Monthly Archives: June 2018

How Govt Loses Crude Earnings to IOCs Metering

The Federal Government’s reliance on the International Oil Companies (IOCs) to determine the quantity of oil production is negatively affecting the country’s crude earnings.   The Guardian had reported that the petroleum industry earned $276.642 billion (N84.6 trillion) in the last five years, and only N8.41 trillion of the sum was spent on budget from […]

Malabu Oil Deal – Court Grants Heda Judicial Review Against AG

A Federal High Court in Lagos has granted the request of a non-governmental organisation, Human and Environment Development Agenda (HEDA) Resource Centre, for a leave for a mandamus for a judicial review against the Attorney General of the Federation (AGF), Mr. Abubakar Malami in the case of the Malabu Oil and Gas deal.   HEDA […]

Irish Ambassador Attributes High Oil Output to Stability in Niger Delta

  The Irish Ambassador to Nigeria, Sean Hoy, has commended the Bayelsa State Government for its efforts at sustaining peace, and attributed the high oil production level in Nigeria to the current stability in the Niger Delta.   Speaking while receiving Hoy in Government House, Yenagoa, yesterday, the state Deputy Governor, Rear Admiral Gboribiogha John […]

PIGB: PENGASSAN Commends N’Assembly

  The President, Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Francis Johnson has commended members of the National Assembly for their commitment to the passage of the Petroleum Industry Governance Bill (PIGB). Johnson also urged the lawmakers to expedite action on the remaining parts of the PIGB for executive assent.   Johnson […]

Oil, Gas Suppliers to End Illegal Bunkering, Fuel Crisis

  Petroleum products marketers, under the aegis of Natural Oil And Gas Suppliers Association of Nigeria, NOGASA, has announced plans to partner with the Federal Government to end unnecessary fuel crisis, illegal oil bunkering and products adulteration in the country.       Speaking after its Board of Trustees Meeting in Abuja, Deputy Chairman of […]

Oil Prices Fall As Opec Raises Production Target From July

Crude oil prices fell yesterday after the decision by the Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC members to raise crude supplies to about one million barrels by starting from July 1.   The move was aimed at compensating producers for production loss at a time of rising global consumption.   What this […]

‘Journalist’ Abiri arrested for oil pipeline vandalism, says Presidency

  Mr. Jones Abiri, the man said to have been arrested by the Department of State Services (DSS), is not a journalist and does not belong to any chapel of the Nigerian Union of Journalist (NUJ), the Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, clarified Thursday night.   Shehu […]

Oil Theft, Nigeria’s Familiar Foe, Back in the Saddle

  Chineme Okafor reports that large-scale theft of crude oil from Nigeria’s heavily militarised Niger Delta waters has resurfaced, leading to recent communities’ protests and blame games by stakeholders   Nigeria is perhaps the only country in the Organisation of Petroleum Exporting Countries (OPEC) notorious for large-scale theft of oil from its oil-bearing Niger Delta […]

OPEC: Nigeria will not support additional oil supply – Kachikwu

  The Minister of State for Petroleum Resources, Ibe Kachikwu, said Nigeria would advise against additional oil supply to the global market by OPEC and non-OPEC members. Mr Kachikwu made the country’s position known in an interview with journalists on Thursday ahead of the 174th Meetings of the OPEC Conference and the OPEC and non-OPEC […]