crude oil

Now That Oil Has Been Discovered In Northern Nigeria

Now That Oil Has Been Discovered In Northern Nigeria

December 8, 2022 3:18 am

The recent viral news report that the drilling of the black gold – crude oil, which is now ongoing in Northern Nigeria has continued to generate mixed reactions from several sections of Nigerians. If Nigeria was not a country whose unity has been shattered and the faultlines exposed, it should be cheering news that one billion barrel crude oilfield and 500 billion cubic feet of gas reserves were discovered by the Nigerian state.

Given the fact that the product being chased is the blood that fuels the Nigerian economy and one of the biggest sources of revenue for the …

Oil Theft Gunmen Attack Tompolo’s Speedboat In Bayelsa

Oil Theft: Gunmen Attack Tompolo’s Speedboat In Bayelsa

November 6, 2022 2:21 am

Unknown gunmen on Saturday launched an attack on Tompolo’s Pipeline Surveillance boat, Tantita, assigned to Tuomo Unit and headed by the traditional prime minister of Tuomo Kingdom in Delta State, High Chief Mike Loyibo, and reportedly carted away with its 200 horsepower engine.

Africa Daily News, New York reports that Tantita is the company that recently won a multi-billion contract to protect crude oil pipelines in the Niger Delta against oil thieves and led by a former militant leader, Government Ekpenupolo, aka Tompolo.

Saturday’s attack reportedly happened at Aleibiri community in Ekeremor Local Government Area of Bayelsa State, a few …

Biden Vows To Deal With Saudi Arabia After Oil Output Cuts

Biden Vows To Deal With Saudi Arabia After Oil Output Cuts

October 13, 2022 7:03 am

The President of the United States, Joe Biden has sent out a very stern warning to Saudi Arabia that there will be ‘consequences’ after a global cartel of oil-producing countries which is led by the kingdom and Russia announced that they would cut oil production despite Washington’s objections.

While making his remarks on Tuesday come a day after influential Democratic Senator Bob Menendez, the chairman of the Senate Foreign Relations Committee, said the US must immediately freeze all cooperation with Saudi Arabia, including arms sales.

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‘There’s going to be some consequences for what they’ve done with Russia,’ …

Oil Thieves Are Nigeria’s Biggest Enemies – Senate President

Oil Thieves Are Nigeria’s Biggest Enemies – Senate President

October 8, 2022 6:52 am

The President of the Nigerian Senate, Ahmad Lawan has decried oil theft in Nigeria, describing perpetrators as the country’s ‘biggest enemies’. 

The lawmaker said this on Friday during the presentation of the 2023 budget proposal at the National Assembly.

‘Mr. President, I consider the oil thieves the worst enemies of our country. The thieves have declared war on our country and our people,’ he said.

‘I strongly feel that if we do not take the necessary measures to stop the thieves immediately, our economy will be devastated, as efforts to provide infrastructure and diversification of the economy would both be …

Nigerian Govt Declares War On Pipeline Vandals, Oil Thieves

Nigerian Govt Declares War On Pipeline Vandals, Oil Thieves

August 31, 2022 5:18 am

The federal government of Nigeria has pledged to bring down its might on vandals and oil thieves who are sabotaging the country’s economy.

The Minister of Interior, Mr. Rauf Aregbesola, made this known while speaking at the inauguration of eight gunboats acquired for use by the Nigeria Security and Civil Defence Corps (NSCDC) in Port Harcourt, Rivers State, just as he charged the security forces to collaborate to end the scourge.

He said: ‘Those who steal crude oil not only deny the country of the much needed revenue, they sell the stolen goods at discounted prices, well below the market …

How Nigeria Loses Over N100bn Worth Of Oil - OPEC

How Nigeria Loses Over ₦100bn Worth Of Oil – OPEC

August 12, 2022 6:03 am

Nigeria’s crude oil production plunged by 2.3 million barrels in July 2022 when compared to what the country produced in the preceding month of June, data from the Organisation of Petroleum Exporting Countries (OPEC) showed on Thursday.

Africa Daily News, New York reports that in its Monthly Oil Market Report which was released for August 2022, OPEC revealed that crude oil production figures based on direct communication indicated that Nigeria’s output dropped by an average of 74,000 barrels per day in July.

This implies that for the 31 days in July, the country lost about 2.3 million barrels of crude …

Crude Oil Theft FG Chasing Shadows – Siasia

Crude Oil Theft: FG Chasing Shadows – Siasia

August 11, 2022 4:04 am
In an effort to combat the menace of crude oil theft in Nigeria’s oil-rich Niger Delta Region, Mr. Moses Siloko Siasia, Chairman of the Nigerian Young Professionals Forum (NYPF) and Convener of Niger Delta Young Professionals, has claimed that the Nigerian government is running in circles.
Governors in the Niger Delta, according to him, have overlooked an essential component of ‘human infrastructure’ development, They instead are concentrating on creating public infrastructure, which may not necessarily have an influence on the lives of numerous adolescents in the area.
He
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Why Modular Refineries In Nigeria Can’t Refine Fuel – NNPC

Why Modular Refineries In Nigeria Can’t Refine Fuel – NNPC

March 3, 2022 4:29 am

The Nigerian National Petroleum Company Limited has explained that one of the major reasons why modular refineries in Nigeria were not producing Premium Motor Spirit (PMS), popularly known as petrol, was because of the regulated pump price of PMS by government.

A modular refinery is a simplified refinery that requires significantly less capital investment than traditional full-scale refineries. They are crude oil processing facilities with capacities of up to 30,000 barrels per day.

Nigeria which is a major oil producer in Africa has a number of modular refineries located in Edo, Delta, Imo and other states, while plans are on …

Soaring Oil Price Great Opportunity For Nigeria - Buhari

Soaring Oil Price, Great Opportunity For Nigeria – Buhari

March 2, 2022 5:00 am

As crude oil prices continue to soar above $100 per barrel, the President of Nigeria, Muhammadu Buhari has declared that there wouldn’t be any excuse for Nigeria not to reap the gains, especially with the current Petroleum Industry Act (PIA).

Africa Daily News, New York reports that was coming at a time when petrol scarcity has worsened as marketers increase the price above the N165 approved rate.

Buhari made the comments on Monday at the opening ceremony of the 5th edition of the Nigeria International Energy Summit (NIES 2022) at the State House Abuja.

He said, ‘Crude oil …

How Nigerian Govt Officials Hijacked And Sold 48m Barrels Of Crude

How Nigerian Govt Officials Hijacked And Sold 48m Barrels Of Crude

July 29, 2020 4:59 pm

In a series of fresh reports of allegations against the Nigerian National Petroleum Corporation (NNPC) and some top Nigerian government officials, it has been revealed that 48 million barrels of crude oil were diverted and sold by some undersigned officials of the NNPC in collaboration with some senior officials of the Buhari administration.

In the uncovered Nigerian oil heist, Africa Daily News, New York gathered that a Mexican oil company, Samano Sa Da CV opened up about the fraudulent oil sale when they encountered various ‘black market dealers’ overseeing millions of Oil barrels stored in different oil port locations in …

Airlines In Nigeria, Most Dangerous To Fly – Sen. Adeyemi

I Pity President Buhari – Senator Smart Adeyemi

May 29, 2020 5:25 am
The Senator representing Kogi West, Smart Adeyemi, has said he feels pity for President Muhammadu Buhari, because of the crashing prices of crude oil.

Adeyemi made this comment, while contributing to a debate on the revised 2020 budget on the floor of the Senate on Thursday.

According to the lawmaker, when Nigeria sold crude oil at a higher rate, previous administrations refused to diversify the economy.

Read Also: President Buhari Hails Minister, Rotimi Amaechi On 55th Birthday

“When we were asking the government of the day at that time, to diversify the economy. At the time oil was selling at

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Trump Mulls Stopping Saudi Oil Shipments As Prices Plunge

Trump Mulls Stopping Saudi Oil Shipments As Prices Plunge

April 21, 2020 6:40 am

U.S. President Donald Trump said on Monday that his administration was looking at the possibility of stopping incoming Saudi Arabian crude oil shipments to support the battered domestic drilling industry.

The Saudis are shipping 600,000 barrels of crude to the U.S.

“Well, I’ll look at it,” Trump told reporters at a daily news conference after he was asked about requests by some Republican lawmakers to block the shipments under his executive authority.

“I heard just as I’m walking into the room. We certainly have plenty of oil, so I’ll take a look at it.”

Read Also: Trump Under Fire Over
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