spill from the offshore Egina Floating Production Storage and Offloading (FPSO) vessel of TotalEnergies.
22 Nov 2023
The Federal Inland Revenue Service (FIRS) has charged foreign companies shipping crude oil from Nigeria to comply with the country's tax laws in their operations.
2 Nov 2023
• IOCs, independent oil producers worry over commercial, data security • Crude oil edges slightly higher amid Middle East tensions Operators in the oil sector expressed concerns over commercial and contract issues as Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in Abuja, yesterday, moved to enforce mandatory supply of crude to local refineries. Operators of local…
25 Oct 2023
The Group Managing Director of Rainoil Limited, Dr. Gabriel Ogbechie, has emphasised that increasing Nigeria's crude oil production is a solution to the current economic challenges facing the country. He made these remarks on Tuesday while speaking during a roundtable session at the 29th Edition of the National Economic Summit at the Transcorp Hilton, Abuja.…
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“Awesome GOD" is a biblical expression that appears several times in the scriptures (Nehemiah 1:5; Nehemiah 9:32; Psalm 47:2, and Daniel 9:4). The phrase is used in the Old Testament to describe God or things related to Him. The phrase can be translated in several ways, including being "great" and "awe-inspiring" as in Deut.7:21, “You…
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A High Court sitting in Rivers State has stopped the Peoples Democratic Party (PDP) from conducting any congress of the party in the state. The court gave the order following an ex parte motion filed by 21 members of the party in the state led by Ilaye Sunday Kitchen and Agile Handsome Ekelechi. The plaintiffs…
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The Lagos State Government has announced the postponement of the e-call-up system implementation for the Lekki-Epe corridor, initially scheduled to commence on August 1, 2024. The Deputy Director of Public Affairs, Bolanle Ogunlola, made the announcement on Friday. Ogunlola said the postponement decision follows stakeholders' requests for an extension to ensure full compliance. She said,…
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