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Court awards N100,000 cost against Chevron in illegal oil shipment suit by federal govt

A Federal High Court in Lagos thursday awarded N100,000 cost against Chevron Nigeria Limited in a $12 billion missing crude oil revenue suit filed by the federal government.

Bumper profits for Total, ExxonMobil, Shell, Chevron

Royal Dutch Shell and other world’s leading oil companies have published a bumper crop in profits last year as rising crude prices helped turn their fortunes around.

ExxonMobil profits jump on tax gain

ExxonMobil reported a nearly five-fold increase in quarterly earnings Friday due to the impact of the US tax reform, but the company’s share price fell sharply due to disappointing operational results.

Niger Delta militants vow resumption of attack on oil facilities

A coalition of Niger Delta agitators has threatened to resume destruction of oil installations and other Federal Government facilities in the region.

Removal of Lekki roundabouts saves motorists, commuters N87 billion

The removal of six roundabouts along the Lekki-Epe Expressway has saved residents and motorists in that axis about N87billion yearly, a report of the Junction Improvement Works carried out by a construction giant, Planet Projects Limited, has revealed.

Federal govt moves to amend deep offshore act

The Deep Offshore and Inland Basins PSC Act was enacted in 1993 to provide the fiscal framework for foreign investments in deep offshore and inland basin acreages in the oil and gas sector.

Bayelsa govt declare N1.864 billion IGR for October

The Bayelsa State Government has declared over N1.864billion as Internal Generated Revenue (IGR) for the month of October 2017 compared to previous months of of Bayelsa State about 700 and 800 million naira.

NNPC seeks buyers who can pay $5 billion advance for crude oil

The Nigerian National Petroleum Corporation (NNPC) is seeking buyers who will pay $3.5 to $5 billion and get its value in crude oil between five and seven years.

OPEC to debate capping Nigerian, Libyan oil output – sources

OPEC will debate this week whether to cap oil output from Nigeria and Libya, which have so far been excluded from supply curbs due to falling production amid unrest, two sources with knowledge of the matter said on Wednesday.

Ayiri Emami’s emergence as Ologbotsere should not divide Itsekiri nation – Olu of Warri

The Olu of Warri, His Majesty, Ogiame Ikenwoli, has said the emergence of Chief Ayirimi Emami as the Ologbotsere of Warri, should unite and not divide the Itsekiri nation under his reign.

Court to resume hearing of federal govt’s $406.8 m suit against three oil companies

A Federal High Court in Lagos will on Jan. 23, 2018, resume hearing of a $406.8 million suit instituted by the Federal Government against Shell Western Supply & Trading Ltd, over crude oil shipment.

NNPC, Chevron sign $1.7bn deal for 39,000bpd

The Nigerian National Petroleum Corporation, NNPC, and Chevron Nigeria Limited, CNL, have executed the second and final phase of an Alternative Financing Agreement meant to increase crude oil production in the country by about 39,000 barrels per day.

Militants announce resumption of hostility in Niger Delta

Three militant groups operating in Akwa Ibom and Cross River States, the Niger Delta Volunteers (NDV), Niger Delta Peoples Volunteer Force, Niger Delta Strike Force have announced resumption of attack on all the oil and gas installations in the two states.

Federal govt to probe disbursement of revenue to oil communities – AGF Abubakar Malami

The Attorney General of the Federation, Mr. Abubakar Malami, has assured the oil producing communities of Niger Delta that the ministry would soon commence thorough investigation into the alleged misapplication funds accrued to oil producing communities in the Niger Delta region.

Angola president dismisses Sonangol chair Isabel dos Santos

Angolan President Joao Lourenco dismissed Isabel dos Santos as chair of the state oil company Sonangol on Wednesday in a dramatic move against the family of the former president.

House of Reps faults Chevrons $15, 000 gas flaring claims for 2016

An ad hoc committee on the House of Representatives investigating revenue leakages in the oil and gas sector from January 2016 to January 2017, yesterday disputed claims by Chevron Nigeria that it flared only $15,000 worth of gas in its oil fields in 2016.

Minister Isaac Adewole elated as Chevron tackles HIV scourge in Nigeria with $5 million

Minister of Health, Prof Isaac Adewole, has expressed gratitude to Chevron Nigeria Limited (CNL) for donating a total of US$5 million to Global Fund to tackle HIV, tuberculosis and malaria for the implementation of the Chevron-Global Fund Anti-Retroviral Treatment Service Maintenance Program (ART Program) in Delta, Bayelsa, Ondo and Lagos States.

How DPR, central bank diverted $950m oil royalty – House of Reps

An ad hoc committee of the House of Representatives on Sunday accused the Department of Petroleum Resources and the Central Bank of Nigeria of keeping $950m in a secret domiciliary account from 2011 and 2014 as against remitting the money into the Federation Account.


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Donald Trump suspends metal tariffs for key US trade partners

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#BBNaija: Tobi and Rico Swavey emerge winners of Nokia challenge

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WAEC bans private school teachers from supervising examinations

The West African Examination Council (WAEC) has banned teachers from private schools from supervising its examinations.

Sudan’s Omar Al-Bashir backs Egypt’s Abdel Fattah Al-Sisi election bid

President Omar Al-Bashir of Sudan on Monday welcomed his Egyptian counterpart’s bid for re-election and pledged further cooperation after a year of rocky relations between the neighboring countries.

Expelled Russian diplomats leave UK

Russian diplomats recently expelled from the UK over the case of former Russian spy Sergei Skripal and their families left the Russian embassy in London on Tuesday and are heading to the airport in more than 10 cars, a Sputnik correspondent reported.