Oil

Lawyers for a Portuguese computer hacker said on Monday he was responsible for revealing the dealings of Angolan billionaire Isabel dos Santos, a corruption scandal with fallout across Europe and Africa.

Isabel dos Santos, 46, the daughter of Angola’s long-running leader of 38 years, was mostly seen as untouchable in Luanda.

The High Court of the Federal Capital Territory in Gwagwalada, Abuja, on Thursday ordered the remand of a former Attorney-General of the Federation and Minister of Justice, Mr. Mohammed Adoke (SAN), and two of his co-defendants in the custody of the Economic and Financial Crimes Commission over their alleged involvement in the Malabu Oil scam.

The Federal Government has filed a fresh 42-count charge against former Attorney-General of the Federation (AGF) and Minister of Justice, Mr. Mohammed Bello Adoke, and six others over alleged fraud in the $1.1 billion Malabu oil deal.

The Delta State government has placed an embargo on any form of protest by youths and folks from communities to any oil firm operating in the oil and gas-rich state.

The Federal Government on Friday inaugurated a multi-million naira laboratory in Port Harcourt to detect and analyse samples of oil spillage in the country.

The Petroleum Products Pricing Regulatory Agency (PPPRA) has said over 18 billion litres of Premium Motor Spirit (PMS) were supplied in Nigeria last year.

The Nigerian National Petroleum Corporation (NNPC) recorded a trading surplus of ₦13.23billion in October 2019.

Lekoil, the oil and gas exploration and production company with a focus on Nigeria and other West African nations has secured $184 million to finance the appraisal drilling and initial development programme activities on the Ogo field within Oil Prospecting Lease, OPL 310.

The Edo State Governor, Godwin Obaseki, has reassured that his government will continue to deliver on the mandate of building a total society that caters to the collective needs for the greatest number of people, noting that the yearnings of majority of Edo people will always supersede the avarice of a few greedy politicians in the state.

Oil multinationals operating in the Niger Delta have been called upon for the umpteenth time to relocate their headquarters to the region.

President of the Senate, Ahmad Lawan, on Wednesday assured investors who are willing and ready to invest into the Nigerian economy of adequate protection and support.

According to the statement, this request is not a new one as being perceived but rather it represents those borrowings which have been submitted to the National Assembly but are yet to be approved before the expiration of the 8th Assembly.

The Debt Management Office (DMO) says the public debt stock of the country is a cumulative figure of borrowings by successive governments over many years.

The statement said energy professionals and consultants gathered by the ministry agreed that to achieve the new targets set by President Muhammadu Buhari’s administration for the Oil and Gas sector, there is need to put a sound and stress-free acreage management policy in place.

The $60 billion inflows from the Investors’ and Exporters’ Foreign Exchange (I&E Forex) Window has contributed to the sustained stability of the naira against world currencies for the last 29 months, the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele has said.

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Malam Mele Kyari, says the Final Investment Decision (FID) for Nigerian Liquefied Natural Gas (NLNG) Train 7 would be executed in December.

Governor Bala Mohammed said that Bauchi state will witness an unprecedented boost in its commerce and tourism sector especially with the discovery of Oil in Alkaleri local government area of the state.