Tag: Crude Oil
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Okowa seeks legislative backings to contain crude oil theft
Okowa seeks legislative backings to contain crude oil theft
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Senate faults NNPC over under-remittance of N3.8trn from crude oil sales
The Senate on Wednesday at plenary faulted the Nigerian National Petroleum Corporation (NNPC) over alleged under-remittance of N3.8 trillion revenue from domestic crude oil sales to the Federation Account between January and December 2015. It therefore urged the corporation to desist from further deduction at source, as the practice contravened Section 162(1) of the 1999…
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Despite having crude oil, Niger Deltans treated like slaves – Clark
…insists we must restructure Nigeria …I am not leaving Nigeria for anybody …oil blocs are owned only by northern and Western people …says let’s go back to 1963 constitution …forget constitution amendment …I can’t make a statement on Delta State Frontline Niger Delta elder statesman, Chief Edwin Clark has said Niger Deltans are being treated…
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PIB: Crude oil will soon lose economic relevance in Nigeria – Sylva
…Says FG has no plans to scrap NNPC …We’ll pass it in record time – Lawan …This time we’ll be thorough – Gbajabiamila Minister of State for Petroleum, Timipre Sylva, on Monday said Nigeria’s mainstay, the crude oil would soon become irrelevant as the resource is fast losing its economic value to most countries. The…
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NNPC earns $378.42m from crude oil & gas export in June – Report
The Nigerian National Petroleum Corporation (NNPC) has announced a total crude oil and gas export earnings of $378.42 million in June, as against $133.16 million it posted in May 2020. The corporation disclosed this in its June Monthly Financial and Operations Report (MFOR) released on Sunday in Abuja. It said that the amount signalled a…
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NNPC denies officials sold 48m barrels of stolen crude oil
The Nigerian National Petroleum Corporation (NNPC) on Thursrday denied reports that its officials sold 48 million barrels of stolen crude oil and issued death threats to a whistleblower. It said the publications and television commentaries replicate the content of a letter to NNPC on behalf of SAMANO SA DE CV by its solicitors. NNPC, in…
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Liberalise oil sector, wasting scarce forex on fuel importation won’t help Nigeria, Atiku counsels FG again
Former Vice President of Nigeria and Presidential candidate of the Peoples Democratic Party for the 2019 election, Atiku Abubakar, has again called on the Federal Government to liberalise the nation’s downstream oil sector as the current situation whereby the Nigerian National Petroleum Corporation uses scarce foreign exchange to import fuel at subsidised rates is not…
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BREAKING: Nigeria posts $434.85m crude oil sales amid falling prices
Amid global fall in crude oil price, Nigeria recorded crude oil and gas export sales of $434.85 million in January, 2020, an increase of 94.30 per cent pitched against the December 2019 figures, the Nigerian National Petroleum Corporation’s (NNPC) Monthly Financial and Operations Report, released today, in Abuja has stated. The statement by the corporation’s…
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Nigeria loses 400,000 barrel of crude oil daily – Speaker, Gbajabiamila
Speaker of the House of Representatives, Femi Gbajabiamila said on Tuesday that the nation is losing about 400,000 barrel of crude oil daily to crude oil theft. The Speaker, who said this at a public hearing on crude oil theft, explained that money from crude oil stolen from the country would have been appropriated and…