FG Approves N117bn for Oloibiri Research Centre The Federal Executive council has approved N117bn for the construction of the Oloibiri Oil and Gas Museum and Research Center, Bayelsa State. The contract which was awarded to MSSRS Julius Berger Plc, it is expected to be completed in...

PENGASSAN to Clampdown on Marketers Over N650 Petrol Sales The Petroleum and Natural Gas Senior Staff Association of Nigeria, has reported that their findings showed that the price of Premium Motor Spirit, commonly known as petrol, had increased as high as N650/litre in some places. It...

OPEC Says Nigeria’s Oil Output Rises By 4% To 1.235 mb/d   Nigeria’s oil output rose by four per cent month-on-month, MoM, to 1.235 million barrels per day, mb/d in December 2022, from 1.186 mb/d in November 2022. On Year-on-Year, YoY performance, the nation’s oil output also...

Oil Blocs Licensing to End in April, Says FG The Federal Government has announced on Monday that the licensing round for seven deep offshore open oil blocs, which commenced on January 3, 2023, would last for four months. It invited investors from across the world with...

Finally, FG Admits Spending Hugely On Fuel Subsidy   The Federal Government, on Tuesday, said that it had spent so much in subsidising the Premium Motor Spirit, popularly petrol. It was earlier reported that the administration of President Muhammadu Buhari could spend nothing less than N10.976tn as...

IOCs, MOCs Involved in Multi-Billion Dollars Crude Oil Theft - Navy The Nigerian Navy has identified the International Oil Companies (IOCs) and Multinational Oil Companies (MOCs) as syndicates engaged in the crude oil theft ring in the Niger Delta region. It accused the IOCs and MOCs...