•Tinubu The Nigeria Employers’ Consultative Association, NECA, has advised the federal government to eschew pride and review the removal of fuel subsidy and the floating of nation’s currency, the naira, warning of looming unemployment crisis, particularly with the current harsh economic situation. 4 NECA’s position came on a day oil marketers,...
•Tinubu Oil marketers under the aegis of the Natural Oil and Gas Suppliers Association of Nigeria, NOGASA, have pleaded with President Bola Tinubu to peg the exchange rate of the Naira to the Dollar at the 2024 Budget benchmark of N750/dollar. NOGASA President, Mr. Benneth Korie told journalists in Abuja constant devaluation of the Naira [&hel...
•Dollars The Central Bank of Nigeria (CBN) has stopped international oil companies from repatriating 100% foreign exchange proceed to their mother companies overseas. The Director of Trade and Exchange Department at the apex bank, Hassan Mahmud, made this known in a circular dated February 14, 2024. … developing story
•Port Harcourt refinery Shell Petroleum Development Company of Nigeria Limited says it has completed the supply of over 475,000 barrels of crude oil to the Port Harcourt Refining Company Limited (PHRC), through its Bonny Oil & Gas Terminal (BOGT). This, according to a statement signed by the Media Relations Manager, Abimbola Essien-Nelson,...
Masquerading oil barons for many years, the crude oil cartel exploiting the country has camouflaged itself so that nobody knows the powers behind the powerful syndicate. People hear and read about the arrest of foot soldiers working for the syndicate, especially captains\crews of light-fingered vessels, and the boys “cooking” crude oil in the ...
French energy giant TotalEnergies is set to sell its onshore business in Nigeria, its CEO Patrick Pouyanne has said, noting that operation in the Niger Delta is a “real difficulty.” Another oil major Shell announced last month that it was selling its onshore property—the Shell Petroleum Development Company(SPDC)—after decades of operation in t...
•Troops The General Officers Commanding (GOCs) of 6 and 82 divisions of the Nigerian Army, Maj.-Gen. Jamal Abdussalam and Maj.-Gen. Hassan Dada, have ordered troops to destroy all illegal oil bunkering sites within their areas of responsibilities in the Niger Delta and the southeast. The GOCs were said to have given the order when they [&helli...
•Tantita Operatives of Tantita Security Services Limited (TSSNL) owned by former freedom fighter, Chief Government Ekpemupolo alias Tompolo, in collaboration with security personnel, have arrested another vessel for crude oil theft in Bayelsa State. The vessel MT Harbour Spirit, with IMO No. 8226272, is anchored at the Tantita facility in Opor...
•Dangote refinery The Dangote Petroleum Refinery has confirmed the registration of oil marketers as its distributors. Dangote Group said today that it had registered three associations of marketers in the Nigerian oil sector. In a statement on its X today, the Dangote Group listed the marketers to include members of the Depot and Petroleum Pro...
•Heineken Lokpobiri Following the mass divestment of assets belonging to some International Oil Companies (IOCs), the latest being Shell Petroleum Development Company (SPDC) Onshore and Gas Assets Limited, the Minister of State, Petroleum Resources (Oil), Heineken Lokpobiri, has asked worried Nigerians not to lose sleep over the matter as the ...
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