RMAFC, EFCC Uncovers Oil Firms’ $205m Unremitted Funds   The Revenue Mobilisation Allocation and Fiscal Commission(RMAFC) has said that it discovered $205.01m unremitted to the federation account by oil and gas companies through joint efforts with the Economic and Financial Crimes Commission(EFCC). It noted that it had...

Oil Firms Pay N138bn Petroleum Tax In June   Four International Oil Companies (IOCs) operating four crude export terminals and a gas feedstock paid N138.749 billion to the Federal Inland Revenue Service (FIRS) as Petroleum Profit Tax, Company Income Tax and Education Tax for June 2022. According...

Oil Firms Get N127bn Fine For Flaring Gas   The Federal Government has fined oil and gas firms operating in the country the sum of $294m, which is about N127bn, for gas flaring. A recent statistics released by the National Oil Spill Detection and Response Agency, NOSDRA,...

Oil Firms Degrade Environment, Spill N711bn Worth Of Crude Oil   Environmental right activists have raised the alarm over the continuous environment degradation as estimation puts total value of oil spilled by operators in the Niger Delta at N711bn. Data obtained from the Nigerian Oil Spill Monitor,...

Oil Firms Not Drilling Except NNPC - Kyari   The Group Managing Director, Nigerian National Petroleum Company Limited, Mele Kyari, on Tuesday announced that the decline in the funding of oil investments had virtually led to a halt in the drilling of crude oil by operators...

Reps Probe 77 Oil Firms Over Unremitted N2.6trn Revenue   The House of Representatives, on Tuesday, commenced investigative hearing on the N2.6tn owed the Federal Government by 77 oil companies operating in Nigeria. The House is acting on the 2019 report of the Nigeria Extractive Industry Transparency...