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Petrobarometer

    Reps probe NNPC over ‘$1bn illegal withdrawal’ from NLNG account

Reps probe NNPC over ‘$1bn illegal withdrawal’ from NLNG account

The house of representatives has resolved to investigate the Nigerian National Petroleum Corporation (NNPC) for "illegal withdrawals" from the Nigerian Liquefied Natural Gas Limited (NLNG) account. At Tuesday’s plenary session, the green chamber accused the NNPC management of illegally withdrawing up to $1 billion from NLNG funds without due process. The resolution followed a motion from Ndudi Elumelu, minority leader, who said [...]

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    Oil prices drop as US COVID-19 cases surge raise demand concerns

Oil prices drop as US COVID-19 cases surge raise demand concerns

Oil prices fell on Tuesday, erasing earlier gains, on fears that the recent spike in confirmed COVID-19 cases in the US could affect the recovery in oil demand. US West Texas Intermediate (WTI) crude futures dropped 0.64 percent to $40.37 per barrel, while Brent crude futures fell to $42.92 (0.42 percent).   [...]

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    NEITI wants ECA funds moved to NSIA as part of economic reform

NEITI wants ECA funds moved to NSIA as part of economic reform

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    Atlas Petroleum resumes development of OML 109

Atlas Petroleum resumes development of OML 109

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    ‘They first said I stole $801m… they’ve reduced it to N200m’ — Adoke attacks Italian prosecutors

‘They first said I stole $801m… they’ve reduced it to N200m’ — Adoke attacks Italian prosecutors

Mohammed Bello Adoke, former attorney-general of the federation, has described as "evil and despicable" claims by Italian prosecutors, led by Fabio De Pasquale (pictured), that he benefited N200 million "in kind" from the OPL 245/Malabu deal of 2011. Sergio Spadaro, the Italian deputy prosecutor, had told a Milan court on Thursday that Adoke bought a property worth N500 million for only N300 [...]

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    Top management staff affected in NNPC shake-up

Top management staff affected in NNPC shake-up

The Nigerian National Petroleum Corporation (NNPC) has announced new appointments and redeployments among its top managerial level. [...]

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    EFCC denies dropping Adoke from key OPL 245 case — despite evidence

EFCC denies dropping Adoke from key OPL 245 case — despite evidence

The Economic and Financial Crimes Commission (EFCC) has denied dropping Mohammed Bello Adoke from a key OPL 245 case -- despite evidence to the contrary. In the original case filed on December 21, 2016 with suit no FHC/ABJ/CR/268/2016, the name of the former attorney-general of the federation was No. 3 on the charge sheet. However, when the defendants were arraigned on July [...]

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    EFCC drops Adoke from key OPL 245 case, files fresh charges against Malabu

EFCC drops Adoke from key OPL 245 case, files fresh charges against Malabu

The Economic and Financial Crimes Commission (EFCC) has arraigned Malabu Oil and Gas Limited on fresh charges of money laundering in the OPL 245 deal of 2011. Malabu, alongside Aliyu Abubakar, a businessman, and six other companies were arraigned on a 48-count charge before Iyang Ekwo, judge of a federal high court in Abuja. The companies listed in the charge are: A-Group [...]

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    Report: Nigeria’s imported petrol dirtier than illegally refined in Niger Delta

Report: Nigeria’s imported petrol dirtier than illegally refined in Niger Delta

A new report published by Stakeholder Democracy Network (SDN), an international resource watchdog group, says refined petroleum products imported into Nigeria contain more pollutants than those refined by black market operators in the Niger Delta. The organisation said it carried out laboratory analysis of fuel samples collected from 45 government-licensed filling stations and unofficial (46) fuel selling points in Lagos, Rivers [...]

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    Buhari: AKK project will revive moribund industries, lead to new ones

Buhari: AKK project will revive moribund industries, lead to new ones

President Muhammadu Buhari says the 614km Ajaokuta-Kaduna-Kano (AKK) gas pipeline, when completed, will lead to the revival of moribund industries and the development of new ones. [...]

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    Buhari to flag off construction of 614km AKK gas pipeline — 12 years after its conception

Buhari to flag off construction of 614km AKK gas pipeline — 12 years after its conception

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    FG moves to make price of cooking gas affordable for Nigerians

FG moves to make price of cooking gas affordable for Nigerians

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    ‘Pledge fulfilled’ — NEITI commends NNPC for publishing audited results

‘Pledge fulfilled’ — NEITI commends NNPC for publishing audited results

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    NNPC publishes audited financial results — first time in 43 years

NNPC publishes audited financial results — first time in 43 years

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    Kyari: NNPC to build 200,000bpd-capacity condensate refinery

Kyari: NNPC to build 200,000bpd-capacity condensate refinery

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    FG extends registration deadline for marginal field bid round to June 21

FG extends registration deadline for marginal field bid round to June 21

The Department of Petroleum Resources (DPR) has extended the registration deadline for the marginal oil fields bids by one week. [...]

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