•President Paul Kagame of Rwanda Rwanda said today it had made its first oil discovery, with confirmation of 13 reservoirs in Lake Kivu, which makes up part of its border with DR Congo. “The good news is that we have oil,” Francis Kamanzi, CEO of the Rwanda Mines, Petroleum and Gas Board, told a parliamentary […]
•Crude oil When the oil wells of the Niger Delta finally dry up or global demand fades, what will become of the millions whose livelihoods depend on the region’s black gold? This question was repeatedly raised during Civil Society Organisations (CSOs) gathering in Uyo, Akwa Ibom State today as they painted a stark picture of […]
The Joint Task Force South-South, Operation Delta Safe (OPDS), has restated its commitment to securing the pipelines, saying Nigeria’s crude oil production has hit 1.7m barrels per day (bpd). This information was disclosed in a statement signed by the Coordinator (OPDS) Joint Media Campaign Centre Major Kayode Owolabi. He disclosed that follow...
•Crude oil With Nigeria’s oil production consistently failing to meet budget benchmarks and allotted OPEC quotas, the industry’s regulators and operators have come under severe pressure to fix the hostile operating environment that has seen both investors and international contractors move away from the country. Against the backdrop of the OPE...
•NNPC boss, Mele Kyari The Nigerian National Petroleum Company Limited says it has declared a state of emergency on oil production. It said this was a move towards increasing Nigeria’s crude oil production and growing its reserves. Group Chief Executive Officer of NNPCL, Mele Kyari, disclosed this in a keynote address at the opening of [&helli...
•Dangote refinery The domestic crude oil supply crisis that recently led to accusations and denials in the oil sector may warrant an investment plunge in the industry, operators declared yesterday. According to operators at the Lagos Chamber of Commerce and Industry, the crisis may damage the confidence of International Oil Companies and inves...
•Rising oil prices Oil prices surged more than three percent in early Asian trade today following unconfirmed reports of explosions in Iran, Syria and Iraq, sparking fears of an escalation of the Middle East crisis. West Texas Intermediate jumped 3.66 percent to $85.76 and Brent rose 3.44 percent to $90.11. The reports come after a […]...
Stock markets fell and oil prices climbed today on growing fears of a wider war in the Middle East after Israel’s army chief vowed a response to Iran’s unprecedented attack on his country at the weekend. The selling came after Wall Street’s three main indexes tanked in response to forecast-beating US retail sales data that […]
•Seriake Dickson Senator Seriake Dickson representing Bayelsa West in the National Assembly has alleged that bigwigs from Lagos and the Federal Capital Territory, Abuja, are masterminds of the oil theft on Niger Delta soil. The lawmaker, who has been in the red chamber since 2020, was a guest on Channels Television last night. Dickson, a [&hel...
The major downstream marketers under the aegis of the Major Energies Marketers Association of Nigeria, (MEMAN), have said that the country’s petroleum products distribution and supply chain may face more challenging complexities going by current foreign exchange market intricacies. The Executive Secretary of the Association, Clement Isong spok...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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