Revenue from the oil and gas sector has been identified as the cause of corruption and conflicts in Nigeria. This conclusion was drawn by several key speakers including the United Kingdom Deputy High Commissioner in Nigeria, Mr. Peter Carter and Head of the United Nation’s Global Compact (UNGC), Ms. Olajobi Makinwa, at a dialogue on […]
An independent upstream oil and gas exploration and production company, Afren Plc, has said it has discovered a significant light oil accumulation at the high impact Ogo-1 well located on the Oil Prospecting License (OPL) 310 licence offshore Nigeria. The discovery is based on the results of drilling and wireline logs. The firm said this week, that the […]
I was in a church recently and there was a call for donations in support of a project. Someone stood before the church to support the project but also decided to exhort the church on the blessings that accrue from giving to God. According to him, some months back, there was a call for financial […]
When the people act, corruption stops! YOU have an active role and are a deciding factor to whether corruption stays or goes in Nigeria. You are the Judge! You and about 160 million other Nigerians can nod “Yes” to allow the wanton spate of corruption to advance to the next level, or “No” to evict corruption […]
Shell Petroleum Development Company of Nigeria Limited, the Nigerian subsidiary of Royal Dutch Shell, may reduce its oil production by 750,000 barrels per day as it reviews its stake in 28 oil blocks in the country. The company announced in a statement that it was embarking on a strategic review of its business, saying it […]
The Speaker of the House of Representatives, Aminu Tambuwal, said on Tuesday the House Committee on the Petroleum Industry Bill would submit its report on July 11. Tambuwal said at a business lecture organised by the Island Club in Lagos that the committee had concluded hearings on the bill in all the regions except Abuja. […]
Corruption has been with Nigeria for a long time but some would argue it has never been this daring. We are at the stage of impunity and the transformation has been extraordinary. Under the Jonathan administration alone, some N5 trillion have been stolen under one guise or another. This was the assertion of a PUNCH […]
A United States-based Chevron Corp is selling five Nigerian shallow-water oil blocks, the oil firm said yesterday , the latest oil major seeking to dispose of assets in Africa’s biggest producer, the Reuters reports. Royal Dutch Shell, Italy’s Eni and France’s Total have sold several Nigerian onshore blocks in recent years, while U.S. firm ConocoPhillips […]
Stakeholders in Nigeria’s oil and gas industry predict that the country may suffer even lower crude output than stated in last week’s report by the International Energy Agency, IEA, that Nigeria’s crude oil output declined to a six-month low to 1.96 million barrels per day, mbd contrary to budget benchmark of 2.567mbd. The immediate past […]
Operatives of the Inspector General of Police Special Task Force on anti pipeline vandalism have arrested a former staff of the Nigerian National Petroleum Corporation, NNPC, Bashiru Majorette, while allegedly siphoning petroleum product at Odi Ifediwo area of Ogun State. Preliminary investigation, according to officer in-charge of the unit, Friday Ibadin,an Assistant Commissioner of Police, […]