An Italian judge, Giusy Barbara yesterday said oil groups Eni and Royal Dutch Shell were fully aware that their purchase of a Nigerian oilfield in 2011, would result in corrupt Continue Reading
Nigerian oil minister, Ibe Kachikwu, projects that Nigeria may increase output by about 60 percent within two years. Kachikwu (L) is shown here during a visit to Italy in January Continue Reading
Minister of State for Petroleum Resource, Dr. Ibe Kachikwu yesterday said the President Muhammadu Buhari-led government has not spent a dime on the country’s four refineries, an achievement not many Continue Reading
Despite assurances that Nigeria is working to diversify its economy away from oil, the African OPEC member continues to depend heavily on oil exports, and consequently, on oil prices, for Continue Reading
Last Friday’s resolution by the Organisation of Petroleum Exporting Countries (OPEC) to cut 800,000 barrels, or 2.5 per cent of members daily output, will see Nigeria’s daily oil production drop Continue Reading
Petroleum product Marketers and Depot Owners Associations, gave the government, a seven day ultimatum last week, to redeem their long overdue balance for over N800bn for fuel, already sold at Continue Reading
Nigerian National Petroleum Corporation (NNPC) has assured petroleum products consumers across the country not to engage in panic buying in the countdown to depot shutdown by Depot and Petroleum Products Continue Reading
The management of the Nigerian National Petroleum Corporation (NNPC) said it was compelled to award the surveillance contract of the strategic 87-kilometre Trans Forcados Pipeline (TFP) to a new contractor Continue Reading
Petrol queues at gas stations often return during industrial disputes (Guardian ) Nigerians should brace up for another period of petrol scarcity, unless a resolution arrives soon enough. And no, Continue Reading
Plans by Nigerian government to fix Nigeria’s moribund refineries and make them work in utmost capacity will not materialise until 2020, Ibe Kachikwu, Nigeria’s oil minister has said. Mr Kachikwu Continue Reading
