Crude
IPMAN surveillance team battles product thieves, adulterators in Delta
There’s palpable fear in Delta State as the Eshanekpe Israel, a.k.a Akpodoro-led Sector ‘C’ Command of the Surveillance Team of Independent Petroleum Marketers Association of Nigeria, IPMAN, Delta State battles oil thieves, product adulterators, impostors, who have allegedly established themselves in the oil-rich state.
Senate accuses NNPC of payment of N443 billion as subsidy without appropriation
The Senate Committee on Public Accounts has uncovered how the Nigerian National Petroleum Corporation (NNPC) paid N443 billion without appropriation.
House of Reps to probe ‘missing’ 5.2 million barrels of crude oil
The House of Representatives has directed its committee on petroleum to investigate the alleged missing 5.2 million barrels of crude oil allocated to local refineries under the Direct Sales Direct Purchase (DSDP).
Oil slips on fears over higher OPEC supply, slower China demand
Oil prices slipped, on Tuesday, as expectations that top producers would agree to raise oil supply in a meeting this week weighed on sentiment, already hit by concerns over slowing Chinese demand.
Nigeria’s central bank plans to strengthen Naira, economy through $15 billion Dangote refinery
The Central Bank of Nigeria, CBN, has concluded plans to strengthen the Naira, and by extension the nation’s economy through the $15 billion Dangote Refinery.
Aramco seeks one-year extension on $10 billion loan – sources
Saudi Aramco has asked banks to extend, by a year, a $10 billion loan it raised last May, two sources familiar with the matter said.
Dangote refinery to buy Nigerian crude in Naira, sell petrol in Naira
The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, said Dangote Refinery would buy Nigeria’s crude oil in Naira and also sell petrol to Nigeria in naira when it commences production.
CBN governor: Dangote refinery to sell refined crude to Nigerian government in Naira
The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, says arrangement is being made to enable the Dangote Refinery sell refined crude to Nigeria in naira when it commences production.
Court issues criminal summons against Shell, 7 others over ‘oil theft’
A judge of an Upper Area Court in Abuja, Gambo Garba, on Thursday issued a criminal summons against Shell Petroleum Development Company (SPDC) of Nigeria and seven of its top executives over alleged stealing of 16 million barrels of crude oil through the use of a fraudulent and unapproved metering system.
Nigerian government celebrates rising price of crude oil in the global market
The federal government has described as a welcome development, the rising price of crude oil in the global market, saying, “this is a good omen for Nigeria”.
Senator Lawan: National Assembly will approve extra-budgetary funds to fight insecurity
The leadership of the National Assembly on Monday gave an assurance that it will approve extra-budgetary request of the Executive for the security agencies to wage a total war on the rising level of insecurity in the country.
Shell says allegations of involvement in ‘oil theft’ misleading
The Shell Petroleum Development Company of Nigeria (SPDC) says allegations of involvement in oil theft at its Bonny Crude Export Terminal is misleading.
DPR urges businessmen invest in oil and gas, instead of indulging in illegal refineries
The Department of Petroleum Resources (DPR) has called on businessmen to invest in the oil and gas industry, instead of indulging in illegal refineries.
Reports: U.S. oil output down record 1/3 as cold wave hits Texas
Total U.S. oil output has contracted by a record one-third, or 3.5 million barrels per day and more, as anomalous low temperatures caused disruptions to well operations in Texas, the country’s largest oil-producing region, according to a watchdog.
Red Sea coral reefs ‘under threat’ from Israel-UAE oil deal
The agreement to bring Emirati crude oil by tanker to a pipeline in the Red Sea port of Eilat was signed after the two nations normalised ties late last year and should come into force within months.
IMF: Dangote Refinery has potential of bailing Nigeria from economic downturn
The International Monetary Fund, the global financial watchdog, is projecting that Nigeria’s Dangote Refinery would provide an elixir for the country’s economy when it is completed and starts production by 2022.
Minister: Why another hike in price of petrol is inevitable
The Minister of State for Petroleum Resources, Mr. Timipre Sylva, has asked Nigerians to ready to endure the pain of another hike in the price of premium motor spirit, popularly called petrol, even as the country is also set to benefit from the rise in price of crude oil in the international market.
NNPC declares N13.43 billion trading surplus for November 2020
The Nigerian National Petroleum Corporation, NNPC, has declared a trading surplus of N13.43billion for November 2020, 54 per cent more than the N8.71billion recorded in October 2020.
Saudi Arabia raises oil prices to U.S. and Europe
The world’s top oil exporter, Saudi Arabia, raised on Thursday the prices of all its crude oil that will go to the United States and Europe in March while leaving unchanged the official selling prices of its crude to its key market in Asia.
DPR: It’s practically impossible to steal crude oil offshore
The Department of Petroleum Resources (DPR), yesterday, disclosed that majority of the crude oil theft recorded in the country’s petroleum industry occur in the inland terminals, noting that it is practically impossible to steal crude oil from the offshore terminals.
ACJHR condems detention of Ugandan opposition leader Bobi Wine
The human rights group, in a statement, Sunday, in Abuja, by its Executive Director, Chinwendu Nduka Edede, said it was “alarmed by the report of the continued detention of Ugandan opposition leader, Bobi Wine, by the nation’s military and police despite a High Court order declaring his house arrest as illegal.”
Fishermen hail Dutch court ruling, ask Shell to pay $3.6 billion Bonga oil spill...
Following Friday’s ruling by a Dutch court that found Shell liable of polluting the farmlands of four farmers in the Niger Delta region, Artisanal Fishermen Association of Nigeria (ARFAN) has advised the oil firm to promptly comply with the judgement and compensate the farmers.
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Pep Guardiola said his disappointment at Manchester City’s draw with struggling West Bromwich Albion led to a return to “ABC” principles that sparked the club’s record winning streak.
ActionAid, ASCAB raise concerns over worsening insecurity
Some civil society groups have raised concerns about spike in criminal activities ranging from armed banditry, abductions and killings, especially in the northern and central parts of the country.
FIRS targets N5.9 trillion tax, other revenue collection for 2021
Its Chairman, Muhammad Nami, announced the anticipation in Abuja on Thursday while defending the Service’s 2021 budget before the House of Representatives Committee on Finance.
Delta CP: Two ‘kidnappers’ die after exchange of gunfire with police
The Delta State Commissioner of Police, CP Ari Muhammed Ali, has disclosed that kidnap suspects who sustained fatal injuries during an exchange of gunfire with a team of Rapid Response Squad, RRS Operatives in Asaba have died.
Nigerian national sentenced to death for drug trafficking in Vietnam
A 45-year-old Nigerian has been sentenced to death for trafficking nearly four kilograms of methamphetamine from Cambodia to Vietnam
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House of Reps decries growing number of abandoned projects nationwide
House of Representatives on Wednesday said that the number of abandoned projects in the country was becoming alarming, saying it was inimical to growth and development.
APC weighs in on Edo governor’s delay in appointing commissioners
The All Progressives Congress (APC) in Edo State on Wednesday decried the delay by Governor Godwin Obaseki to constitute the state executive council more than three months after he was inaugurated for a second term in office.
Zamfara governor shuts all boarding schools
“I appeal to the people of the state to remain calm and resist the evil machinations of those who would want to exploit the current situation to achieve political ends. Insha Allah, with our collective resolve, we would emerge out of this situation stronger,” he said.
‘Bandit’ caught with three AK-47 rifles in Niger
An arm-bearing young man suspected to be an armed bandit was on Wednesday caught at Patigi Ferry Port in Niger State based on suspicious behaviour.
House of Reps committee to investigate foreign affairs ministry, calls for public support
The House of Representatives, has called for evidence from the public, to enable it carry out an extensive investigation into alleged malpractices in the Ministry of Foreign Affairs.