THE Korean National Oil Company, KNOC has urged a High court sitting in Abuja to restore its two oil prospecting licences revoked earlier this year by the Federal Government over the company’s alleged inability to pay in full the signature bonus put at $485 million.

By Yemie Adeoye NIGERIA’S present gas reserves may have gotten up to 600 trillion cubic feet (tcf), away from the much reported 187 (tcf) , if a report said to be issued by the United States Geological Survey is anything to go by.

AMONG countries operating in the extractive industry, Norway is a model on transparency and has been trying to assist Nigeria in this regard.

ABUJA – THE Petroleum Technology Development Fund will from this year extend its upgrade of departments in Nigeria universities to the state government-owned institutions.

By Yemie Adeoye THE nation’s oil   production figure for first quarter 2009 as released by the Department of Petroleum Resources, DPR in Lagos recently has been put at 2,049,418 barrels of oil per day, bopd. The Acting Director of Petroleum Resources, Mr. Billy Agha stated this during the first quarter media briefing of the department […]

ABUJA – THE Federal Government has said the country would need to sharpen its energy framework in the light of the new energy policy of the United States Government under President Barack Obama.

NIPCO Plc has announced its operating results for the financial year ended December 31, 2008 showing impressible performance in all business indices even in spite of the challenging economic terrain plaguing the downstream sector.

IN May 2001, a rash of violent activities broke out in Rivers State, Nigeria. The origins of these activities were political – political parties and their members jostling for areas of dominance and influence.

OANDO Marketing Limited, OML, a subsidiary of Nigeria’s energy giant, Oando PLC, has recorded a landmark achievement with the signing of an operating agreement with Banner Gas, an engineering, construction and maintenance company with expertise in gas storage facilities for the installation of Liquefied Petroleum Gas, LPG filling plants at Oando service stations nationwide.

NIGERIA Labour Congress, NLC, has announced that Labour and its civil society allies under the aegis of Labour and Civil Society Coalition, LASCO, would today, in the ancient city of Kano, Kano State, resume the national protest rallies against government planned full deregulation of the downstream sector of the petroleum sector, privatisation of public refineries among others, suspended about a month ago.

SHELL has said its Nigerian joint venture had extended forces majeure on Bonny Light and Forcados crude to include oil exports for June.

The strategic relationship between Nigeria and China will be further strengthened as Mr. Jiang Jianqing, Chairman of Industrial and Commercial Bank of China (ICBC) Limited, visits the country.

PRESIDENT Umaru Yar’Adua has said that if Nigeria as a nation must not compromise its quest for economic development, there was the urgent need for us to imbibe a culture of transparency, probity and accountability.

Banking and finance experts have faulted the recent Fitch Rating recent report on Nigerian banks saying the situation is not hopeless situation as portrayed by the report.

Following the Ap proval-in-Principle (AIP) licence granted it by the Central Bank of Nigeria (CBN), Credit Registry Services Plc has announced plans to shore up its subscriber base to over three million customers before the end of 2009.