Oil and Gas

Nigeria may continue to lose an estimated N995.2 billion yearly to crude oil theft except the Federal Government adopts efficient technology in metering and mapping movement of crude from extraction to exportation. The Federal Government should also enforce stringent penalties ...

President Muhammadu Buhari has revoked four oil mining and one prospecting licences. The Department of Petroleum Resources (DPR), which communicated the decision in a statement, said the revocation came on the backdrop of alleged non-compliance with statutory regulatory obligations. The ...

Following the degrading situation in some areas of Owerri, Imo State Governor Emeka Ihedioha has directed the suspension of all dredging activities within the metropolis. The governor has also ordered immediate re-opening of Douglas Road, which was closed by immediate ...

The Federal Government is reportedly losing over $700 billion to the Belema flow station shut down two years ago in Akuku-Toru Local Council of Rivers State. The facility, operated by Shell Petroleum Development Company (SPDC), was closed in August 2107 ...

Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, yesterday approved reorganisation of the corporation’s top management, in which over 50 senior personnel were either redeployed or replaced. Apart from removing Managing Director of the ...

Nigerians living far from petroleum depots or in mountainous and riverine communities may be burdened with high price of petroleum products, especially Premium Motor Spirit (PMS) otherwise called petrol if President Muhammadu Buhari signs into law the current version of ...

The Policy Alert and Publish What You Pay (PWYP) Nigeria has launched #WetinWeGain campaign to enhance adequate disclosures of oil, gas and mining transactions in the country. The campaign would also empower the people of host communities with adequate and ...

Economists have revealed ways to boost the non-oil revenue in the country. Nigerian Economic Summit Group (NESG)’s Fiscal Policy Roundtable through its Citizens Perception Report, yesterday, urged government to establish an Office of Tax Simplification (OTS), among other recommendations, to ...

Justice Ahmed Mohammed of the Federal High Court, Abuja has ordered former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu, to open his defence on July 3, 2019 in the $9.8 million alleged fraud suit brought ...

Rivers State Governor Nyesom Wike, has alleged that General Officer Commanding (GOC), 6 Division of the Nigerian Army, Major General Jamil Sarhem, has been running an oil bunkering squad to finance his ambition to be appointed Chief of Army Staff. ...