NEWS

……..Gulf of Guinea Accounts for 4.5mbd in Africa………From 44 piracy incidents in 2020 to 11 in 2021 Nigeria’s chief of naval staff, Vice Admiral, Awwal Gambo has given the Navy a pat on the back, noting that there has been a marked…

The Independent Petroleum Marketers Association of Nigeria (IPMAN), has called on the Federal Government to immediately pay marketers their bridging claims estimated at about N500 billion to enable them commence the lifting of petroleum…

Minister of state for Petroleum Resources, Mr. Timipre Sylva, has said that Nigeria’s cooperation with other West African member nations on the West African Gas Pipeline Project, (WAGP) has recorded numerous accomplishments and gains. …

Years of government neglect and unemployment in Nigeria’s Niger Delta region have given rise to a widespread industry of illegally refining stolen oil. It is estimated that about 10% of Nigeria’s daily oil production is lost to illegal…

………..blames oil thieves in the Niger Delta The Central Bank of Nigeria (CBN) has blamed the rising crude oil theft in the country for the apex ban’s inability to grant foreign exchange to Nigeria airline operators agitating for rebate…

……..Says it will not fix price for aviation fuel The Nigerian National Petroleum Company (NNPC) has asked airline operators to request for import license to enable them import aviation fuel for their operations. Stating their…

……...The proposal could ban Russia from accessing European insurers As the European Union (EU) continue to tighten its hold on Russia with stiff sanctions, the bloc is reported to be planning to add to the last sanction, with the plan…

Nigerian Supreme Court, last Friday, declared that the 17 oil wells claimed by the Rivers State government against Imo State belonged to the state (Rivers). Other defendants in the matter are the Revenue Mobilisation Allocation and the…

……..Pipeline vandalism is a crime against everyone The volume of crude oil stolen between January and April 2022 in Nigeria has risen to about 250,000 barrels per day, with a total loss of about $1,5billion, records from the Nigerian…

Nigeria minister of state for petroleum, Timipre Sylva, has hinted that the famed estimated at $25billion, Nigeria-Morocco Gas Pipeline may not be completed by President Muhammadu Buhari. He said at the moment, the much the Buhari…

Group managing director of Aiteo Exploration and Production, Mr. Victor Okoronkwo, has lamented Nigeria’s heavy reliance on foreign funding for oil and gas exploration and production in the country. Mr. Okoronkwo said this while…

Bloomberg has predicted that Nigeria may face a new fiscal challenge following the European Union (EU) proposal to completely ban Russian crude oil. Orient Energy Review magazine reported yesterday that the EU has finally proposed a…

On the heels of EU’s plan for a comprehensive boycott of Russia oil by members of the bloc, Dutch oil giant, Shell has said that there is no way to trace whether there is Russian crude oil or how much crude from Russia will go into the…

European Commission (EU) yesterday made real the threat to officially proposed a full ban on Russian crude and oil product imports by the end of the year, as reported by Orient Energy Review. Details of the new sanctions package…

The European Union (EU) is expected to release today details of fresh sanctions against Russia, targeting the oil industry, banking, and disinformation campaigns. The new sanctions will be EU’s sixth round of sanctions against Russia…

Standard Organization of Nigeria (SON) has honoured Forte Upstream Services Limited with ISO 9001:2015 certificate for quality management system. Formerly known as AP Oilfield Services Ltd, Forte Upstream Service Limited is a…

The board of Kaduna Electricity Distribution Company Plc has appointed Yusuf Usman Yahaya as the new Managing Director/Chief Executive Officer of the company. Yahaya’s appointment is sequel to the resignation of the former managing…

Minister of State Petroleum Resources, Chief Timipre Sylva has disclosed that the European Union's decision to label natural gas resources as green energy has given Nigeria hope of successfully benefiting from its 207 trillion cubic feet…

A university don, Professor Ben Naanem of the department of economic history at the University of Port Harcourt, River state, has called for the regularization and standardization of the ‘illegal refineries’ as a means of checking oil…

………As Senate mourns death of 110 Victims  Senator Rochas Okorocha called on the federal government to consider a legislation to provide for local technology for artisanal and modular refinery considering the gap in Nigeria’s refining…