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Theft hurts Nigeria´s oil output but crackdown intensifies

ABUJA, Nigeria (AP) - Nigeria is losing 470,000 barrels of crude oil per day to theft and pipeline vandalism, regulators say, and has now...

NNPC kicks over invitation by Senate

The Senate on Wednesday clashed with Nigerian National Petroleum Corporation Limited over legal basis of not honouring invitation by its relevant committees. The NNPC in...

Nigeria Drops to Africa’s 4th Largest Oil Producer, OPEC Reports

Abuja, Nigeria —  Nigeria is facing a record reduction in oil production, oil cartel OPEC reports, dropping from the first largest producer in Africa to...

Nigerian govt recovered N2.6trn revenue from oil company – NEITI

The Federal Government has recovered a total of N2.6trillion revenue from oil firms following the Nigeria Extractive Industries Transparency Initiative, NEITI, National Assembly intervention. NEITI...

Oando Plc faces delisting, suffers huge losses in 2020

Huge losses have forced Nigerian multinational oil company, Oando Plc, on the verge of voluntary delisting on the Nigerian Exchange Group (NGX).The company has...

Nigeria lost N500.6bn crude oil in five months – Investigation

— as production slumps by 11.63 million barrels Revenues accruable to Nigeria from the sale of crude oil crashed by about N500.6bn between January and...

Reps probe petroleum subsidy under Buhari, allege $7bn diversion

The House of Representatives has moved to investigate the petroleum products subsidy from 2017 to 2021 under the regime led by President Muhammadu Buhari. The...

Why Diesel, Cooking Gas Are Costly, By NNPC Boss

Group Managing Director of Nigerian National Petroleum Company (NNPC) Ltd, Mele Kyari, on Tuesday told lawmakers that the only way to tackle the rising...

UTM Offshore, Afreximbank sign $11.4bn financing deal

African Export-Import Bank has signed a financing deal with UTM Offshore Limited This deal was signed at its 29th Annual Meetings in Cairo, Egypt recently....

Nigeria: Govt Hands Over 57 Oil Fields to Matrix, Ardova, Others

Fifty-seven oil fields located onshore and swamps of the Niger Delta were yesterday handed over to local oil companies by the Federal Government, with...

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