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Oil Majors

DPR awards marginal oilfields to 50% of shortlisted firms

Nigeria has awarded the rights to develop marginal oilfields to 50% of the 161 firms shortlisted after they met all the conditions, the petroleum regulator said on Tuesday.
New revelations have emerged that JPMorgan Chase & Co was warned by its compliance team over the “great risk” of corruption just days before it made the last of three transfers that totaled $875 million to a former Nigerian oil minister, Dan Etete.

JPMorgan memo warned $875m payment to Dan Etete was graft risk

New revelations have emerged that JPMorgan Chase & Co was warned by its compliance team over the “great risk” of corruption just days before it made the last of three transfers that totaled $875 million to a former Nigerian oil minister, Dan Etete.

Bayelsa assemblyman sues for peace as community, Shell bicker over agreement

Lawmaker representing Yenagoa Constituency 3 in the Bayelsa State House of Assembly, Hon. Teddy Elemefuro, has sued for peace between the Shell Petroleum Development Company (SPDC) and other oil companies and the youth of his constituency over feuds resulting from alleged non-implementation of GMoU in oil host communities of the area.
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that more private and public sector collaboration will be encouraged as Nigeria steps up effort to realise its target of boosting domestic gas utilisation.

President Buhari, Timi Sylva, Sanusi Barkindo tip gas as economic growth driver

President Muhammadu Buhari; Minister of State, Petroleum Resources, Chief Timipre Sylva; and the Secretary-General, Organisation of Petroleum Exporting Countries (OPEC), Dr. Sanusi Barkindo, yesterday underscored the need to drive the country’s economic development by tapping Nigeria’s enormous gas resources.

Convoy of fleeing civilians ambushed in besieged Mozambique town

Suspected Islamist insurgents attacked a convoy of fleeing civilians, including foreign workers, as fighting continued on Friday in a northern Mozambique town that is near a number of gas projects, security and diplomatic sources said.
The Federal Government has provisionally awarded tenders to develop 57 of its marginal oilfields, which could net about $500 million in signature bonuses.

Nigerian government approves provisional award tenders for 57 marginal oilfields

The Federal Government has provisionally awarded tenders to develop 57 of its marginal oilfields, which could net about $500 million in signature bonuses.
London’s FTSE dropped 2.1% even as the pound sank.

UK, EU stock markets take hit from new coronavirus strain

Major UK and EU stocks plummeted on Monday to a nearly three-week low amid the new lockdown measures, prompted by the spread of the new mutated COVID-19.

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Manchester United have identified Alexander Isak as an alternative target to Borussia Dortmund striker Erling Haaland this summer, The Star reports.

Manchester United identify Alexander Isak as Erling Braut Haaland alternative

Manchester United have identified Alexander Isak as an alternative target to Borussia Dortmund striker Erling Haaland this summer, The Star reports.
The naira this morning reversed its two weeks loss to the dollar in the parallel market, appreciating by N20 to N470 per dollar.

Naira appreciates at N493 to dollar in parallel market

The naira, on Thursday, appreciated by 1.8 percent to N493 to a dollar at the parallel market as the Central Bank of Nigeria (CBN) increased forex supplies to banks.
U.S. President Joe Biden gestures while speaking to the media before boarding Air Force One at Geneva airport, as he leaves Geneva after the U.S.-Russia summit, Switzerland, June 16, 2021. REUTERS-Kevin Lamarque

White House considering talks between Joe Biden and China’s Xi Jinping

The White House will consider arranging talks between President Joe Biden and his Chinese counterpart, Xi Jinping, as the two countries spar over issues including human rights, a top U.S. official said on Thursday.
President Muhammadu Buhari Thursday in Maiduguri, Borno State, assured citizens of the federal government’s presence in fighting terrorism to the end, and ensuring that Internally Displaced Persons (IDPs) are fully returned to continue normal lives, commending Governor Babagana Zulum for resilience and relentless efforts in rebuilding the state.

President Buhar: We won’t rest until peace is fully restored in Borno

President Muhammadu Buhari Thursday in Maiduguri, Borno State, assured citizens of the federal government’s presence in fighting terrorism to the end, and ensuring that Internally Displaced Persons (IDPs) are fully returned to continue normal lives, commending Governor Babagana Zulum for resilience and relentless efforts in rebuilding the state.
Lagos State Attorney General, Moyo Onigbanjo (SAN)

Lagos begins plea bargain session for Kirikiri inmates

In an effort to decongest correctional centres, the Lagos State Ministry of Justice on Thursday held a plea bargain session for some inmates at...

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Peter Schmeichel has slammed UEFA for the "ridiculous decision" to restart Denmark's Euro 2020 clash with Finland after Christian Eriksen's on-field collapse.

Danish FA: Christian Eriksen ‘stable’ in hospital

Christian Eriksen is talking and remains “stable” in hospital, the Danish football federation on Sunday confirmed.
Jada Pinkett Smith is celebrating the legacy of rap icon Tupac Shakur on what would have been his 50th birthday with one of his poems she says “you may have never heard before.”

Jada Pinkett shares never-before-seen poem written by Tupac

Jada Pinkett Smith is celebrating the legacy of rap icon Tupac Shakur on what would have been his 50th birthday with one of his poems she says “you may have never heard before.”
Roma must make a fourth offer for Granit Xhaka if they’re to prise the midfielder away from Arsenal.

Roma to make fourth offer to prise Granit Xhaka away from Arsenal

Roma must make a fourth offer for Granit Xhaka if they’re to prise the midfielder away from Arsenal.
A supporter holds a poster of former Ivorian president Laurent Gbagbo during the preparation of his return after being acquitted by the International Criminal Court on charges of war crimes, at his party's headquarters in Abidjan, Ivory Coast June 16, 2021. The poster reads "With your return, the Ivorians are hoping for a real reconciliation". REUTERS/Luc Gnago

Ivory Coast: Police fire teargas as crowds mass to welcome back ousted president Laurent...

Police fired teargas to disperse hundreds of supporters of Ivory Coast’s ousted president Laurent Gbagbo as crowds massed to welcome him home on Thursday from 10 years of exile.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

CBN denies plan to nationalise Unity Bank

The report had claimed that the apex bank’s target examination of Unity Bank showed that the tier 2 lender is in ”grave financial condition”, with a capital adequacy ratio (CAR) and non-performing loans (NPL) ratio that breached prudential standards.