The minister of state for petroleum resources, Dr. Emmanuel Kachikwu has said Nigeria is expecting a loan facility of close to $4 billion from China. Speaking with state house correspondents after Wednesday’s meeting of the federal executive council, Kachikwu said the loan, which will be used to bolster infrastructure in the oil industry, was one of the results […]
Continue Reading
September 23, 2016 The Acting Chairman, Economic and Financial Crimes Commission, 15A Awolowo Road, Ikoyi, Lagos. REQUEST TO INVESTIGATE ALLEGATION OF CRIMINAL DIVERSION OF PUBLIC FUNDS AND ILLEGAL WITHHOLDING OF FUNDS FROM THE FEDERATION ACCOUNT In our letter dated 8th April, 2016 we prayed the Minister of Finance to take urgent steps to recover billions […]
Continue Reading
The Nigerian National Petroleum Corporation (NNPC) has disclosed that the country’s crude oil and gas reserves are fast declining. The Corporation, therefore, appealed to oil and gas exploration companies, professionals and other stakeholders to focus on increasing the nation’s oil and gas reserve base. The NNPC Group Managing Director, Mr Maikanti Baru, stated this in […]
Continue Reading
The Nigerian National Petroleum Corporation (NNPC) has declared its readiness to complete the ongoing Escravos to Lagos Pipeline System 2 (ELPS-2) project in the last quarter of this year. A statement signed by the corporation’s Group General Manager Public Affairs, Mallam Garuba Deen Muhammad, quoted the Group Managing Director, Dr. Maikanti Baru, as saying that […]
Continue Reading
A former acting group executive director of the Nigerian National Petroleum Corporation (NNPC), Dr. Tim Okon, has revealed that Nigeria spent an estimated $35bn as subsidy on petroleum products out of the $300bn earned from crude oil from 2010 and 2014. This is just as experts from the oil sector have called on the Federal […]
Continue Reading
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has urged the National Association of Petroleum Explorationists (NAPE) to explore the hydrocarbon potentials of green frontier basins in order to increase the depleting reserves in the country. He said the federal government would be willing to make provisions for incentives […]
Continue Reading
The Federal Government delegation has met with some leaders and traditional rulers from the Niger Delta . The Monarchs and the leaders had on Friday set up a negotiation team to meet with the government on behalf of militants in the region . Thursday’s meeting between the Government and the Monarchs was held at the […]
Continue Reading
The 19 northern state governments have intensified their search for oil and gas in the region with the appointment of a British firm to carry out the exploration activities. This is coming about two weeks after President Muhammadu Buhari had directed the Nigerian National Petroleum Corporation to increase the tempo of the crude oil find […]
Continue Reading
The Nigerian National Petroleum Corporation, NNPC, may have concluded plans to start importing crude oil from Chad and Niger Republic to feed its Kaduna Refinery in order to address constant shortages at the refinery due to the renewed militancy in the Niger Delta. Aside from importing from Chad and Niger, the NNPC is also said […]
Continue Reading
The Spanish Ambassador to Nigeria, Mr. Alfonso Barnuevo, has disclosed that his country was currently spending about €4.6bn (N1.6tn) on the purchase of Nigerian oil and gas. Barnuevo, who stated this when he paid a visit to the Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, stated that Nigeria and Spain […]
Continue Reading
