$940m lost to piracy in Gulf of Guinea – Nigerian Navy

The Nigeria Navy, NN, authorities say piracy in the Gulf of Guinea, GoF, cost the world economy about $940 million last year, with an...

Nigeria lost over $100 billion to foreign crude tankers in 5 decades – NCDMB

The Nigerian economy lost over $100bn in five decades by allowing its crude oil to be carried exclusively by foreign owned tankers, the Executive...

Shell and Chevron pull out of Olokola LNG project

Four years after BG Group divested from Olokola LNG project, two other International Oil Companies, IOC, Chevron and Shell, have pulled out, a source...

NIMASA moves to avert U.S. sanction over alleged port insecurity

The management of Nigerian Maritime Administration and Safety Agency (NIMASA), on Wednesday assured all stakeholders especially the international community of its resolve to ensure...

‘Nigeria loses $2.5bn to gas flaring yearly’ – HOMEF

Health of Mother Earth Foundation, HOMEF, said that Nigeria loses more than $2.5 billion through the flaring of associated gas annually. Mr. Nnimmo Bassey, Executive...

OPTS disputes Nigeria’s daily crude oil theft figures

Members of the Oil Producers Trade Section (OPTS) have said the current figures bandied around as Nigeria’s daily crude oil loss to theft, owing...

NSC chairman seeks maritime stakeholders’ cooperation to actualise trade facilitation

The Chairman of the governing board of the Nigerian Shippers’ Council (NSC), General Salisu Inrahim (Rtd.) has called on stakeholders in the maritime sector...

OAS Helicopters signs MoU with Gulf Helicopters for Nigeria service

OAS Helicopters signed a MoU with Gulf Helicopters of the Middle East for the provision of services to the upstream oil and gas sector...

Indigenous firms’ annual investments may reach $1.5b by 2014

The indigenous operators in the nation’s petroleum sector may be bracing up for a big challenge in the next few months, if the legislative...

Navy parades four suspected pirates in Lagos

The Nigerian Navy on Tuesday paraded four suspected sea robbers who had allegedly hijacked a barge (huge boat) MV Crow, on August 14, 2013...

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