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Nigeria rakes in $2.45b from oil, gas export

The Nigerian National Petroleum Corporation (NNPC) raked in a total of $2.45billion from the export of crude oil and gas from May 2016 to May 2017, it said in its May Financial and Operations Report yesterday. From the total export receipt,...

July 22, 2017

Green Post

Nigerian Government Approves National Gas Policy

Nigeria’s government has approved a national gas policy that aims to reduce the country’s dependence on crude oil by increasing gas exploration and facilities, the oil ministry said in a statement. The policy was passed in last week’s cabinet session...

July 19, 2017

Green Post

Why Nigerian govt, states must establish functional sovereign wealth fund – NEITI

The federal and 36 state governments must remove bottlenecks to a functional sovereign wealth fund, SWF to provide cover against shocks during periods of instability in global oil prices, the Nigerian Extractive Industries Transparency Initiative, NEITI, said on Tuesday. To...

July 18, 2017

Uncategorized

Stakeholders seek more attention for domestic gas market

Stakeholders in the oil and gas sector have reiterated the need for managers of the Nigeria gas sector to rethink and change focus towards developing the local gas market. The industry experts while sharing their thoughts on the recently approved...

July 18, 2017

Uncategorized

Oil theft: Appeal Court upholds foreigners’ jail sentence

The Court of Appeal, Lagos Division, has affirmed the judgment of a Federal High Court, Lagos, which sentenced nine foreigners to five years imprisonment for stealing crude oil from Nigeria. The three-man panel, comprising Justices Hussein Mukhtar (presiding), M. L....

July 17, 2017

Uncategorized

US Department of Justice Seeks Recovery Of Almost $150M Corruptly Obtained By Ex-Oil Minister Alison-Madueke, Kola Aluko And Jide Omokore From Nigeria’s Oil Industry

Officials of the United States Department of Justice (DoJ) yesterday announced that they were filing a civil complaint seeking the forfeiture and recovery of approximately $144 million in assets that were allegedly the proceeds of foreign corruption offenses and were...

July 17, 2017

Uncategorized

Nigerian Oil Company Oando Under Probe By Nigeria’s Securities and Exchange Commission

Nigeria’s Securities and Exchange Commission (SEC) is probing Oando, an oil company owned and run by Wale Tinubu, a cousin of former Governor Bola Tinubu of Lagos State. Mr. Bola Tinubu, the national of the All Progressives Party (APC), is...

July 15, 2017

Green Post

Nigeria Has Let Its Economic Crisis Go to Waste

The term “dead cat bounce” derives from the fact that even a dead cat will bounce if it falls from a great height. If you imagine a dead cat soaked in crude oil and dropped from a 50-storey building, you...

July 14, 2017

Green Post

Rig owners seek alternative funding for oil industry

Rig owners in Nigeria have tasked the Federal Government to implement the alternative funding stream for joint venture operations it approved in November last year.The operators regretted that the inability of government to execute the plan has further thrown the...

July 14, 2017

Uncategorized

OPEC to ask Nigeria, Libya to cut oil production

Indications have emerged that Libya and Nigeria, both oil producing nations exempted from production cut agreement reached by the Organisation of Petroleum Exporting Countries, OPEC, may be asked to cap their crude output soon. Kuwait Oil Minister, Issam Almarzooq, said...

July 12, 2017

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Author: Doowe

Nigeria rakes in $2.45b from oil, gas export

Nigerian Government Approves National Gas Policy

Why Nigerian govt, states must establish functional sovereign wealth fund – NEITI

Stakeholders seek more attention for domestic gas market

Oil theft: Appeal Court upholds foreigners’ jail sentence

US Department of Justice Seeks Recovery Of Almost $150M Corruptly Obtained By Ex-Oil Minister Alison-Madueke, Kola Aluko And Jide Omokore From Nigeria’s Oil Industry

Nigerian Oil Company Oando Under Probe By Nigeria’s Securities and Exchange Commission

Nigeria Has Let Its Economic Crisis Go to Waste

Rig owners seek alternative funding for oil industry

OPEC to ask Nigeria, Libya to cut oil production

The Great Fuel Switch: How 24 Nigerian States are Defying the Global $150 Oil Threat

The Egyptian Move: Why the “CNG Giants” Are Betting Big on Nigeria

The Global LPG Shortage: Why the World is Desperate for Nigerian Gas

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