National Assembly Summons 17 Oil Companies Over NDDC Debts   The Joint National Assembly Committee on Niger Delta Development Commission on Tuesday summoned 17 oil companies over their alleged N72bn and $273m indebtedness to the agency. The Chairman of the NASS joint panel, Senator Peter Nwaoboshi, issued...

Audit Reveals Non-remittances Of Funds By Oil Companies   The Nigerian Content Development and Monitoring Board (NCDMB) has said a forensic audit it started in November, 2018, has revealed huge amounts of non-remittance to the Nigerian Content Development Fund (NCDF) by oil, gas and service companies...

Oil companies Not Paying Gas Flaring Penalties — Adeosun The Federal Government has accused oil companies of not paying stipulated gas flaring penalties, amounting to loss of revenue in billions of dollars into government coffers. Minister of Finance, Kemi Adeosun, said the companies are taking...

Capital expenditure (Capex) in the oil and gas industry in sub-Saharan Africa has been cut by $100 billion over the next five years, according to Wood Mackenzie’s latest report on upstream activity in the region. The new report revealed that deepwater has suffered the deepest...

Young Oil producers are evacuating workers from the Niger Delta because of deteriorating security situation in Nigeria’s most important oil-producing region, organised labour has said. Chairman of Rivers State chapter of Trade Union Congress, TUC, Mr. Chika Onuegbu, who disclosed this yesterday, said evacuation of...