Energy articles

Oil Swap Deal: The “conspiracy theory” against Captain ‘Hosa

Oil Swap Deal: The “conspiracy theory” against Captain ‘Hosa

By Sufuyan Ojeifo These are trying times for many businesses and their owners in Nigeria.  Businesses are crumbling due to economic upheavals. Reputations of businessmen and women, nay government contractors, especially those of them who are not politically correct, are being shredded on account of some alleged malfeasances in recent years. Nevertheless, survival, in this

FG To Stop Fuel Importation In 2019 With New Oil Policy

The Federal Government is set to stop the importation of fuel by 2019 with the approval of a new National Oil Policy by the Federal Exective Council. The Minister of State for Petroleum, Mr Ibe Kachikwu told journalists that the policy is geared towards re-organising the NNPC for greater efficiency and accountability. This is a

Oando Denies Media Report, Says Company Co-operating With SEC

Integrated energy trader, Oando Nigeria Plc has come under a comprehensive investigation by the Securities and Exchange Commission (SEC). It was gathered that the securities commission conducted several weeks of investigations, upon which the board and management of Oando Nigeria have been written a formal letter to explain matters relating to observed malpractices in the

Again, Nigeria shifts gas flaring deadline

Nigeria, the seventh largest gas flarer in the world, has endorsed a “Zero Routine Flaring by 2030” Initiative, a global effort to end routine flaring, which allows the country to shift the 2020 target to end the 38-year old air pollution by another 10 years. The Ministry of Petroleum Resources revealed this in a document

Revealed: Addax to pay $32m to settle Swiss bribery charges

Addax Petroleum had agreed to pay 31 million Swiss francs ($32m) to settle charges of suspected bribery of foreign officials, the Geneva prosecutor’s office said on Wednesday. Prosecutors for the Swiss canton of Geneva investigated the company, whose chief executive officer and legal director were also charged, over several tens of millions of dollars payments

WALE TINUBU: Tribute To A Rare Icon At 50

By Emmanuel Ajibulu I respectfully ask Nigerians to join me in a special toast to a quintessential Wale Tinubu, as he turns 50 today, June 26, 2017. It is not every day I can seek such favours but this perfect gentleman means so much to Nigeria’s labour market as well as the petroleum industry sector.

NNPC completes refund of N450 billion to Nigerian govt, states, LGs – Adeosun

The Nigeria National Petroleum Corporation, NNPC, has completed the refund of N450 billion to the federation account, to be shared among the federal, states and local governments. The Permanent Secretary, Ministry of Finance, Mahmoud Isa-Dutse, made the statement on Thursday in Abuja at the monthly meeting of Federal Accounts Allocation Committee (FAAC). Mr. Isa-Dutse, who