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Oil major, Exxon Mobil, is planning to sell a suite of oil and gas fields in Nigeria as it focuses on new developments in the United States (U.S.) shale and Guyana, industry and banking sources have said. The potential disposals are expected to include stakes in onshore and offshore fields and could raise up to…
April 3, 2019
The Nigerian Content Development and Monitoring Board (NCDMB) says the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010, has brought tremendous transformation in the sector and is expected to attract $25 billion (N9 trillion) investment in the next two years. Mr Simbi Wabote, the Executive Secretary, NCDMBmade the assertion…
March 8, 2019
Oil prices fell by more than 1 percent on Monday as U.S. drilling activity picked up, even as a refinery fire in the U.S. state of Illinois resulted in the shutdown of a large crude distillation unit. U.S. West Texas Intermediate (WTI) crude futures were at $51.92 per barrel at 0144 GMT, down 80 cents,…
February 11, 2019
In the first part of these investigative series, The New Diplomat chronicled how derelict power projects have continued to postpone prosperity in rural Nigeria with its deleterious effects on the socio-economic activities of the rural households who account for almost half of the Nigeria's ballooning demography. This concluding part further exposes the culpability of the…
January 8, 2019
To Yahaya Masani, living in darkness has a different meaning. Not for the hysterical noise: Up NEPA! --An age-long euphoria which often greets the restoration of public power supply in Nigeria; he wasn't craving for much of the comfort that comes with appliances and gadgets his city counterparts manage to enjoy, notwithstanding the irregular…
December 28, 2018
The price of crude oil, yesterday, dropped to $50.00, showing $10 below Nigeria’s $60 per barrel 2019 budget benchmark in the volatile global market. The price of Brent, West Texas Intermediate, WTI, and Organisation of Petroleum Exporting Countries, OPEC, basket of 15 crudes stood at $50.00, $45.00 and $53.92 per barrel respectively. Traders attributed the…
December 27, 2018
Materials in a suitcase seized nearly three years ago by Swiss authorities may unlock the identities of the Nigerian recipients of the $1.1billion in corrupt payments by Shell and ENI over the purchase of OPL 245 from Malabu Oil. A Geneva prosecutor is now reviewing the materials and will decide what can be shared with…
December 22, 2018
The Depot and Petroleum Products Marketers Association (DAPPMA) has suspended its planned shutdown of depots across the country from loading petroleum products effective from 12-midnight on Sunday, Dec. 9. The suspension directive was conveyed in a statement issued by DAPPMA Executive Secretary, Mr Olufemi Adewole, at about 1.20 a.m. on Monday in Lagos and made…
December 10, 2018
Gov. Ifeanyi Okowa of Delta on Monday called on the Federal Government to put stringent measures in place to end gas flaring in the country. Okowa made the call when Course 41 of the Armed Forces Command and Staff College, Jaji, led by Major-Gen. Felix Edafioghor in Asaba came to his office on a courtesy…
November 26, 2018
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Oil major, Exxon Mobil, is planning to sell a suite of oil and gas fields in Nigeria as it focuses on new developments in the United States (U.S.) shale and Guyana, industry and banking sources have said. The potential disposals are expected to include stakes in onshore and offshore fields and could raise up to…
April 3, 2019
The Nigerian Content Development and Monitoring Board (NCDMB) says the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010, has brought tremendous transformation in the sector and is expected to attract $25 billion (N9 trillion) investment in the next two years. Mr Simbi Wabote, the Executive Secretary, NCDMBmade the assertion…
March 8, 2019
Oil prices fell by more than 1 percent on Monday as U.S. drilling activity picked up, even as a refinery fire in the U.S. state of Illinois resulted in the shutdown of a large crude distillation unit. U.S. West Texas Intermediate (WTI) crude futures were at $51.92 per barrel at 0144 GMT, down 80 cents,…
February 11, 2019
In the first part of these investigative series, The New Diplomat chronicled how derelict power projects have continued to postpone prosperity in rural Nigeria with its deleterious effects on the socio-economic activities of the rural households who account for almost half of the Nigeria's ballooning demography. This concluding part further exposes the culpability of the…
January 8, 2019
To Yahaya Masani, living in darkness has a different meaning. Not for the hysterical noise: Up NEPA! --An age-long euphoria which often greets the restoration of public power supply in Nigeria; he wasn't craving for much of the comfort that comes with appliances and gadgets his city counterparts manage to enjoy, notwithstanding the irregular…
December 28, 2018
The price of crude oil, yesterday, dropped to $50.00, showing $10 below Nigeria’s $60 per barrel 2019 budget benchmark in the volatile global market. The price of Brent, West Texas Intermediate, WTI, and Organisation of Petroleum Exporting Countries, OPEC, basket of 15 crudes stood at $50.00, $45.00 and $53.92 per barrel respectively. Traders attributed the…
December 27, 2018
Materials in a suitcase seized nearly three years ago by Swiss authorities may unlock the identities of the Nigerian recipients of the $1.1billion in corrupt payments by Shell and ENI over the purchase of OPL 245 from Malabu Oil. A Geneva prosecutor is now reviewing the materials and will decide what can be shared with…
December 22, 2018
The Depot and Petroleum Products Marketers Association (DAPPMA) has suspended its planned shutdown of depots across the country from loading petroleum products effective from 12-midnight on Sunday, Dec. 9. The suspension directive was conveyed in a statement issued by DAPPMA Executive Secretary, Mr Olufemi Adewole, at about 1.20 a.m. on Monday in Lagos and made…
December 10, 2018
Gov. Ifeanyi Okowa of Delta on Monday called on the Federal Government to put stringent measures in place to end gas flaring in the country. Okowa made the call when Course 41 of the Armed Forces Command and Staff College, Jaji, led by Major-Gen. Felix Edafioghor in Asaba came to his office on a courtesy…
November 26, 2018
