Alleged crude oil theft: How Nigerian suspect splashed N29.024bn on yatch – US court documents
Court documents filed by the US Department of Justice in Houston have revealed that Nigeria’s former oil minister, Diezani Alison-Madueke, allegedly tried to warn Kola Aluko and Jide Omokore, her business partners, against lavish spending, including splashing millions of dollars on a yacht.
Operators predict likely crisis over reserves depletion
Petroleum industry operators have called on President Muhammdu Buhari, to urgently stimulate exploration and production activities in the country in order to place Nigeria on a competitive reserves and production status with its peers in the Organisation of the Petroleum Exporting Countries, OPEC.
Marketers accuse FG of encouraging market ‘monopoly’
PRIVATE and independent oil marketers have accused the Petroleum Products Pricing Regulatory Agency, PPPRA, of encouraging a monopolistic system in the downstream petroleum sector run by the Nigerian National Petroleum Corporation, NNPC, and major marketers.
RETURN OF N-DELTA MILITANCY? Major crude oil, gas pipelines bombed
Attacks on oil installations in Delta State entered the third day, yesterday, as militants blew-up major crude oil and gas pipelines to the Chevron Nigeria Limited, CNL, Tank Farm in Warri South West Local Government Area of the state.
Nigeria’s crude oil export dips by N4.4trn in 9 months
A sharp decline was recorded in revenue accruable to the Federal Government from the petroleum sector, as the country’s earnings from crude oil export dropped to N5.271 trillion for the nine month period, January to September 2015.
Indigenous operators produce 6% of Nigeria’s oil
Independent and marginal oil fields’ operators as at the end of the third quarter, Q3, accounted for about 5.72 per cent of total crude oil and condensates production, according to the Nigerian National Petroleum Corporation, NNPC financial statement.
