$1.2bn Malabu oil deal: Court orders arrest of Adoke, Etete, others

A High Court of the Federal Capital Territory (FCT) in Jabi has ordered the arrest of two former ministers – Mohammed Adoke (Justice) and Deazia Louya Etete (aka Dan Elete) (Petroleum Resources).... Read more »

Senate bows to President, reviews, passes PIGB …Rejects Bill on Electric Vehicles

Damilola Shittu with Agency Report The Senate, Wednesday bowed to President Muhammadu Buhari’s positions on Petroleum Industry Governance Bill (PIGB) and six others he had vetoed, reviewing and passing them in accordance... Read more »

NNPC’s financial records insufficient for govt oversight —Report

A New York-based Natural Resource Governance Institute (NRGI) yesterday stated that the financial reports of the Nigerian National Petroleum Corporation (NNPC) do not contain systematic financial information that would enable the Federal... Read more »

Construction of US $75m liquefied petroleum gas plant in Kenya begins

Construction of a US $75m liquefied petroleum gas (LPG) plant in Liwatoni area of Mombasa, a coastal city in Kenya, has commenced. According to the Construction Review, the onshore storage and filing... Read more »

Nigeria’s daily petrol supply hits 56 million litres —PPPRA

Damilola Shittu – Abuja The Petroleum Product Pricing Regulatory Agency (PPPRA) has put the country’s daily supply of Premium Motor Spirit, otherwise known as petrol, at 56 million litres. In a statement... Read more »

Nigeria mismanaging Excess Crude Account —IMF

The International Monetary Fund has criticised the government of Nigeria for mismanaging the Excess Crude Account and not saving enough for the rainy day. The News Agency of Nigeria (NAN) has reported.... Read more »

Chevron buys Anadarko in $33 billion bet on shale, LNG

Chevron agreed to buy Anadarko Petroleum in a $33 billion bet on the Permian shale-oil region and liquefied natural gas, intensifying a battle with Exxon Mobil to be America’s top energy company.... Read more »

Anxiety as fuel queues return …NNPC, marketers allay scarcity fears

By Oke Peter Filling stations in some parts of Lagos experienced queues on Friday amid a supply hitch that slowed down the distribution of the Premium Motor Spirit (petrol). Our correspondent learnt... Read more »

800 companies bid for 176 gas flare points, says Kachikwu

Efforts of the Federal government to eliminate gas flaring in the country got a boost on Thursday as the Minister of State, Petroleum Resources, Dr Ibe Kachikwu disclosed that over 800 Expression... Read more »

IMF urges Nigeria to remove fuel subsidy

Agency Report The Managing Director, International Monetary Fund (IMF), Mrs. Christine Lagarde, has advised the Nigerian government to jettison spending on fuel subsidy and expend the money on health, education and infrastructural... Read more »