News

OVH Energy Marketing Ltd. has retrenched about 100 of its workforce in order to overcome the problem of salaries payment due to the ongoing challenges in the downstream oil sector. A top official of the company, who pleaded anonymity,…
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Airline operators are considering increasing air fare to accommodate recent JetA1 price hike and scarcity across the country. Aviation fuel commonly called Jet A1, and an industry source said the pump price of the product had gone up…
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•Occupy the expanse of land Angered by the mindless destruction of the ecosystem and huge loss to the oil-economy of the country, Nigerian soldiers have taken over an expanse of land used as illegal refineries at Otumara Community in…
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The Nigerian National Petroleum Corporation (NNPC) has commenced the massive redeployment of managers especially in its upstream industry exploration and production subsidiary, the Nigerian Petroleum Development Company Limited (NPDC). …
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President Muhammadu Buhari has reopened talks with Process and Industrial Development (P&ID), the Irish engineering firm that recently won a $9.6 billion judgement against Nigeria. Vice President Yemi Osinbajo chaired the meeting in…
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The Federal High Court in Abuja has granted the Asset Management Corporation of Nigeria (AMCON) application to take over the assets of the Chairman of SEPLAT Petroleum Development Company, Ambrosie Orjiako. The court also ordered…
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The suspension of flow of natural gas from Oil Mining License (OML) 34 has hit three days, following the shutdown of Abura Crude Trunkline, situated at Otu-Jeremi town in Ughelli, Delta State. The gas pipeline, which was shut down last…
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The Nigerian National Petroleum Corporation (NNPC) has disclosed that earnings from oil and gas production in June were down by 44.65 per cent, indicating a value reduction of about $226.38 million between May and June 2019. The…
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Nigeria will continue swapping crude for fuel for at least three more years because its refineries are still not fully operational. Africa’s biggest oil producer, which previously had a goal of revamping the plants by this year, will…
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A Presidency source has disclosed why the Petroleum Industry Bill (PIB) passed by the eighth Senate was not signed into law. President Muhammadu Buhari, who is the Minister of Petroleum Resources, will be deeply involved in the…
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