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Allegation malicious –SPDC The last may not have been heard of the disagreement between indigenous oil firm, Aiteo Exploration and Production Company and Shell Production Development Company (SPDC) following allegations of a fresh attack on its corporate identity and that of its Executive Vice Chairman, Mr. Benedict Peters. Aiteo is claiming the loss of over 16 million barrels of crude ...

Lagos State Governor, Mr Bababjide Sanwo-Olu, says the multi-billion dollars investments in Lekki corridor will multiply the state’s Gross Domestic Product (GDP). Sanwo-Olu said this on Friday during a two-day working tour with his cabinet to the three free trade zones established in Ibeju-Lekki area of Lagos. He said that the Lekki Seaport alone had the potentials to dramatically turnaround ...

A total of 143 comprising 100 secondary school teachers and 43 Chief Inspectors of Education (CIE) from Edo and Delta states were proud recipients of Seplat Teachers Empowerment Programme (STEP) Certificates, having concluded their three-month training on the programme. The STEP initiative is an educational programme created by the leading indigenous energy company, Seplat Petroleum Development Company Plc and its ...

The Department of Petroleum Resources, (DPR) Field Office, in Enugu has sealed eight petrol stations in Enugu for dispensing Premium Motor Spirit, PMS, above the approved government pump price. The Head, Operations, Mr Afam Azuike who announced, said the action was in reaction to public outcry over the weekend that petroleum marketers had arbitrarily increased the pump price PMS. On ...

The Nigerian National Petroleum Corporation (NNPC) funded its Joint Venture oil and gas assets, which it holds with mostly multinational oil companies, with a total of N104.7 billion in January. ed. The data from the Corporation showed that NNPC also spent N21. 47 billion on oil search, payments of its monthly on Nigeria-Morocco gas pipeline, among other expenses, bringing the ...

The Director-General of the World Trade Organisation, Dr Ngozi Okonjo-Iweala, says Nigeria would have started producing its own oil if Dangote Refinery had existed years ago. She said this during her visit to the President, Muhammadu Buhari on Monday. According to her, the President/Chief Executive, Dangote Industries Limited, Aliko Dangote, should be supported to build a refinery in the country. ...

Nigerians may pay an increased sum of about N12.61bn every month for the purchase of petrol should the Federal Government implement the N212.61/litre price published by the Petroleum Products Pricing Regulatory Agency on Thursday night. Going by this, users of petrol across the country may need to pay as high as N37.83bn quarterly for the purchase of the commodity if ...

Independent Petroleum Marketers Association of Nigeria, IPMAN, has said that scrapping of Petroleum Equalization Fund (PEF) will ensure full deregulation. They therefore called on the Federal Government to scrap the management and Board of PEF, and in its place make the 21 petrol depots across the country functional and accessible to oil marketers. IPMAN National Publicity Officer, Elder Ukadike Chinedu ...

The Movement for the Survival of the Ogoni People (MOSOP) has rejected the newly constituted Governing Council and Board of Trustees of the Hydro-Carbon Pollution Remediation Project, saying it is lopsided and lacks credibility. MOSOP also issued a 14-day ultimatum to the President, Muhammadu Buhari to reverse the decision in order to enjoy the support of the Ogoni people in ...

The Petroleum Products Pricing Regulatory Agency (PPPRA) has said that there is no increased in the pump price of Premium Motor Spirit (PMS) otherwise known as petrol. The Agency said that it’s attention has been drawn to speculations about the increased pump price of petrol. PPPRA in a statement said that the Guiding Prices posted on its website was only ...