Crude-oil

The President, Major General Muhammadu Buhari (retd.), is to witness the first drilling of crude oil in the Kolmani River II Well on the Upper Benue Trough, Gongola Basin, in the North-Eastern part of Nigeria, on Tuesday. Officials of…

The House of Representatives ad hoc committee investigating the structure and accountability of the joint venture businesses and production-sharing contracts of the Nigerian Petroleum Corporation (NNPC) has accused oil companies of tax…

Nigeria loses at least 700,000 barrels of crude oil to thieves daily, Minister of State for Petroleum Resources, Timipre Sylva, has revealed. “Oil theft has denied the country of an estimated 700,000 barrels of crude oil per day. The…

The Socio-Economic Rights and Accountability Project (SERAP) has implored the Federal Government to commence investigations into the operations of illegal oil pipelines from 2001 to date, and to widely publish the names of anyone suspected…

Timipre Sylva, the minister of state for petroleum resources, has called on local and international oil companies to work with the federal government to tackle energy poverty in Nigeria. Mr Sylva made the call while delivering an address…

The Archbishop of the Metropolitan and Primate of the Church of Nigeria Anglican Communion, Henry Ndukuba, has urged President Muhammadu Buhari’s regime to find a lasting solution to the fuel crisis in the country, stressing that corruption…

The National Bureau of Statistics (NBS) says Nigeria’s total merchandise trade stands at N12,841.54 billion in the second quarter of 2022. This is according to the NBS Foreign Trade in Goods Statistics Report for Q2 2022 released in…

Peter Obi, the standard bearer of the Labour Party (LP) in the 2023 general election, has advocated the need to end the “criminality that is called oil subsidy” in Nigeria. Mr Obi, who spoke on Thursday at an event in Abuja, lamented…

As the price of crude oil in the International market continues to rise in recent times, Nigeria has not been able to reap appreciable economic benefits. The News Agency of Nigeria (NAN) reports that the price of crude oil, the country’s…

Nigeria’s oil production crashed by about 14.94 million barrels in the second quarter of this year, data obtained from the latest Monthly Oil Market Report of the Organisation of Petroleum Exporting Countries for June 2022 showed. An…