EFCC recovers $354 million royalty outstanding from defaulting oil&gas company for NUPRC
Oredola Adeola The Economic and Financial Crimes Commission (EFCC) has announced the recovery of $354 million in royalty payments from...
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FAAC shares N68.572 billion to 10 oil-producing states as 13 percent derivation revenue in November
Oredola Adeola The Federation Account Allocation Committee (FAAC) has shared the total sum of N68.572 billion to the ten oil-producing...
ExxonMobil in another messy deal in Chad, despite assets’ sales stalemate in Nigeria
Oredola Adeola Exxon Mobil has found itself in another fresh crisis in the Republic of Chad that may lead to...
OPEC oil production: Nigeria bounces back as African biggest oil producer in November, first time in six months, overtakes Angola, Algeria
Oredola Adeola Nigeria has bounced back by taking the lead as Africa’s ‘biggest’ oil producer, by increasing its crude oil...
Nigeria’s crude oil production recovers for second consecutive month, hits 1.185mbpd in November
Oredola Adeola Nigeria’s crude oil production has increased by an average of 171,119 barrels per day (bpd) in November, to...
NNPCL acquires Chevron’s legacy shallow-water assets with $300m obtained from firm linked to MRS, Dangote
Oredola Adeola Nigerian National Petroleum Company Limited (NNPCL) has obtained funds from Bestaf Funding Limited (“BFL”), an integrated firm owned...
Stakeholders at PwC’s forum recommend partnership between marginal field owners, indigenous refiners to boost refined petroleum products
Oredola Adeola New owners of the 57 marginal oil fields recently issued Petroleum Prospecting Licences (PPLs) by the Federal Government...
Nigeria’s crude oil production hits 1.59mbpd, as FG adopts 4-pronged strategy against oil theft
Oredola Adeola Nigeria’s crude oil production output has been restored to 1.59 million barrels per day, from 937,000 barrels...
Crude oil theft: NSA inaugurates 11-man special investigative panel, says Nigeria may lose $23 billion in 2023
Oredola Adeola Major General Babagana Monguno, National Security Adviser, (NSA) has warned that Nigeria is likely to lose $23 billion...
Crude oil theft: Nigerian Navy begins “fiscalisation” process, inspects meter reading at crude oil loading terminals
Oredola Adeola The Nigerian Navy has revealed the plan to collaborate with the Nigerian National Petroleum Company Limited (NNPCL) on...
