Oil marketer, cargo surveyor get N2bn bail in subsidy fraud case

A Federal High Court sitting in Lagos, Thursday, granted bail in the sum of N2 billion to an oil marketer and cargo surveyor, charged...

FEC approves N420bn contract for development of Onne Port

The Federal Executive Council (FEC) has approved a 2.8 billion dollars (about N420 billion) contract for the development of the Onne Oil and Gas...

Pirates attack oil vessel, abduct 4 Indians, Polish crew members

Pirates in speedboats attacked an oil supply vessel and kidnapped four Indians and Polish crew members in the Niger Delta, last week, two security...

NLNG Sues NIMASA over disputed levies

The Nigeria Liquefied Natural Gas (LNG) Limited (NLNG) Tuesday dragged the Nigerian Maritime Administration and Safety Agency (NIMASA) to a Federal High Court in...

FG pays N192.5bn subsidy claims to marketers

As part of the Federal Government’s renewed commitment to ensure availability of petroleum products at subsidised prices, the Federal Ministry of Finance has stated...

Fraudulent oil marketers tamper with petroleum trucking mechanism

The Petroleum Equalisation Fund (Management) Board has raised the alarm on activities of corrupt oil marketers who are hell-bent at subverting the smooth implementation...

Navy boss promises to stamp out oil theft

The Flag Officer Commanding, FOC, Nigerian Navy Logistic Command, Oghara, Delta State, Rear Admiral Abdu Shettima, says the Federal Government will continue to renew...

Pipeline explosion rocks Ibadan again, farmlands ruined

Two weeks after a pipeline explosion in Apata Area of Ibadan, another explosion has rocked Alapata community area in Ido Local government area of...

IEA downplays Nigeria’s plans to export refined products

Projections that Nigeria will begin to export refined petroleum products by 2016 may not materialize after all, as the International Energy Agency, IEA, yesterday,...

Samsung Heavy wins $3bn FPSO platform order from Nigeria

South Korean shipbuilder Samsung Heavy Industries said Thursday it had won a $3.0 billion order to build a giant offshore oil storage platform in...

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