Top Stories

The people of Letugbene, Ekeremor Local Government Area, Bayelsa State have shut down a drilling rig belonging to Shell Petroleum Development Company, (SPDC), alleging the company’s failure to accord them recognition as the rightful owners of the land where Tunu flow station is located. The people who ordered work to stop at the oil rig of the Specialty Drilling Fluids ...

by Musa Ibrahim……………….. The Head office of the Nigerian Content Development Monitoring Board (NCDMB) is to be inaugurated by President Muhammedu Buhari virtually on Thursday this week. 17-storey headquarters of NCDMB is located at Swali, Yenagoa, in Bayelsa State. According to the state from the board’s management over the weekend in Abuja the president would perform the ceremony virtually, after ...

by James Ikenna……………… Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has directed their members to withdraw their services Monday 10th, August, 2020 following the unresolved issues of congesting the Apapa roads coupled with the daily harassment and extortion by security agent. In a statement signed by NUPENG President, Williams Aporeha and the General Secretary, Taiwo Afolabi, the group ...

The world has approved $114.28 million financing to help Nigeria prevent, detect and respond to the threat posed by COVID-19 with specific focus on state level responses. According to a statement from the bank on Friday, August 7, 2020, the amount includes $100 million credit from the International Development Association (IDA) and $14.28 million grant from the Pandemic Emergency Financing ...

by Ben Ndubuwa…………. ExxonMobil has appointed Richard Laing as the new Chairman and Managing Director for it’s Nigerian operations. These operations include the running of Mobil Producing Nigeria Unlimited, Esso Exploration and Production Nigeria Limited, and Esso Exploration and Production Nigeria (Offshore East). The appointment of Laing is effective from August 1, 2020 and he replaces Paul McGrath, who has ...

by Musa Ibrahim…………… National Petroleum Corporation (NNPC), said it has signed a Head of terms (HoT) agreement with China National Offshore Oil Corporation(CNOOC) and an indigenous oil production firm —South Atlantic Petroleum (SAPETRO). NNPC noted that this pact is signifying a major milestone towards the resolution of all disputes related to Oil Mining Lease (OML)130 Production Sharing Contract. OML 130 ...

The fresh equity capital injection is coming on the heels of FBN Holdings’ recent divestment from FBN Insurance. The N25 billion worth of equity capital has been injected into First Bank of Nigeria Limited by its parent company, FBN Holdings Plc. The move is coming on the heels of FBN Holdings’ recent divestment from FBN Insurance Ltd. A statement signed ...

by Abisoye Shola…………… There are strong indications that International Maritime Organisation (IMO) may start cracking down on ships using Liquefied Natural Gas (LNG) as fuel. According to a recent study by IMO LNG methane emissions from shipping transportation is more dangerous to health compared to carbon dioxide emissions from other Fossil fuel. The study showed that methane emissions from ships ...

The Nigerian National Petroleum Corporation (NNPC) has earned N2.393.88 trillion from the sales of petroleum products from May 2019 to May 2020. This is contained in the Corporation’s May 2020 Monthly Financial and Operations Report (MFOR) released on Wednesday, NNPC said 98.84 per cent of the sales with N2.366.15tn came from sales of Premium Motor Spirit (PMS) or petrol. The ...

In a bid to support local capacity and encourage Nigerian content, Oilserv Group of Companies has placed an order worth N600 million for the purchase of vehicles from Innoson Vehicle Manufacturing, IVM, Company, for it’s official and operational use. The Chairman/ Group CEO of Oilserv Group, Dr. Emeka Okwuosa, during a tour of the IVM manufacturing plant in Nnewi, Anambra ...