Conoil Plc records profit of N1.6 Billion at half year

Conoil Plc has said it recorded 255 per cent increase in profit after tax from N450.9 million in 2012 to N1.6 billion at as...

RMAFC Commissioner wants states, LGs to diversify revenue base

A Commissioner in the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), Alhaji Saidu Fawu, has urged states and local governments to diversify their resource...

Need for oil majors to list on the NSE as Shell, Chevron, others declare...

Nigerians were once again the losers, as six international oil companies — Royal Dutch Shell, ConocoPhilips, Chevron, Total, Eni and ExxonMobil — paid their...

Okonjo-Iweala decries N232bn fraudulent subsidy claims

The Minister of Finance, Dr. Ngozi Okonjo-Iweala, has decried the N232bn ($1.5bn) overpayments made to “fraudulent” oil marketers. Okonjo-Iweala, who is also the Coordinating Minister...

CAMAC Energy Inc. announces losses for second quarter 2013; provides operational update

CAMAC Energy Inc. today announced a net loss of $4.4 million, or $(0.03) per diluted share for the quarter ended June 30, 2013. For the same period in 2012,...

Nigerian crudes edge higher, as Libyan disruptions continue

Nigerian crudes continued to edge higher despite a lack of activity as news that Libya would not issue September allocations for some grades due...

NEITI clears PPPRA of N4.423bn debt, disputed sum traced to CBN

The Nigerian Extractive Industries Transparency Initiative, NEITI, Tuesday, cleared the Petroleum Products Pricing Regulatory Agency, PPPRA, over the remittance of the sum of N4.423...

FG withdrew N606bn from ECA in the first quarter of 2013

The Federal Government withdrew the sum of N606.12bn from the Excess Crude Account, ECA, within the first three months of this year, the Budget...

Nigeria earned N3.81 trillion oil revenue in the first 6 months of 2013

Oil revenue accounted for 86.67 per cent of gross federally-collected revenue from January to June 2013, as the Federal Government earned a total of...

OPEC daily basket price closed at $105.27/b on Monday, August 12th

The price of OPEC basket of twelve crudes stood at 105.27 dollars a barrel on Monday, compared with $104.94 the previous Friday, according to...

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