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The House summons NNPC CEO Mele Kyari to investigate oil-related environmental degradation, stressing the urgency of addressing community concerns CEOs of major oil companies and relevant government agencies are also summoned,…
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The Kaduna Internal Revenue Service (KADIRS) has sealed branches of the United Bank for Africa (UBA) in the state capital over an alleged refusal to pay N14.3 million in tax. Hajiya Aysha Ahmad, the KADIRS Board Secretary and Legal…
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Crude oil futures settled on Wednesday after the release of American Petroleum Institute data showing a draw in US crude stocks, with bearish factors generally dominating the market. Brent crude futures settled at $60.53/per barrel,…
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Central Bank of Nigeria, CBN Nigeria’s external reserves shed $2.16 billion in the past month, falling to a seven-year low of $32.29 on April 15, 2024, from $34.45 billion on March 18, 2024, according to CBN data. A recent Bloomberg…
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Benin is expected to receive transit duties and tax revenues per quantity of Nigerien oil that gushes out at Sémè Kraké. The projection comes as the platform where the pipeline which connects the Agadem oil fields lands. Last…
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New SOAN Executives to harness opportunities in Nigeria’s $300bn blue economy Sonny Eja, the newly inaugurated president of the Ship Owners Association of Nigeria (SOAN), said the association under his leadership will focus on…
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Oil prices surged as Brent crude oil appreciated to $88.42 a barrel while U.S. West Texas Intermediate (WTI) crude climbed to $83.36 a barrel. The uptick in prices comes as the U.S. dollar index dipped to its lowest level in over a…
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Nigeria’s Platform Petroleum will participate as a Bronze Sponsor of the Invest in African Energy (IAE) 2024 forum in Paris, as the indigenous operator seeks new capital and technologies to further develop Nigeria’s marginal…
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If oil disappeared tomorrow, there would be no more jet fuel, gasoline or diesel. Internal combustion engine automobiles, buses, trucks, lorries and coaches would be stranded. Airplanes powered by jet fuel would be grounded. Freight…
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The Federal Government is aiming to attract about $10bn worth of investment through the signing of the consolidated guidelines for the implementation of Fiscal Incentives for the Oil & Gas Sector. The guidelines, a cornerstone…
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