Oando’s share price drops 10% following regulatory investigation news

Shares in Oando fell close to a one-month low on Monday on news that regulators were investigating the firm's shareholding structure following its $1.65...

NNPC is developing new technology to check oil theft – GM

The Nigerian National Petroleum Corporation (NNPC), says plans are underway to develop a technology that will help the nation curb oil theft, Premium Times...

Ratings agencies say Forte Oil’s outlook stable

Foremost ratings and research agencies, Agusto & Co and Global Credit Rating Co, have affirmed Forte Oil Plc’s investment grade rating, The Punch reports. In...

FG lost $6bn to DPR’s poor management of divested oil assets

Nigerian exploration and production (E&P) operators have said that the federal government lost an estimated $6 billion as a result of the Department of...

FEC approves IOUs to clear power sector, other debts – Adeosun

The Federal Executive Council on Wednesday approved the issuance of promissory notes for the settlement of debts owed local contractors worth N740 billion, Vanguard...

FG approves $40m 20mw power project in Escravos

The Federal Government’s approval of a 20-megawatts $40million gas power station in Escravos, Warri, Delta State, has improved hope for peace in the areas,...

NCDMB set to double local content intervention fund

The Nigerian Content Development and Monitoring Board (NCDMB), says it is considering increasing the Nigerian Content Intervention Fund by 100 per cent, Premium Times...

U.S. Justice Dept. moves to recover $100m in corrupt proceeds from Nigeria’s oil sector

The Department of Justice announced today the filing of a civil complaint seeking the forfeiture and recovery of approximately $144 million in assets that...

Report alleges Oando is under investigation by SEC, Oando says claims “unsubstantiated”

Integrated Energy Trader, Oando Nigeria PLC is allegedly under a comprehensive investigation by the Securities and Exchange Commission (SEC), Channels TV reports. Channels Television learnt...

Uncertainty in oil market threatens 2017 budget – Kachikwu

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, while speaking to journalists on Wednesday at the Federal Executive Council said the 2017...

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