$50m Found In The Account Of PDP Guber Candidate Involved In Oil Theft, As EFCC Denies Being Manipulable

The Economic and Financial Crimes commission (EFCC) today admitted it has arrested and detained Jarrett Tenebe, a People’s Democratic Party (PDP) gubernatorial hopeful in Edo State who is involved in high level oil theft in the country. Read more

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Nigeria Oil Theft At Highest Level In Years

Nigeria is facing its worst oil crisis in years, as the country is losing billions of dollars due to theft. In Southern Ijaw in Bayelsa State, Al Jazeera's Rawya Rageh follows an oil theft arrest and the destruction of multiple illegal refineries for stolen crude. Read more

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NNPC seeks Army, Police’s support to protect assets

The Group Managing Director, Nigerian National Petroleum Corporation, Dr. Joseph Dawha, has called on the Nigerian Army and the Nigeria Police Force to assist in protecting the corporation’s vital oil and gas assets. Speaking during courtesy visits to the Chief of Army Staff, Lt.-Gen. Kenneth Minimah, at the Defence Headquarters, and the Acting Inspector General of Police, Mr. Suleiman Abba, at the Force Headquarters, Dawha thanked the security

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‘Nigeria now dumping ground for substandard lubricants’

Stakeholders in the downstream sector of the country’s petroleum industry have raised the alarm over the influx of substandard lubricants into the country and the proliferation of quasi-lubricant substances being used widely by consumers. The Lubricants Producers Association of Nigeria, in a document made available to our correspondent, stated, “It is worrisome to note that the market is also a dumping ground for sub-standard and off-specification

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No action from Shell, Nigeria on Ogoniland pollution report – Amnesty

Nigeria and Shell have done almost nothing to ease oil pollution in the Ogoniland area of the Niger Delta, three years after a landmark UN report called for a $1 billion dollar clean-up, Amnesty International said Monday. Environmental devastation in Ogoniland has for many come to symbolise the tragedy of Nigeria’s vast oil wealth. Continue Reading

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$49.8 billion oil revenue not missing – Makarfi

Senate Committee Chairman on Finance and former governor of Kaduna State, Senator Ahmed Makarfi, throws light on how his committee handled investigation into the controversial unremitted US$49.8 billion crude oil revenue funds by the Nigeria National Petroleum Corporation (NNPC). continue reading

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Why 18 greenfield refineries are yet to take off

The Group Managing Director of the Nigerian National Petroleum Cor­poration (NNPC), Andrew Yakubu has attributed the delay in commencement of the nation’s Greenfield refineries to the need to resolve all commercial and busi­ness issues on the project. Licences for the building of greenfield re­fineries were granted to 18 firms three years ago, but they are yet to start construction rais­ing worries in some sectors as to the cause of the delay.

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We paid FG $44bn in five years – Shell

The Shell Petroleum Development Company of Nigeria Limited has said it contributed about $44bn to the Federal Government’s coffers between 2009 and 2013. According to the company, the Federal Government also received about 95 per cent of the revenue after costs from the SPDC Joint Venture, including income from its majority shareholding through the Nigerian National Petroleum Corporation. Continue Reading

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$35m lost daily to oil theft – Confab committee

The National Conference Committee on Energy has said that the country is losing about 350,000 barrels of oil per day, estimated at about $35m, to crude oil theft and called on the Federal Government to wake up from its slumber and tackle the menace frontally. The Chairman of the committee, who is also a former Governor of Oyo State, Alhaji Rashidi Ladoja, stated this while presenting the report of his committee to the plenary in Abuja on Monday. Continue

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500 illegal refineries destroyed in four months in N’Delta

The Nigerian Navy Ship, NNS Delta, has said no fewer than 500 illegal crude oil refineries situated along the Niger Delta creeks have been destroyed in the last four months. It also disclosed that the security agency is winning the war against oil theft in the area, but that its success story was being hampered by lack of equipment to flush out oil thieves and to curb other criminal activities along the waterways. Continue Reading

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