Justice Abdulazeez Anka of the Federal High Court in Lagos, yesterday, ordered the permanent forfeiture of the sum of N7,646,700 billion linked to former minister of Petroleum Resources, Mrs. Deziani Alison Madueke to the federal government. Justice Anka gave the order after hearing an application filed and argued by the counsel to the Economic and Financial Crimes Commission (EFCC), Rotimi … Read More

The Nigerian National Petroleum Corporation, NNPC, has announced that there are massive fraudulent activities in the sales of crude in the oil and gas sector. The corporation further cautioned unsuspecting would-be crude oil buyers to watch out for the activities of local and international fraudsters in the oil and gas sector. The NNPC’s Group General Manager, Crude Oil Marketing Division … Read More

The plan by the Nigerian National Petroleum Corporation (NNPC) to build a crude oil pipeline from the Kaduna refinery to Niger Republic may have hit the rocks, as investors have shunned the project because it is commercially unviable, THISDAY has learnt. As part of efforts to address frequent disruptions to the supply of crude oil to the Kaduna refinery, arising … Read More

ABUJA—WORRIED over the alleged $1billion spent so far for an itch in the construction of Obite- Ubeta- Rumugi 42.5 kilometre 42″ Gas Pipeline Project(OUR) in Rivers State, the Senate has begun a holistic investigation of Total E&P Nigeria Limited, TEPNG. Consequently, the Senate has summoned the Managing Director, Total E&P Nigeria Limited, to appear before it. Describing the amount as … Read More

The Minister of Science and Technology, Ogbonnaya Onu, wants Nigeria to begin preparing for the post crude oil era by paying adequate attention to science, technology and innovation, as Europe and the industrialised world are shifting attention from fossil fuel. Onu, who spoke at the first science and technology innovation sensitisation forum and open house in Abuja yesterday, said that … Read More

The Nigeria’s oil and gas industry would require $10 billion (N3.05 trillion) over the next three years to increase crude oil production from 2.2 million barrels per day (bpd) to 3 million bpd. The Minister of State for Petroleum Resources, Ibe Kachikwu, who made this disclosure in the current Organisation of the Petroleum Exporting Countries (OPEC) Bulletin, said investment is … Read More

International Oil Companies (IOCs) and their indigenous counterparts operating in Nigeria posted cumulated earnings of over $17.125 billion in the first half (H1) of 2017. This is therefore a significant reversal compared with the losses experienced by these companies as a result of low crude oil prices, which reduced their earnings by over 80 per cent a year ago. For … Read More

• NNPC to extend West African gas pipeline to Côte d’Ivoire The Federal Government has commenced consultations with stakeholders in the oil and gas sector, aimed at re-activating Shell Nigeria Exploration and Production Company Limited (SNEPCO), the Bonga oilfield. At the bi- annual stakeholders engagement meeting in Abuja, Minister of State for Environment, Ibrahim Jibril, said the oilfield is very important … Read More

The Managing Director/Chief Executive Officer Total upstream companies in Nigeria, Mr Nicolas Terraz, on Wednesday said that the firm would boost the country’s daily oil production by 200,000 barrels from 2018. Terraz, who was represented by Mr Biodun Afolabi, Executive Director, Corporate Affairs and Services, said that the additional barrels would come from the company’s multi-billion dollar Egina Field Development. … Read More

The Minister of State for Petroleum Resources, Ibe Kachikwu, on Monday said Nigeria may force oil companies  to lower production costs if negotiations fail. According to Mr. Kachikwu, countries like the United Arab Emirates had cut costs significantly, saying they are the lowest-cost producers in the world. The minister said this at the opening ceremony of the Nigeria Annual International … Read More