Kachikwu allegedly advises Buhari to cede controversial OPL 245 to Shell, Eni

The Minister of State for Petroleum, Dr. Ibe Kachikwu, has allegedly advised President Muhammadu Buhari to cede the controversial OPL 245 oil bloc to...

I acted on Jonathan’s instructions as regards withdrawal of $1.3b NNPC cash – Diezani

Former Minister of Petroleum Resources Mrs. Diezani Alison-Madueke yesterday said she acted on the instructions of ex-President Goodluck Jonathan in directing the Nigerian National...

PIGB to curb theft, revenue loss in Nigeria’s oil sector – NEITI

The Nigeria Extractive Industries Transparency Initiative (NEITI), Sunday, commended the National Assembly for the passage of the Petroleum Industry Governance Bill (PIGB), stating that...

Reps pass major oil reform bill after 17 years

Nigeria has moved closer to turning an oil industry bill into law after a 17 year struggle to complete the legislation which aims to...

Panoro Energy enters into final settlement with Aje field JV partners

Panoro Energy ASA (the “Company” or “Panoro” with OSE ticker: “PEN”) is pleased to report that, further to its announcement of 2 November 2017,...

Senate says current petrol subsidy regime is illegal

The Senate yesterday said the current payment of N26 per litre to subsidise Premium Motor Spirit (PMS) by the federal government was illegal as...

Nigerian court jails foreign nationals for oil theft

The Nigerian Court of Appeal has dismissed an appeal filed by 14 foreign nationals contesting their conviction for oil theft, CAJ News reports. Officers from...

Italian court orders Shell, Eni to face trial over Nigerian oil block

An Italian federal judge has approved the prosecution of Royal Dutch Shell and Eni in the $1.3 billion controversial sale of the OPL 245...

High Court declares Aiteo boss’s earnings to be legitimate

The High Court sitting in the Federal Capital Territory, Nigeria has declared that earnings and assets accruing to Oil magnate and Aiteo Energy boss, Benedict...

FG sues JP Morgan for $875m over transfer of OPL 245 funds to Etete

The federal government is suing JP Morgan for $875 million (£660 million) for allegedly being the middleman in an illegal oil deal and making...

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