Daily Archives: January 18, 2018

Rep summons Ibe Ikachukwu and Baru over subsidy payment

  The House of Representatives, on Wednesday, summoned Minister of State for Petroleum, Emmanuel Ibe Kachikwu, and the Managing Director, Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, over the payment of subsidy on Premium Motor Spirit (PMS) with approval from the National Assembly. The duo are expected to appear before the House committees on Finance […]

Oil prices rise on threat to Nigeria’s oil infrastructure

  Oil prices rose on Thursday on a reported decline in US crude inventories, and as rebels in Nigeria threatened to attack the country’s petroleum infrastructure.   However, prices stayed below recent three-year highs as fuel supplies remain ample and as refineries scaled back operations.   Brent crude futures were at $69.56 at 2.55am GMT, […]

Senate Rejects Panel Report On Fuel Crisis, Probes Subsidy Payment

Allegations of unending corrupt practices in the oil industry as well as persisting scarcity of petrol across the country generated serious agitations and outpour of criticisms against the management of the oil industry on the floor of the Senate yesterday. And for failing to meet its expectations, the upper chamber rejected the report submitted by […]

Falling US crude stocks, threats to Nigerian fuel infrastructure push oil up

Oil prices rose on Thursday on a reported decline in US crude inventories, and as rebels in Nigeria threatened to attack the country’s petroleum infrastructure.   However, prices stayed below recent three-year highs as fuel supplies remain ample and as refineries scaled back operations.   Brent crude futures were at $69.56 at 2.55am GMT, up […]

Niger Delta Avengers Say They Will Launch Attacks On Oil Facilities

A Niger Delta militant group has said it would begin another round of violent campaigns against oil companies in Nigeria in a few days’ time.   “This round of attacks will be the most deadly and will be targeting the deep sea operations of the multinationals which include Bonga Platform, Agbami, EA Field, Britania-U Field, […]

Kachikwu, Baru, Peterside seek improvement in Nigeria’s oil export

  Stakeholders in the oil and gas as well as the maritime industry, converged in Abuja, sought leeway to export Nigerian crude oil in order to attract maximum benefits.   The meeting led by the Ministry of Petroleum Resources, and the Nigerian Maritime Administration and Safety Agency (NIMASA), is expected to fast track the country’s […]