Tag Archives: Oil

Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Monday, November 18, 2024, convicted and sentenced Fatuyi Yemi Philips, Chairman, Natural Oil and Gas Suppliers Association of Nigeria, NOGASA, to 21 years imprisonment for N43.5m fraud.       The Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on April 5, 2022, arraigned …

The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has claimed that oil cabals in Nigeria are working alongside international oil companies (IOCs) to undermine the operations of private refineries like Dangote Petroleum Refinery.   During his address at the November 2024 Abuja Special Holy Ghost service, Adeboye called on Nigerians to pray for divine intervention …

Journalist, Reuben Abati, has slammed Minister of State for Petroleum, Heineken Lokpobiri, for saying Nigeria is expecting a $50bn investment in the oil sector by December.   While speaking in Abuja on Tuesday, October 8, Lokpobiri said with foreign/local investors’ concerns being addressed, coupled with the “audacious’’ efforts to boost oil production to about 2.7 barrels per day,  Nigeria remains …

Easing fears of a potential Israeli attack on Iran’s oil facilities have sent both oil and global prices sharply lower on Tuesday. However, volatility is likely to persist, with critical economic events later this week. ADVERTISEMENT Both oil and gold prices fell sharply on Tuesday amid potential ceasefire talks between Israel and Hezbollah, the Iran-backed Lebanese military group. Oil futures …

BP has been facing increasing pressure from investors and stakeholders to cut down its green ambitions and to stay within the more profitable fossil fuels sector. Environmental groups are angry. ADVERTISEMENT Oil giant BP is reportedly giving up its target to reduce its oil production in the next five years as part of a change of strategy, more of which …

Troops of 6 Division, Nigerian Army (NA) have remained resolute in the ongoing anti illegal bunkering operations, with tremendous successes resonating across the operational landscape.      Lieutenant Colonel Danjuma Jonah Danjuma, Acting Deputy Director, 6 Division Army Public Relations, disclosed this in a statement on Sunday, October 6, 2024.    In the latest push, troops have effectively deactivated over …

The federal government of Nigeria has officially commenced the sale of crude oil and refined petroleum products in naira, marking a significant shift in the nation’s energy market.    On Saturday, October 6, Wale Edun, Minister of Finance and Coordinating Minister of the Economy, announced that the sale, in line with a directive from the Federal Executive Council (FEC), began …

Social media users have been left in shock after a group of mechanics paid a controversial farewell to their deceased friend by covering his corpse in dirty oil.    The viral video shows the deceased, believed to have been a mechanic, being coated in oil by his friends during the funeral. This act has sparked widespread debate online, with many …

Crude prices spiked due to concerns over a potential major production disruption following Iran’s missile attack on Israel. Analysts believe oil prices could receive an additional boost if geopolitical tensions escalate. ADVERTISEMENT Crude oil prices spiked after Iran launched approximately 200 ballistic missiles at Israel on Tuesday, marking a significant escalation in the Middle East conflict. The attack was in …