Oil

The total debts of 10 oil-producing states rose from N2.04tn in December 2015 to N3.35tn as of June 2022, according to sub-national debt reports of the Debt Management Office. This means that a total of N1.31tn was borrowed within a…

The House of Representatives ad hoc committee on Joint Venture (JV) on Wednesday quizzed the Nigerian Agip Oil Company Ltd over alleged tax evasion. Abubakar Fulata, the chairman of the ad hoc committee investigating the structure and…

The Central Bank of Nigeria says that non-oil exporters repatriated the sum of $4.99 billion into Nigeria in 2022. The Governor of the CBN, Mr Godwin Emefiele, disclosed this while delivering a keynote address at the second edition of…

The Oil Marketers Association of Nigeria has urged the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian Ports Authority (NPA) to obey President Muhammadu Buhari regime’s directive on naira transactions for port…

The annual financial statement of the National Petroleum Investment Services, a subsidiary of the Nigerian National Petroleum Commission, has revealed that the department spent a whooping N90 billion on public relations in 2021. 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…

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…

Oil marketers have yet to receive a response from the Federal Government as regards the outstanding payment of bridging claims incurred by dealers for the transportation of petroleum products across the country and might go ahead with their…

Nigeria must find a way to block oil theft which is now at $10 million per day, says Mike Sangster, the Managing Director, TotalEnergies EP Nigeria Ltd. “You can see some of the figures in the press! I mean, maybe it’s up to 100,000…

Global oil alliance OPEC+ on Thursday said it would increase daily output by 648,000 barrels in August. The increment is deemed inadequate to counter rising oil prices but it means OPEC+ is sticking to a plan of moderate increase despite…