INTEL’S VOLPI STEPS UP BATTLE AGAINST WALE TINUBU OVER CONTROL OF OANDO

One of the founders and majority shareholder of Intels Nigeria Limited, operator of the oil and gas logistics terminals in Onne, Rivers State and...

FG APPROVES $5.792 BN TO COMPLETE MAMBILLA ELECTRICITY PROJECT

The Federal government Wednesday approved 5.792 billion dollars (N1.140trillion) for the construction of the 3,050 megawatts Mambilla Hydro-Power project at Gembu, Taraba State. The approval...

KACHIKWU UNVEILS PLANS TO REDUCE EFFECT OF DROP IN CRUDE OIL PRICE

Ibe Kachikwu, the Minister of State for Petroleum Resources has allayed fears that the marginal fall in the prices of crude oil would impact...

NIGERIA ON RECOVERY PATH AS CURRENT ACCOUNT BALANCE HITS N823BN

Nigeria recorded a positive current account balance of $2.72 (N823 billion) million in 2016, showing a sign of recovering from a deficit of $15.43...

NIGERIAN ARMY DESTROYS 13 ILLEGAL OIL REFINERIES IN NIGER-DELTA

Nigerian army said on Thursday that it had destroyed 13 illegal refineries in the restive Niger Delta oil rich region, in an operation in...

SAVANNAH PETROLEUM CONTINUES WITH PLANS TO TAKEOVER SEVEN ENERGY

The oiler is preparing to start a drill programme in Niger, meanwhile, it continues to work on the proposed deal for Seven Energy assets...

SCARCITY OF FUEL IMMINENT AS OIL WORKERS BEGINS STRIKE

Fuel crisis looms as the Nigerian Union of Petroleum and Natural Gas workers (NUPENG) on Monday stopped loading at the various depots in Lagos. Meanwhile,...

OPEC OIL PRODUCTION OUTPUT DIPS IN AUGUST TO 170,000 BPD

Oil production output from the Organization of Petroleum Exporting Countries (OPEC) fell in August by 170,000 barrels per day (bpd), a Reuters survey said....

HOSTCOM SAYS FG HAS FULL KNOWLEDGE OF CABALS STEALING NIGERIA’S CRUDE OIL

Mike Enuh, National Chairman, Host Communities of Nigeria Producing oil Gas, HOSTCOM Wednesday disclosed that the Federal Government has full knowledge of cabals...

OIL JUMPS TO FIVE-MONTH HIGH ON FORECASTS THAT GLUT WILL RECEDE

Oil prices rose on Thursday, with Brent briefly touching a five-month high, a day after the International Energy Agency (IEA) forecast the market would...