Vandalism in N/Delta forces NNPC to post N34bn loss in Q1, only PH refinery made profit
Added to losses recorded in gas production and supplies within the period, latest report on the financial performance of the Nigerian National Petroleum Corporation (NNPC) in first quarter was in red with a total loss in third consecutive monthly income…
Confusion as NLNG refute NEITI report, says no outstanding dividend to FG
Contrary to the earlier intelligence of the Nigerian Extractive Industries Transparency Initiative (NEITI) to the House of Representatives to probe the alleged loss of 15.9 billion dollars dividend accruing to the Federal Government from the Nigeria LNG Limited (NLNG), the…
Nigeria loses 27.3mb in Feb valued at N417 billion to production disruption
A new report released by the Minister of State for Petroleum, Dr. Ibe Kachukwu has shown that the industry lost an accumulated 27.3 million barrels in the month of February to production disruptions arising from pipeline vandalism. Calculations based on…
More confusion trial FG’s claims on progress of work on $1 billion Ogoni cleanup
The Nigerian Senate has joined the league of bodies trailing recent discovery that work may not have started on the publicized resumption of cleanup activities at polluted sites in Ogoniland, Rivers State. Speaking at plenary, the Senate mandated its committee…
Sponsored Post: WED 2017: How Chevron is connecting people to nature in Nigeria
Today, June 5, is World Environment Day (WED). Its the biggest event to celebrate and promote environmental awareness and sustainability across the globe. Established by the United Nations (UN) General Assembly in 1972, WED aims to raise global awareness and…
FG’s policy inconsistency may kill modular refinery initiative in N/Delta
More details are still emerging on the reason why hostilities may reverberate in the currently stable oil rich Niger Delta as it is becoming clear that President Muhammadu Buhari may have been misled on award of OML to NPDC rather…
Boost for foreign reserve as Indonesia, more countries place order for Nigerian crude
Chances of early exit from recession are getting brighter following news or more orders for Nigerian crude oil by new markets including Indonesia and others from Asian tigers. This week, Indonesian Ambassador to Nigeria, Mr Harry Purwanto, indicated his country’s…
Why Senate halted surreptitious sale of Port Harcourt Refinery to ENI by Minister
More revelations have emerged barely 24 hours after the Nigerian Senate halted unilateral moves by the Federal Ministry of Petroleum Resources and the Nigerian National Petroleum Corporation (NNPC) to concession the Port Harcourt Refinery to AGIP and OANDO. One of…
Onovo picks holes in passed PIGB, says it’ll be very expensive to implement
Whereas many Nigerians have welcomed the very first segment of the Petroleum Industry Bill (PIB) which is called the Petroleum Industry Governance Bill (PIGB) being passed by the 8th Senate, Thursday last week, critical industry experts have started picking holes…
Hostilities imminent in N/Delta following cancelation of oil blocs awarded to indigenes
Anger and rising tension can be said to be the scenario playing out in the hitherto peaceful Niger Delta following the sudden discovery that the Federal Government canceled Oil Prospecting Licences of OPL 2001, 2002 and 2003. This is coming…
