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A Norwegian 3 million-barrel-capacity tanker, named MT HEROIC -- with stolen Nigerian crude has been arrested, further giving credence to claims and prior revelations that a major oil theft is going on in Nigeria. On Wednesday, the Nigerian Navy confirmed the arrest of the foreign supertanker in Equatorial Guinea after it fled Nigeria’s AKPO oilfield.…
August 19, 2022
The International Air Transport Association (IATA), Thursday, said that failure to repatriate the $464 million (about N199.2 billion) airlines' funds blocked by the Federal Government, (FG) will harm Nigeria's economy, if not released on time. IATA in a series of tweets on its official Twitter handles @IATA, said this will hurt Nigeria with reduced air…
August 19, 2022
Crude prices opened lower on Friday morning as recession fears persist. As of 9:00 a.m. ET on Friday, WTI Crude was trading below the $90 a barrel mark. Both benchmarks were on track for a weekly loss of over 3.5%. After two days of gains, oil prices turned lower early on Friday, weighed down by…
August 19, 2022
The common, and perhaps, popular narrative for political, baleful and pernicious reasons, is for people to say that the Muhammadu Buhari administration has run down the economy of the country completely since its advent in 2015. The fact that the global economy is spiraling out of control with inflation, stagflation, recession and depression staring hitherto…
August 19, 2022
Nigerians will be able to open an eNaira wallet and conduct transactions by simply using a designated USSD code on any phone as from next week, Nigeria's apex bank has said. This was made known by the Central Bank of Nigeria (CBN) Governor Godwin Emefiele at the Grand Finale of the 2022 eNaira Hackathon in…
August 19, 2022
The Organization of Petroleum Exporting Countries, (OPEC) and its allies (OPEC+), on Wednesday jerked up Nigeria’s oil quota to 1.830 million barrels per day above the current 1.4 mb/day. The new quota will take effect from September 2022, while 1.826 mb/d was approved for August 2022. The announcement comes as prices of many crudes, including…
August 3, 2022
By 'Dotun Akintomide in Lagos-Nigeria and PATRICK MAYOYO in Kenya On the pretext of fishing in international waters, fleets of vessels from China and some European Union countries often cross red lines at sea to trawl African waters and loot the continent's most sought-after fish species. For the countries situated along the African coasts, this…
August 3, 2022
Over 107 countries including Ghana, South Africa, Egypt, Argentina are in the throes of imminent economic collapse due to the wave of financial crisis that has hit the world, a report has sounded the alarm. 25 of the countries are said to be in Africa, 25 in the Asia and 19 in Latin America as…
July 5, 2022
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has awarded Petroleum Prospecting Licences (PPLs) to 161 successful 2020 marginal fields awardees. The commission also officially unveiled the Host Communities Development Regulations and model Petroleum Prospecting Licences (PPLs). Chief Timipre Sylva, the Minister of State Petroleum Resources, at the unveiling and licences presentation on Tuesday in Abuja…
June 29, 2022
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A Norwegian 3 million-barrel-capacity tanker, named MT HEROIC -- with stolen Nigerian crude has been arrested, further giving credence to claims and prior revelations that a major oil theft is going on in Nigeria. On Wednesday, the Nigerian Navy confirmed the arrest of the foreign supertanker in Equatorial Guinea after it fled Nigeria’s AKPO oilfield.…
August 19, 2022
The International Air Transport Association (IATA), Thursday, said that failure to repatriate the $464 million (about N199.2 billion) airlines' funds blocked by the Federal Government, (FG) will harm Nigeria's economy, if not released on time. IATA in a series of tweets on its official Twitter handles @IATA, said this will hurt Nigeria with reduced air…
August 19, 2022
Crude prices opened lower on Friday morning as recession fears persist. As of 9:00 a.m. ET on Friday, WTI Crude was trading below the $90 a barrel mark. Both benchmarks were on track for a weekly loss of over 3.5%. After two days of gains, oil prices turned lower early on Friday, weighed down by…
August 19, 2022
The common, and perhaps, popular narrative for political, baleful and pernicious reasons, is for people to say that the Muhammadu Buhari administration has run down the economy of the country completely since its advent in 2015. The fact that the global economy is spiraling out of control with inflation, stagflation, recession and depression staring hitherto…
August 19, 2022
Nigerians will be able to open an eNaira wallet and conduct transactions by simply using a designated USSD code on any phone as from next week, Nigeria's apex bank has said. This was made known by the Central Bank of Nigeria (CBN) Governor Godwin Emefiele at the Grand Finale of the 2022 eNaira Hackathon in…
August 19, 2022
The Organization of Petroleum Exporting Countries, (OPEC) and its allies (OPEC+), on Wednesday jerked up Nigeria’s oil quota to 1.830 million barrels per day above the current 1.4 mb/day. The new quota will take effect from September 2022, while 1.826 mb/d was approved for August 2022. The announcement comes as prices of many crudes, including…
August 3, 2022
By 'Dotun Akintomide in Lagos-Nigeria and PATRICK MAYOYO in Kenya On the pretext of fishing in international waters, fleets of vessels from China and some European Union countries often cross red lines at sea to trawl African waters and loot the continent's most sought-after fish species. For the countries situated along the African coasts, this…
August 3, 2022
Over 107 countries including Ghana, South Africa, Egypt, Argentina are in the throes of imminent economic collapse due to the wave of financial crisis that has hit the world, a report has sounded the alarm. 25 of the countries are said to be in Africa, 25 in the Asia and 19 in Latin America as…
July 5, 2022
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has awarded Petroleum Prospecting Licences (PPLs) to 161 successful 2020 marginal fields awardees. The commission also officially unveiled the Host Communities Development Regulations and model Petroleum Prospecting Licences (PPLs). Chief Timipre Sylva, the Minister of State Petroleum Resources, at the unveiling and licences presentation on Tuesday in Abuja…
June 29, 2022
