Tag: Oil
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Two k!lled, oil refinery on fire after drone attacks
Multiple air attacks on the Russian border region of Belgorod adjoining Ukraine on Saturday killed two people and injured at least seven, the governor said. Further east, an overnight drone attack on the Samara region caused a fire at a major oil refinery, the latest in a series of strikes against Russia’s fuel industry. Belgorod…
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Adopt Tompolo’s template to combat oil theft, Funkekeme Solomon advises FG
The Senior Policy Adviser to the Governor of Delta State, Rt. Hon. Funkekeme Solomon, has urged the Federal Government to adopt the strategies used by Chief Government Ekpemupolo, also known as Tompolo, in effectively combating crude oil theft in the Niger Delta region. Commending Tompolo on the success he recorded in curbing the activities of…
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No int’l oil firm left Nigeria – Lokpobiri
The Federal Government said on Tuesday that none of the International Oil Companies (IOCs) doing business in Nigeria has left as against insinuations. Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, gave the clarifications
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Oil theft: N’Delta, stakeholders call for probe of Rear Admiral Babalola
The Niger Delta Stakeholders Forum, NDSF, has called for the probe of former Flag Officer Commanding, Eastern Naval Command of the Nigerian Navy, Rear Admiral Henry Babalola (rtd) for allegedly aiding oil thieves during his years in service. The forum said “illegal crude mining thrived, expanded and even grew in leaps and bound” under Rear…
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2024: FG announces plans to conduct fresh oil licensing
The Nigerian government says it has concluded plans to conduct a fresh round of oil licensing in 2024 to attract new investors and increase investment, ultimately raising Nigeria’s oil reserves toward 40 billion barrels from the present 37 billion barrels.
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We’ll account for oil revenue – Finance Minister
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says the administration of President Bola Tinubu will account for revenue from oil. Edun said this when he appeared before the House of Representatives Committee
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Massive organisational shake up in NNPCL as staff with less than 2yrs service fired
There’s massive organisational shake up ongoing in the Nigerian National Petroleum Corporation Limited has announced retirement of staff that have less than 2years in service to exit. This was contained in a statement on Tuesday signed by its management, the NNPC Limited
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Oil marketer identifies permanent solution to hike in fuel prices
Following the incessant increase in the pump price of fuel in the country, the Chief Executive Officer of Emadeb Energy Service Limited, Debo Olujimi, says that local refining of the product remains the only lasting solution to the price surge. The pump price of fuel has been increased twice in the last two months and…
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OPEC expresses optimism on oil demand growth in 2024
The Organisation of Petroleum Exporting Countries (OPEC), has expressed optimism in oil demand growth in 2024 despite the current market slowdown. According to sources close to OPEC, the body will likely maintain an upbeat view on oil demand growth for next year by the time it publishes its first outlook later this month, predicting a…
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Court declines Mobil’s plea for an order stopping NMDPRA’s sanction
A Federal High Court, Abuja, on Tuesday, refused to grant Mobil Producing Nigeria Unlimited’s prayer for an order restraining the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) from imposing any sanction on it. The sanction in respect of its operations in Oil Mining Leases 67,68,70 and 104 pending the hearing and determination