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...

Nigeria’s crude oil production dropped in May – OPEC

The Organisation of Petroleum Exporting Countries (OPEC) has disclosed that Nigeria’s crude oil production declined from the 1.923 million barrels per day (bpd) it...

Oil sector reform: Challenges of curbing gas flaring

The ongoing reforms in the oil and gas industry have afforded the country, for the first time, to focus on gas. Until recently, there...

Italian parliament debates govt response to Eni’s acquisition of OPL 245 in Nigeria

Italy’s Parliament Friday debated the Government’s response to questions put to it about Italian oil company ENI’s conduct in acquiring Nigerian oil block OPL245. On...

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,...

Nigeria’s oil output down to 1.96mbd – IEA

Nigeria’s crude oil output declined to a six-month low of 1.96 million barrels per day, mbd, according to the International Energy Agency, IEA. This means...

Nigerian oil and gas deposits to deplete within 40 years

A professor of Medicine and sustainable environment advocate, Prof. Vincent Idemyor, has predicted that Nigerian oil and gas deposits, particularly in the Niger Delta...

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