Crude Oil

Troops of the Nigerian Army have seized about one million litres of crude oil believed to have been stolen from wellheads in Rivers. Brig.-Gen. Eddie Effiong, Commander, 6 Division Garrison, Nigerian Army, Port Harcourt, said this on…
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The House of Representatives Special Committee on Crude Oil Theft and Losses has appealed to the Nigerian Navy to assist it with relevant information to unravel those behind the perennial stealing of the country’s crude oil. Rep.…
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The Minister of State for Defence, Bello Matawalle, has said that the allegations against the Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, will be investigated. Matawalle said that President Bola Tinubu has zero tolerance for…
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With the removal of subsidy on petrol in the country,  the Nigerian National Petroleum Company Limited (NNPC) is set to discontinue crude oil swap in favour of cash payments for petrol imports. To this effect, the company is winding down…
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Angola has now emerged the topmost crude oil producer in Africa, upstaging Nigeria as the latter’s output level hits a new low. The direct communication data in the April 2023 monthly oil market report (MOMR) of the Organization of…
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The House of Representatives, on Wednesday, invited the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami over allegations bothering on the approved payment of the sum of $200 million to two private firms as…
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Nigeria loses at least 700,000 barrels of crude oil to thieves daily, minister of State for Petroleum Resources, Timipre Sylva, said in Effurun, Delta on Saturday. He revealed this at the 2002 graduation of students of Petroleum Training…
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The office of the Auditor General for the Federation (AuGF) has said that the defunct Nigeria National Petroleum Corporation (NNPC), now NNPC Limited, failed to account for about 107,239,436.00 barrels of crude oil lifted for domestic…
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The price of crude oil (Brent) has hit the roof at $100 per barrel in the international market, due mainly to the ongoing Ukraine crisis. The price of oil had been predicted to rise to $100 per barrel because of a sustainable increase in…
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Nigeria has regained the top spot among crude oil producing countries in Africa with the nation’s crude oil production averaging 1.27 million barrels per day in November. The Organisation of Petroleum Exporting Countries (OPEC) made this…
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