Shell to axe 6,500 jobs
Royal Dutch Shell (RDSa.L) says it will axe 6,500 jobs this year and step up spending cuts, to deal with…
DPR suspends marketers selling above pump price
The Department of Petroleum Resources (DPR) says it has suspended direct sales of petroleum products to marketers selling above recommended…
Dangote gets $997m grant for refinery
The United States Trade and Development Agency (USTDA) on Thursday in Lagos announced a grant of 997.4 million dollars (about…
IPMAN demands stoppage of petrol distribution through Capital Oil
Trouble is brewing between Capital Oil and the Independent Petroleum Marketers Association of Nigeria (IPMAN). The Association has appealed to…
$13bn oil stolen under NNPC in four years – NEITI
The Nigeria Extractive Industries Transparency Initiative (NEITI) says about 160 million barrels of crude oil, valued at $13.7bn were stolen…
NNPC repairs damaged Arepo pipeline
The Nigerian National Petroleum Corporation (NNPC) says it has successfully repaired the System 2B Pipeline vandalized on July 21 at…
Port Harcourt, Warri Refineries finally kick-start operations
Port Harcourt and Warri refineries have successfully re-commenced operations after a nine-month phased rehabilitation exercise, the Nigerian National Petroleum Corporation…
BP gets 30 days to make $1bn Deepwater Horizon compensation payment
The New Orleans District Judge Carl J. Barbier has given a 30-day deadline to BP to pay $1 billion in…
JTF nabs suspected pipeline vandals in Delta, Bayelsa
The Joint Task Force in the Niger Delta, Operation Pulo Shield, said it had arrested five suspected sea pirates and…
UAE removes fuel Subsidy
While Nigerians are still debating as to whether fuel subsidy should be removed or not, the United Arab Emirates (UAE),…