A police officer has died and 79 others taken hostage during protests in Colombia’s southern Caquetá province. Violence erupted on Thursday after residents blockaded the compound of the oil exploration company Emerald Energy. They were demanding its help to repair…
3 years after crude oil discovery in North, Buhari flags off drilling tomorrow
Three years after the Nigerian National Petroleum Company (NNPC) Ltd discovered crude oil in commercial quantity in Northern Nigeria, President Muhammadu Buhari will tomorrow officially flag off the ground-breaking ceremony of the Kolmani OPLs 809 and 810 at the Kolmani…
Brent crude hits $85.62/barrel
The Nigerian National Petroleum Corporation (NNPC) on Monday said Brent crude sold $85.62 per barrel. According to the report, the crude gained $0.76, indicating 0.90%. A Reuters report attributed the rising price to soaring demand following the recovery from the…
China’s investment in Nigeria’s oil sector hits $16bn (ThisDay)
China has invested up to $16 billion in Nigeria’s oil industry, mostly upstream, over the last 14 years through its state oil firm, the China National Offshore Oil Corporation (CNOOC), the Executive Vice President of the company, Mr. Lu Yan…
Nigeria lost $2.8bn to oil-related crimes in 2018 —UN report (Punch)
The United Nations says Nigeria lost an estimated 2.8 billion dollars in revenues in 2018, mainly due to oil-related crimes. This is according to a new ‘Report by the Secretary-General on the activities of the United Nations Office for West…
Oil marketers suspend planned strike, oppose part payments (Guardian)
11 December 2018 The Depot and Petroleum Products Marketers Association (DAPPMA) has suspended its planned shutdown of depots nationwide. The decision was contained in a statement issued yesterday in Lagos by the association’s Executive Secretary, Olufemi Adewole. The oil marketers…
Trump will grant 8 waivers to buy Iranian oil, allowing imports beyond US sanctions deadline (CNBC)
The Trump administration will grant eight jurisdictions special exceptions to continue importing oil from Iran after U.S. sanctions on the country snap back into place on Monday, according to cabinet members. President Donald Trump gave oil buyers 180 days to…
NSCDC recovers 200 drums of crude oil, navy seizes truckloads of diesel (Punch)
The Cross River State command of the Nigeria Security and Civil Defence Corps on Wednesday arrested seven suspected oil thieves with over 200 drums of adulterated crude worth over N10m. The state Commandant of the NSCDC, Mr Stephen Lar, at…
