News - oil

Environmental Group To Monitor Niger Delta Development Projects Scientifically

2 days ago /
Environment  Nation 

The Executive Director, Africa network for environment and economic justice (ANEEJ) David Ugolor says it has launched an online scientific instrument for data gathering and analysis, to monitor and evaluate development projects in the Niger Delta. The program under the Niger Delta transparency index which is expected to engender transparency, accountability and prudence in the...

Nigerian Governors Approve $1bn To Fight Terrorism

2 days ago /
Nation 

Thirty-six states of the Federation have given permission to the Federal Government to utilise $1billion from Nigeria’s excess crude account to tackle Boko Haram insurgency. The approval, which was one of the major issues discussed at the National Economic Council meeting in Abuja, comes as the states’ support to the Federal Government to...

Young Nigerians Explore Alternatives To Oil Revenue

3 days ago /
Nation 

The drive by government to seek alternatives to oil revenue is capturing the minds of young Nigerians who are exploring ways indigenous raw materials can be technologically used to address growing needs of the people. At a quiz competition in Abuja, the students showed through their presentations that the time has...

Indonesia To Invest In Nigeria's Economy

3 days ago /
Business and Economy   Nation 

Indonesia ambassador to Nigeria, Harry Purwanto says his home government is ready to invest in Nigeria’s solid minerals and mining sub-sector. The Indonesian envoy said this during the signing of a memorandum of understanding, MOU between Nigeria and Indonesia owned mining corporation, P.T. Timah which is set to invest billions of...

Oando Drags SEC To Appeal Court

4 days ago /
Nation 

Oando Plc has approached the Court of Appeal with a view to lifting the technical suspension imposed on its shares on the floor of the Nigerian stock market by the Securities and Exchange Commission (SEC). Oando wants the Court of Appeal to make an order “reversing the decision of Justice Rilwan...

Fuel Scarcity Persists, Day 8

5 days ago /
Nation 

 It is 8 days since the queues started building up across the country and over four days since the NNPC released its strategic fuel reserve to help quell the situation. So how much impact has this made? Our correspondent went to the streets of Abuja to find out. As it is the responsibility...

Baru Woos Foreign Investors

6 days ago /
Nation 

The Group Managing Director Of The Nigerian National Petroleum Corporation (NNPC), Maikanti Baru has called on foreign investors to partner with the corporation in its multi-billion dollar projects expected to come up in the new year. Baru, who made the call in London as Forbes conferred on him the award for...

NSCDC Warns Against Fuel Hoarding

6 days ago /
Nation 

The Commandant General, Nigeria Security and Civil Defence Corps (NSCDC) Abdullahi Gana Muhammadu, has warned petrol dealers in the country against inflicting hardship on the people by hoarding the product. Gana who made this known during a surveillance operation conducted by the corps on the emerging fuel scarcity in the country,...

Abuja Court Dismisses Suit On PDP Campaign Fund

1 week ago /
Politics 

A Federal Capital Territory high court has dismissed a suit seeking to expose the sources of campaign fund for the peoples democratic party, PDP, during the 2015 presidential election. Justice Olukayode Adeniyi dismissed the suit on the ground that the attempt to expose a company, northern belt oil and gas company limited...

Reps Adopt 2018-2020 MTEF Document: $307 Exchange Rate, 2.3m BPD

1 week ago /
Nation 

The House of Representatives was in agreement with the executive on the set parameters in the 2018-2020 medium term expenditure framework (MTEF) and fiscal strategy paper (FSP). This was despite the attempt by Betty Apiafi, to divert attention to the statue recovered looted funds in funding the 2018 budget. The house...

Senate Approves MTEF/FSP; Pegs Benchmark At $47 Per Barrel

1 week ago /
Nation 

The senate has approved a benchmark of $47 per barrel of crude oil for the proposed 2018 budget. This represents an increase of $2 from an initial projection of $45 per barrel. Senate took the decision on Tuesday as it received and approved the report of its joint committee on finance and...

AU To Evacuate Migrants From Libya

1 week ago /
International News 

The African Union (AU) has agreed to evacuate some 15,000 African migrants in Libya before the end of year, deputy chairman of the au commission, Kwesi Quartey, said the repatriations would be voluntary, and would be done in partnership with the international organization for migration At least 20,000 migrants are being...

Baru Returns To Fuel Queues, Cuts Short Visit To London

1 week ago /
Nation 

In a bid to salvage the fuel supply and distribution challenges witnessed in some parts of the country due to panic buying by motorists, the group managing director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, on Tuesday, cut short his trip to London. Baru, who was billed to receive...

BREAKING: Senate Passes MTEF, Increases Oil Price Benchmark

1 week ago /
Nation 

The Senate has passed the Medium Term Expenditure Framework (MTEF) for 2018 to 2020. In passing the MTEF today, the Senate, however, increased the benchmark price of crude proposed by the Federal Government from 45 to 47 dollars per barrel. Also, the lawmakers approved 2.3 million barrels oil production per day, an...

Nigeria’s Ambassador Kazaure Resumes In Australia

1 week ago /
Nation 

Nigeria’s new ambassador to Australia, Bello Hussein Kazaure, says the Federal Government will continue to strengthen the existing cordial relationship between the country and new Zealand particularly in the areas of capacity building, military training, primary health care delivery, education, agriculture and oil and gas. Ambassador Kazaure said this when he...

Hungary Eyes Nigerian Crude Oil, LNG

2 weeks ago /
Business and Economy  

The Hungarian Government has indicated interest to purchase crude oil and Liquefied Natural Gas (LNG) from Nigeria. The Hungarian Ambassador to Nigeria, Professor Gabor Ternak, disclosed this on Tuesday during a visit to the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, in Abuja. In a statement...

NNPC Justifies 2.3 Million Barrels Per Day Oil Output For 2018 Budget

2 weeks ago /
Nation 

The Nigerian National Petroleum Corporation (NNPC) says the federal government’s 2.3 million barrels per day crude oil projection for the 2018 budget is achievable and realistic.. Group general manager, corporate planning and strategy, Bala Wunti, made this submission on Monday during a presentation to the house of representatives joint committee on...

Wike Criticises FG’s Commitment To Ogoni Clean-Up

2 weeks ago /
Nation 

Rivers State Governor, Nyesom Wike has criticised the commitment of the Federal Government in cleaning up oil spillage in Ogoni land. Mr Wike lamented that nothing was on the ground to show that the exercise is work-in-progress. The governor complained about the state of work done so far while receiving senators on...

Fayemi Canvasses Removal Of Mining From Exclusive To Concurrent Legislative List

2 weeks ago /
Nation 

The Minister of mines and steel development, Kayode Fayemi, has canvassed an urgent review of the country’s laws to allow states play more prominent roles in mining issues as a necessary step in making the mineral and mining sector more profitable. The minister stated this in his keynote address at the...

NNPC GMD, Inspects A.B.U Mini Refinery

2 weeks ago /
Nation 

There is urgent need for Nigeria’s academia to commit to technology excellence as the country's oil and gas industry craves for complete indigenization of manpower and equipment manufacturing. This call was made by the group-managing director of the Nigerian National Petroleum Corporation Maikanti Baru while on a visit to the Ahmadu...


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