Nigeria’s plans to put in a further $25 billion dollars into the Nigeria Liquefied Natural Gas Company (NLNG) for an expansion programme may have been put...
The Senate joint committee on Petroleum Resources, made up of Upstream, Downstream and Gas, has announced the commencement of the probe of alleged N10 trillion subsidy...
Contrary to claims by the Nigerian National Petroleum Corporation (NNPC) that the shut Warri Refinery would soon come back on stream, findings have shown that this...
The Senate has said corrupt Nigerians are hiding stolen money in caskets and uncompleted buildings in remote villages in some parts of the country. The Senate...
Of the 597.207 million barrels of crude oil exported from Nigeria in 2016, India had the highest demand of 127.1 million barrels (35 per cent), beating...
The Nigerian National Petroleum Corporation (NNPC) yesterday said it has renegotiated its deep offshore rig rate from a staggering $580,000 to $164,000 per day, translating to...
Boldly, Andrew Yakubu, the former group managing director of the Nigerian National Petroleum Corporation (NNPC) has told a Kano State Federal High Court to order the...
Former Group Managing Director of the NNPC, Mr. Andrew Yakubu is to lose the $9,772,00 and £74,000 recovered from him to the Federal Government. A Federal...
By Joseph Edgar…. It has been announced by the EFCC that they have recovered an estimated $9m and another £75,000 in the Kaduna house of a...
A disturbing revelation has come out from the Nigerian National Petroleum Corporation, (NNPC) that about 45 per cent of refined products from the Kaduna Refinery have...
The long drawn face off between the Central Bank of Nigeria (CBN) and the Nigeria National Petroleum Corporation (NNPC) over deployment of foreign exchange realized from...
Illegally refined kerosene has flooded various markets in Delta State cushioning the effect of high prices of the commodity from the Nigerian national Petroleum Corporation (NNPC)...
The Nigerian National Petroleum Corporation (NNPC) has so far raked in about $500 million into government’s coffers from crude oil swap deals introduced in 2016, according...
The directive from the Chief of Staff to the President, Mr Abba Kyari, that the N150 billion owed to major marketers be paid immediately, has elicited...
The rise in costs of kerosene and cooking gas in Nigeria in the past six months has impacted negatively on forestation programme of the country. It...
New findings have revealed that the market open price of petrol has hit N160 per litre. This is as a result of the landing cost that...
The Petroleum Products Pricing Regulatory Agency (PPPRA), which controls the cost of petrol in the country, is in disarray and this is disrupting the implementation of...
Amidst kerosene scarcity in parts of Nigeria, it has been confirmed that the NNPC had since October 2016 stopped all direct involvements in importing the products...
More than the $6.5 billion, representing about 70 per cent expected income generation by the Nigerian National Petroleum Corporation (NNPC), between 2015 and 2016 has been...
Nigeria will from this year begin to track the volume of its crude oil production from fields of production and loading bays, to sales destinations in...
What to do with Nigeria’s inefficient and under-performing petroleum refineries is still a cause for concern. On Sunday, the Nigerian National Petroleum Corporation (NNPC) said that...
What looks like a serious row is brewing in the downstream oil sector with major oil marketers threatening total withdrawal of supply unless the Nigerian National...
There are strong indications that about five bank chiefs may soon face trial over $153million allegedly withdrawn by the ex- Minister of Petroleum Resources, Mrs. Diezani...
What was expected to bring a long lasting peace to the Niger Delta area seems to have been lost following an announcement on Wednesday by the...
The Nigeria Extractive Industries Transparency Initiative (NEITI) audit report for 2014 has revealed what the average watcher of the Nigerian economy knows, that the Nigeria National...
The three tiers of government comprising federal, states and local government councils shared a grand total of N4.97 trillion as federation revenue approved by the Federal...
Nigerian President, Muhammadu Buhari, is unimpressed by the poor revenue contribution of the Nigerian National Petroleum Corporation (NNPC) to the National treasury, following the quarterly report...
All efforts by some oil firms in Nigeria to lobby the National Assembly for support against a recent allegation that they were covering up debts of...
Senator Dino Melate (APC, Kogi State) has derided the present administration for allowing corruption thrive in the NNPC in spite of its stance against graft. The...
The Federal Goveenment is making plans to construct a 1,000 kilometre pipeline from Niger Republic to the Kaduna Refinery. The pipeline, according to the Group Managing...
The management of Port Harcourt Refining Company (PHRC) has announced its readiness to commence the production of Aviation Turbine Kerosene (ATK) popularly known as aviation fuel....
Unable to meet its financial obligations in the Joint Ventures (JVs) with international oil companies in the country, the Federal Government has pulled out. Minister of...
If the Nigerian government is able to resolve the Niger Delta crisis, the country will enjoy at least $3 billion cash call annually from the National...
Nigerian government has at last bowed to the stringent conditions handed down to it by the International Monetary Fund (IMF) before any financial assistance could be...
The hope of having the price of kerosene come down sooner has been dashed with the insistence by the Nigerian National Petroleum Corporation (NNPC) that it...
Experts have described as a waste of resources government’s proposal to spend about $2 billion for turn around maintenance (TAM) of Nigeria’s three refineries any moment...
Contrary to official claims, the oil sector in Nigeria has suffered its worst fall as the country is said to have recorded a drop of about...
Attacks on oil facilities by Niger Delta militants and activities of oil pipeline vandals cost Nigeria $7billion (about N2.1trillion) from January 2016 till date, the Nigerian...
Barely a week after the ExxonMobil Exploration Company announced it was divesting from one of its major downstream subsidiary, OPL223 and OML Ventures, in Nigeria, the...
The Nigerian National Petroleum Corporation, NNPC, on Tuesday said there is no plan to increase the pump price of petrol. According to the NNPC, the current...
An international oil outfit, Baker Hughes, has noted that Nigeria has consistently shut down its offshore oil rigs from 12 to 8, recording four shutdowns between...
In what looks like a confirmation of speculations over the past weeks, the Nigerian National Petroleum Corporation (NNPC) has admitted that the current market price of...
Despite efforts by the Federal Government to hold dialogue with Niger Delta militants, they have continued to threaten International oil companies in the country. The Greenland...
In a bid to regain its lost impact on the international oil market, Nigeria has opted to slash the official selling price of the country’s crude...
For a nation which economy is already officially in recession due mainly to reduced revenue generation, this is not good news. The Nigerian National Petroleum...
At least $376.5bn was lost as a result of militants’ attacks on gas facilities in Nigeria between June and September 2016. This resulted from a 45 per cent drop in production of the Joint Venture assets and the Nigerian Petroleum Development Company (NNPC) within the period. The NNPC latest monthly...
Non passage of the Petroleum Industry Bill (PIB) has cost Nigeria $250 billion in the last five years, Nigerian Extractive Industries Transparency Initiative (NEITI) said on...
Former President Olusegun Obasanjo has said there was nothing wrong for Nigerian government to sell national assets at a time of recession like the present one...
Noticeable tension has gripped officials of the ministries, NNPC and its subsidiaries following the move by the Nigeria House of Representatives to commence probe into an...
The Minister of Finance, Mrs. Kemi Adeosun, has disclosed that a total sum of N510.2 billion was approved by the Federation Account Allocation Committee (FAAC) for...
