The Executive Secretary of the Nigeria Extractive Industries (NEITI), Ogbonnaya Orji has stated that the exact quantity of crude oil produced in the country is unknown....
Management of Dangote Cement Plc has clarified that the price of a bag of cement from its factories and plants across Nigeria (as at 12th April,...
Our Reporter Oil prices jumped on Tuesday after increasing energy demand from China, world’s second-largest oil consumer. The price of Brent crude, the grade at which...
A.nalysts express concern that pauses on the Johnson & Johnson vaccine could delay economic recovery and limit oil demand growth. Oil prices settled higher Tuesday on strong Chinese import...
The Nigerian National Petroleum Corporation (NNPC) has announced a 37.21 % decrease in cases of pipeline vandalism across the country in the month of January 2021.This...
Higher prices are buoying drillers’ confidence: Benchmark Nymex oil gained nearly 35 percent in the past four months after OPEC and its alliance cut production to...
Nigerian Billionaire businessman, Joseph Ezeokafor also known as Jowizaza, has taken to Snapchat to show off his fleet of automobiles. The oil tycoon, who appears to...
Biafra Nations League, BNL, has asked oil companies operating in Bakassi Peninsula to start paying taxes to its (BNL)leadership or face the impending doom that will...
Nigeria and several other members of the Organisation of the Petroleum Exporting Countries exceeded their oil production quotas in March, according to S&P Global Platts. Nigeria,...
Biafra Nations League, BNL, a secessionist group in the eastern region of the country, has threatened to unleash mayhem on oil companies operating in Port Harcourt,...
CHIEF Timipre Sylva, Minister of State For Petroleum Resources, on Friday said the Nigerian Oil and Gas Park Scheme (NOGAPS) at Emeyal, Ogbia Local Government Area,...
The federal government has stated that the petroleum industry bill (PIB) will end the blame game in Nigeria’s oil and gas sector. Following the dependence on...
Civil society organisations have condemned the huge loss in crude oil production in Nigeria and called for the metering of oil pumped to stop the loss....
Oil prices dropped early yesterday, as renewed concerns about oil demand had the market rethink whether last week’s non-member countries of the Organisation of Petroleum Exporting...
US Secretary of Energy Jennifer Granholm called her Saudi counterpart Prince Abdulaziz bin Salman on the eve of the meeting to highlight the importance of ‘affordable...
40-year-old Awaisu Auwalu of Samegu Quarters Kano has been arrested for allegedly beating his son to death for allegedly stealing two gallons of palm oil....
The Finance Act 2020, which came into effect 1st January 2021, amended Section 18(1) of the Nigeria Export Processing ZonesAuthority (NEPZA) and Oil and Gas Free...
The Federal Inland Revenue Service, FIRS, has issued a fresh notice to all approved enterprises operating in free trade zones, export processing zones, and Oil and...
By Taofik Salako, Deputy Group Business Editor Seplat Petroleum Development Company Plc has raised $650 million in debt issue, setting record as the largest bond...
A fresh wave of COVID lockdowns may cause OPEC+ to extend cuts into May when it meets Thursday, Reuters reports. Saudi Arabia is prepared to support...
The fire, which seriously injured five people and prompted the evacuation of hundreds of nearby residents, has been localised and could be extinguished today, Pertamina’s president...
By Lucas Ajanaku Oil prices were up at the weekend as rescue efforts to float the stranded container ship in the Suez Canal could take weeks,...
The kidnappers of the Nigeria Labour Congress, NLC, Chairman in Cross River State, Comrade Ben Ukpepi have reportedly contacted the family demanding N150m ransom. A source,...
Salvage teams have freed a container ship stuck in the crucial waterway since last week, blocking hundreds of vessels. Asian share markets have edged higher while...
A file photo of a court. A Federal High sitting in Port Harcourt has convicted and sentenced one Job Wilfred to three years imprisonment. Wilifred...
The Finance Minister-nominee, Ken Ofori-Atta says his outfit’s delay in providing the Public Interest and Accountability Committee (PIAC) with data on how the government expended the...
The Nigerian government is targeting about $600 million from sales of 161 marginal oil fields in the country. Addressing journalists at a weekly ministerial briefing, on...
Oil prices fell over one per cent on Thursday amid persistent demand worries as Europe faces a surge of Coronavirus infections and a slow vaccination roll...
The 13 Republican-leaning states seek a court order ending the moratorium that United States President Joe Biden imposed in January. Thirteen states sued the administration of...
The Port Harcourt Zonal Office of the Economic and Financial Crimes Commission EFCC, has secured the conviction and sentencing of Pascal Nnaji before a Federal High...
COVID-19 took a heavy toll on Aramco but the company still made a profit of $49bn and will pay shareholders dividends worth $75bn. Saudi Arabian state...
Chuks Ibegbu, the immediate past Deputy National Publicity Secretary of the apex Igbo socio-cultural organization, Ohanaeze Ndigbo, under Chief John Nnia Nwodo, has called for the...
The militia wing of the Biafra Nations League (BNL) has issued a quit notice to companies operating under Nigeria in the Bakassi peninsula. The group alleged...
Saudi Arabia condemns attack saying it targeted ‘the security and stability of the world’s energy supplies’. Saudi Arabia said drones struck an oil facility in the...
Indian state-run refiners including Indian Oil Corp, the country’s biggest crude processor, are planning to cut purchases from Saudi Arabia in May and buy more from...
The Civil Society Platform on Oil and Gas has posited that Ghana faces grim prospects as the world turns its attention from fossil fuels to renewables....
Some suspected oil vandals who were arrested for pipeline vandalism, have reportedly escaped from the custody of the Nigeria Security and Civil Defence Corps (...
File photo of Lagos State Judicial Panel The Lagos State Judicial Panel on Restitution for victims of SARS and other related matters has summoned three...
By Lucas Ajanaku Crude oil could hit $100 and top it, and this could happen before this year’s end, an American multinational independent investment bank and...
Melbourne, Australia – Peter Garrett, the bald, two-metre-tall frontman of Australian rock band, Midnight Oil, has never had much difficulty attracting attention. But now the outspoken...
In spite of the rising trend in the price of crude oil, the nation’s external reserves have fallen by $1.86 billion in seven weeks to $34.66...
A pastor identified as Jeffery Ihievu has been arrested by operatives of Edo State Police Command for indecent assault after he touched the private parts...
The new EFCC boss, Abdulrasheed Bawa, addresses journalists after a court session in Lagos on March 10, 2021. The trial of Abubakar Ali Peters and...
Nnamdi Kanu, leader of the Indigenous People of Biafra, IPOB, has promised to distribute free oil to some countries. Kanu said Biafra would distribute free oil...
Our Reporter Oil prices fell on Monday, hours after an early sharp price rise caused by a drone attack on Saudi oil infrastructure. In the early...
Tyre, Lebanon – The sandy shores of the Tyre nature reserve on the Mediterranean are a nesting ground for more than one species of endangered turtles....
This file aerial picture taken on August 30, 2013 shows the Centenario exploration oil rig, operated by Mexican company “Grupo R” and working for Mexico’s state-owned...
For the first time in 2021, oil price has risen to $71.28 per barrel in the international market. This is coming on the heels of Thursday’s...
Brent crude futures rose above $70 first time since COVID pandemic began while US crude was its highest in two years. Brent crude futures surged above...
Yemen’s Houthi rebels fire ballistic missiles and drones at oil facilities and military sites in Saudi Arabia. Yemen’s Houthi rebels fired drones and missiles at the...
By Afolabi Idowu Expert in energy and logistics sector Mr. Elvis Chukwudi Okonji has urged the players in the industry to deepen their core competence,...
The Ohanaeze Ndigbo Youth Council Worldwide, OYC, on Saturday, cautioned a group, Concerned Northern Forum to stop meddling in the political issues of the Southeast. The...
Explosions rocked local oil refineries near the towns of al-Bab and Jarablus sparking large fires. A series of missile attacks near oil facilities ignited major blazes...
By Lucas Ajanaku Brent crude oil prices rose to $67 buoyed by speculation that the Organisation of the Petroleum Exporting Countries (OPEC) and their Russia-led allies,...
Saudi Energy Minister Abdulaziz bin Salman on Thursday congratulated Nigeria on the full implementation of compensation cuts to make up for oil overproduction. The minister...
Riyadh is considering extending its voluntary oil cuts of one million barrels per day into April, Reuters news reports. Oil prices rose nearly 5 percent on...
The House of Representatives has resolved to investigate the alleged missing 5.2 million barrels of crude oil. The alleged missing oil is under the Direct Sales...
Oil prices rose on Wednesday, boosted by expectations that OPEC+ producers might decide against increasing output when they meet this week. Signs of progress in the...
Oil prices slipped, on Tuesday, as expectations that top producers would agree to raise oil supply in a meeting this week weighed on sentiment, already hit...
By Lucas Ajanaku There are fears that the fuel price hike might be inevitable with banks and other renowned agencies predicting that the price of crude...
In what has become a routine in Nigeria’s national life, the week starting from 21st of February to 27th, was another eventful one. Curiously, the week...
Volunteers in southern Lebanon begin removing tar from beaches after an oil spill that could endanger marine life. Lebanese began cleaning beaches on Saturday after an...
Norway could license companies for seabed mining by 2023 to meet demand for batteries, wind turbines and solar energy. Source
It’s the final week of February, and if you’re anxiously awaiting those first little signs of spring, you’re not alone. There are plenty of reasons this...
Solidaridad has enrolled more than 500 youth to undergo a competency-based training in oil palm under the Agricultural Technical and Vocational Education Training (ATVET) initiative of...
Northern elders have told urged Islamic cleric, Sheikh Abubakar Gumi to immediately abort his mission of mediating between criminal bandits and the government if he has...
By Lucas Ajanaku Oil prices rose yesterday despite a surprising Energy Information Administration (EIA) inventory report, which reflected a build in crude stocks and virtually unchanged...
By Lucas Ajanaku Goldman Sachs Group Inc. has raised its price estimates and is predicting that Brent will reach $70 a barrel in the second quarter...
Ahmed Zaki Yamani – a long-serving oil minister in Saudi Arabia who led the kingdom through the 1973 oil crisis and the nationalisation of its state...
Activists began reporting globs of black tar on Israel’s coast last week after a heavy storm, wreaking havoc on local wildlife. Israel closed all its Mediterranean...
© ASSOCIATED PRESS FILE – This Wednesday, Jan. 20, 2016 photo shows the Shell logo at a petrol station in London. Britain’s Supreme Court ruled Thursday, Feb....
The Federal High Court sitting in Yenagoa, on Friday adjourned a suit by Ijaw leaders seeking to halt the process leading to licensing of marginal oil...
Mr Auwal Sarki, the Director, Department of Petroleum Resource (DPR), has urged Nigerians to invest in the downstream oil and gas sector to boost the country’s...
Brent crude had gained for four straight sessions before Thursday, while West Texas Intermediate had risen for three, both reaching their highest levels since January 2020....
A federal high court in Ikoyi, Lagos, has granted an interim mareva injunction directing commercial banks to block Shell Petroleum Development Company of Nigeria Limited accounts...
By Lucas Ajanaku Brent oil price jumped further yesterday, spurred by curtailed supplies in the southern United States (U.S.) state of Texas caused by extremely...
By Lucas Ajanaku A Federal High Court in Ikoyi, Lagos has granted an interim Mareva injunction directing commercial banks to block Shell Petroleum Development Company of...
The Permian Basin, which is located in New Mexico and Texas, is the worst affected, with output down between 65 percent and 80 percent from normal...
Men of the Anti-kidnapping and Cybercrime Unit of the Edo State Police Command have arrested two notorious criminals on its most wanted list. The suspects, Samson...
Texas produces roughly 4.6 million barrels of oil a day and is home to some of the United States’ largest refineries, spread throughout the Gulf Coast....
A US official said last week that Washington had sold more than a million barrels of Iranian fuel seized under its sanctions programme last year. Iran...
Israeli environmentalists are warning that a UAE-Israeli oil pipeline deal threatens unique Red Sea coral reefs and could lead to “the next ecological disaster”. The agreement...
By Ambrose Nnaji A stakeholder in the extractive sector, Kolawole Banwo, has identified beneficial ownership, and remediation as two major areas the Federal Government has...
Iraq’s dire public services, regular power cuts and water shortages have sparked protest across the country. Source
Aryenis Torrealba and Alfredo Chirinos of PDVSA were convicted of leaking information to the US government. Venezuela has granted house arrest to two managers at state...
A former Special Adviser on Energy in the Olusegun Obasanjo administration, Prof. Anthony Adegbulugbe, and two directors in Green Energy International, on Wednesday, dragged themselves before...
A US Department of Justice spokesman said the seized Iranian oil had been sold and the proceeds would go to the US Victims of State Sponsored...
By John Ofikhenua, Abuja The Federal Government yesterday launched the Nigerian Upstream Cost Optimisation Programme (NUCOP) to cut down the cost of crude oil production to...
The Minister of State for Petroleum Resources, Timipre Sylva, has revealed plans by the Federal Government to begin oil production in the northeast. Sylva stated...
Timipre Sylva, the Minister of State for Petroleum Resources has disclosed that the Federal government will soon begin oil exploration in the northeast. This disclosure was...
The Minister of State for Petroleum Resources, Timipre Sylva, has revealed plans by the Federal Government to begin oil production in the northeast. Speaking during a...
The Chairman, Senate Committee on Oil and Gas (Upstream), Senator Bassey Akpan, speaks during the launch of the NNPC Upstream Cost Optimisation programme in Abuja on...
From Eric Ikhilae, Abuja A Federal High Court has ordered the management of Jaiz Bank Plc to freeze four accounts belonging to Aquashield Oil and Marine...
Bitcoin rises 20 percent after Tesla endorsement; Asian stocks, oil gain on US stimulus hopes and vaccine releases. Asian stocks rose on Tuesday after a record-setting...
File photo of the Minister of State for Petroleum Resources, Timipre Sylva The Minister of State for Petroleum Resources, Timipre Sylva, has revealed plans by...
Nigerian oil businessman, Tein Jack-Rich has debunked reports that he gifted actress Destiny Etiko a Prado SUV. Recall that last week, Destiny posted photos of the...
Oil prices rose to their highest levels in over a year on Monday, as output cuts and US stimulus hopes drive crude higher. Oil prices rose...
The international oil benchmark, Brent crude, extended its rebound on Monday, hitting the $60 per barrel mark for the first since the extent of the COVID-19...
Elizabeth Jack Rich, wife of oil magnate, Jack-Rich, has reacted to reports that her husband bought a new luxury car for Nollywood actress, Destiny Etiko. Recall...
Nollywood actress, Destiny Etiko has reacted after she found herself embroiled in a “sugar daddy” mess as social media users dug out her alleged relationship with...
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