News - oil

President Buhari Addresses The Nation (Full Speech)

3 hours ago /
Nation 

After more than three months in London on a medical vacation, President Muhammadu Buhari returned to the country on Saturday and this morning he addressed the nation. In his speech, the President spoke about Nigeria’s unity, agitations, and the war on Boko Haram, among other things. Read his full speech below: My dear...

FG Unveils Science And Technology Roadmap

3 days ago /
Nation 

The Nigerian government says plans are in place to diversify the nation’s economy through science and technology innovations. Minister of science and technology Ogbonnaya Onu made this known at an official unveiling of national science, technology and innovation road map in Abuja on Thursday. The minister said the new science road map...

Dangote Plans To Buy Arsenal, Sack Wenger – Report

3 days ago /
Sports  

Africa’s richest man,  Aliko Dangote, says the first move he will make if he succeeds in buying Arsenal is to fire Coach, Arsene Wenger. The Nigerian billionaire said in an interview with Bloomberg that he has coveted the English Premier League club since he became a supporter in the mid-1980s. “The first...

Cross-River State House Of Assembly Gives Petroleum Tank Farms 36 Days To Comply With Safety Laws

1 week ago /
Nation 

The Cross River state house of assembly has given all petroleum tank farms in the state 36 days to comply with safety laws or shut down their services. This followed a resolution on a motion by a member representing Yakurr-one state constituency Eteng Williams. Speaker of the house, John-Gaul Lebo said the house unanimously supported...

FEC Approves ICT Backbone

1 week ago /
Nation 

The Federal Executive Council has approved a national ICT infrastructure backbone.  The project will cost 328 million dollars and will ensure the interconnectivity of all ministries, departments and agencies of government.  The council also approved the refinancing of treasury bills from naira to dollars.   Minister of finance, Kemi Adeosun says it is...

NNPC Re-Constitutes Anticorruption Committee

1 week ago /
Nation 

The group-managing director of the Nigerian national petroleum corporation, NNPC, Maikanti Baru wants members of staff of the corporation to play their part in saving monies for Nigeria by being corrupt-free. He said this as he inaugurated the reconstituted NNPC anti-corruption committee in Abuja on Monday. There is no gain saying that...

Troops Neutralise 13 Terrorists

1 week ago /
Nation 

Troops of the Operation Lafiya Dole neutralised over 13 terrorists on Saturday in various areas in Borno and Adamawa during clearance operations. The army spokesman, Brig.-Gen. Sani Usman, confirmed in a statement that 12 were neutralised when the troops laid ambushed for them at Miyanti-Banki junction in Borno and one at...

FG Urged To Deploy Resources For The Oil And Gas Free Zone

2 weeks ago /
Nation 

The federal government has been urged to deploy adequate resources that could ensure proper functioning of the oil and gas free zone. At a free zone law review seminar in Abuja, speakers at the event said the role of the special zone management authority is vital to the economic prosperity of...

Jonathan Confirms Abuja House Burglary, Reveals Stolen Items

2 weeks ago /
Nation 

Former President, Mr Goodluck Jonathan has confirmed the theft of his property from his house in Abuja. He confirmed the incident in a statement by his spokesperson, Ikechukwu Eze, following some media reports that the home was stripped bare and some of the items stolen were being sold in markets. “The house,...

High Cost May Force Nigeria To Stop Oil Production – Kachikwu

2 weeks ago /
Nation 

The Minister of State for Petroleum Resources, Dr Ibe kachikwu, says Nigeria will be forced to stop the production of crude oil if the cost of doing that remains high. Dr kachikwu made the statement today at the opening ceremony of the Nigeria Annual International Conference and Exhibition organised by the...

Oil Prices Hit Two-Month High Of $53

3 weeks ago /
Business and Economy  

Oil prices hit a two-month high on Monday lifted by a tightening US crude market and the threat of sanctions against OPEC-member Venezuela. Brent crude futures were 52.90 dollars per barrel earlier in the day, their highest since May 25. U.S. West Texas Intermediate (WTI) futures were up 16 cents or 0.3per...

Borno: FG To Continue Its Search For Oil, Despite Recent Attack By Boko Haram

3 weeks ago /
Nation 

Nigeria's Federal Government says it will continue its search for oil and gas, despite recent attack by boko haram, in the lake chad basin area of Borno state. The minister of state for petroleum resources said this when he led a delegation of the ministry and the NNPC, to condole members...

Army Ambush Update

3 weeks ago /
Security 

The Nigerian army has described the incident of 25th July 2017 where some boko haram terrorists ambushed troops including members of the civilian joint task force escorting some staff of Nigerian national petroleum corporation as well as those of the university of Maiduguri on oil exploration in Borno Yesu district of...

Strike : NUPENG Gives FG 14 Day Ultimatum To Persuade AMCON

3 weeks ago /
Nation 

The National Union Of Petroleum And Natural Gas, Workers, NUPENG Has Given The Federal Government A Fourteen-Day Ultimatum To Persuade, Assets Management Company Of Nigeria, AMCON To Pay Up Workers Laid-Off After The Take-Over Of An Oil And Gas Company; Seawolf. At A Media Briefing Thursday In Abuja NUPENG Directed Its...

Boko Haram Ambushes Oil Workers, Abducts UNIMAID Staff

3 weeks ago /
Nation 

There are reports of a terror attack or what is perceived as an ambush on oil exploration workers and security operatives between Magumeri and Gubio Local Government Areas of Borno State. Sources say 10 academic and technical staff from the geology department of the University of Maiduguri (UNIMAID) were among those...

House Of Reps Investigates Alleged Brutalization Of Nigerian Workers

3 weeks ago /
Nation 

Nigeria’s house of representatives has mandated its committee on privatization to investigate the alleged brutalization of Nigerian workers in Indorama Eleme fertilizer and chemical company limited by soldiers and mobile policemen at the instance of expatriates. The discord is said to be as a result of the huge disparity in the...

Niger Delta Unveils Development Plan

3 weeks ago /
Niger Delta 

The minister of Niger Delta affairs, Usani Usani says it now has a workable 6 months strategy to ensure peace and development in the Niger Delta region. Usani who stated this in Abuja on Tuesday while unveiling the draft work plan to guide peace and development in the Niger delta said the planned strategy...

Osinbajo Seeks Oil, Gas Sector Reform In Africa

3 weeks ago /
Nation 

Nigeria’s Acting President, Professor Yemi Osinbajo, has restated the need for African leaders to come up with reforms that will ensure development in the oil and gas sector. Professor Osinbajo expressed confidence that such reforms would go a long way in cushioning the losses incurred as a result of the fall...

Update: NNPC Tank Farm Fire Incident

4 weeks ago /
Nation  Niger Delta 

One week after the fire incident at the NNPC tank farm within the Calabar free trade zone, the department of petroleum resources, DPR, has sealed up the linc oil tank farm over what the regulatory agency describes as illegal activities of the company. Speaking during an inspection of the facilities in Calabar, DPR director in charge of...

NSCDC Destroys Illegal Refinery

4 weeks ago /
Nation 

The Nigeria security and civil defence corps (NSCDC) delta state command has uncovered and destroyed a network of illegal refinery around NPDC crude oil pipeline in Otereko community in Ughelli south local government area of delta state. The operation which was carried out in the early hours of Friday was...


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