In One Month, Nigeria Recovered Stolen Oil Worth N86.2bn   Different government security outfits operating across the country have recovered stolen oil worth N86.2bn in August. A total of 16, 000 litres of diesel valued at N800/litre (N12.8m) were on Monday reported to have been recovered by...

FG Blames Vandalism, Theft, Subsidy As Nigeria’s N9trn Oil Revenue Becomes Threatened Nigeria’s oil production slumped by 28 million barrels between January and July 2022, threatening the Federal Government’s N9.37tn oil and gas revenue target by the end of the year. The Federal Government, in the...

Oil Hits $80 As OPEC+ Okays Another Production Boost     The international oil benchmark, Brent crude, rose to the $80 per barrel mark on Tuesday after the Organisation of the Petroleum Exporting Countries and its Russia-led partners approved another 400,000-barrels-per-day hike in production quotas. Brent, against which...

Obasanjo Tackles Edwin Clark, Says Our Oil Riches Belong To Nigeria, Not Niger Delta   Former President Olusegun Obasanjo yesterday took an exception to Chief Edwin Clark’s reaction to his (Obasanjo’s) insistence that Niger Delta cannot lay claim to the crude oil found in the region. Chief...

NEITI To Digitalise Oil, Gas Audit By December   The Nigeria Extractive Industries Transparency Initiative (NEITI) is set to digitalise and automate its audit data collection process from next month. The NEITI Audit Management System (NAMS) will ensure real time delivery of information and data by the...

Fed Govt Seeks Active Exploration For New Oil, Gas Resources       The Department of Petroleum Resources has said the Federal Government will promote active exploration for new oil and gas resources in the country as it seeks to ramp up reserves to 50 billion barrels. The DPR...