Truth Is Treasure
Italian oil giant, Eni has filed a request for arbitration against Nigeria at the World Bank's dispute settlement body and plans to argue that the country's failure to allow it to exploit an oilfield it acquired with Royal Dutch Shell RDSa.L nearly a decade ago breaches their investment agreement, court
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By Jerome-Mario Utomi While waiting for the independence anniversary broadcast by President Muhammadu Buhari, on Thursday morning October 1, 2020, I stumbled on a statement by Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirate and Ruler of Dubai, where he stated thus:God blessed
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Labour unions in the oil and gas sector have directed their members in Chevron Nigeria Limited to commence a total shut down of the company’s operations following the sack of 600 Nigerian employees and other anti-Labour practices by the management of the company. The Unions, National Union of Petroleum and
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By Mathew Dadiya, Abuja Crude oil prices fell 4.4 per cent to $41.74 per barrel last week propelled by a second wave of COVID-19 cases in Europe. But in a bid to stabilize the nation’s currency, the Naira, the Central Bank of Nigeria (CBN) sold $100 million through the Secondary Market Intervention
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From Joy Okeke, Lagos The Managing Director of Shell Nigeria Exploration and Production Company Limited (SNEPCo), Mr. Bayo Ojulari, has said that companies and Industry players in Nigeria that are ready to explore creativity and collaborate have immense business opportunities in providing quality solutions to the challenges that the oil and
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By Mathew Dadiya, Abuja The Nigerian National Petroleum Corporation (NNPC) has disclosed that it will soon begin activation of Compressed Natural Gas (CNG) refill stations for motorists across the country. The corporation disclosed this in a statement by the Group General Manager Public Affairs Division, Dr Kennie Obateru, in Abuja, yesterday. The CNG
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By Jude Opara, Abuja The federal government has continued to explain why it decided to fully remove subsidy from petrol, assuring that the country will earn about ₦1 trillion annually, which would be channelled to fund other critical components of the nation’s economy. Minister of state for Petroleum Resources, Chief Timipre
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By Gowon Emakpe, Abuja Apart from Malabu Oil, which registered as a consultancy firm, the rest of the companies linked to the fraud and Aliyu Abubakar, were registered to carry out construction activities. Mr Temitope Erinomo, a prosecution witness told a Federal High Court in Abuja, Thursday, how Malabu Oil and
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The Peoples Democratic Party (PDP), has called on the Federal Government to immediately rescind its decision on the increase in the price of petrol to N160 per liter. The party gave the advice in a statement issued by its National Publicity Secretary, Mr Kola Ologbondiyan, in Abuja on Monday. Ologbondiyan said the
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By Mathew Dadiya, Abuja Following reactions by Nigerians from different quarters over the hike in Premium Motor Spirit (PMS) also called petrol, the Presidency has said that petroleum subsidy removal had long been foreseen by successive administrations as game changers in search of solutions to move forward with the nation’s development. Senior
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