Ogoni clean up: Oil firms pay 42.1bn into Escrow account
International Oil Companies have so far contributed about $117 million of the expected $200m into the London escrow account of the Standard Chartered Bank for the $1 billion Ogoni clean up.
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Dutch Prosecutors Notify Shell On Nigeria Oil Deal InvestigationShell has confirmed receiving information by Dutch Public Prosecutors office to launch prosecution over its involvement in alleged criminal oil field procurement deal in Nigeria. Shell is facing prosecution in the Netherlands over a licence in Nigeria, intensifying its legal troubles from a transaction that has dogged the oil and gas giant for years. “We […]
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Buhari’s re-election, good omen for Oil, Gas sector – Stakeholders - Vanguard News NigeriaStakeholders in the Nigerian oil and gas sector says the re-election of President Muhammadu Buhari is good omen for the oil and gas sector.
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Mohammed Abacha heads to Appeal Court over Malabu Oil - Vanguard News NigeriaThe son of former Military Head of State, Mohammed Abacha, has dragged the Federal Government, Shell Petroleum Nigeria and others to the Appeal Court as the battle over Malabu Oil rages.
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Oil Prices Step Up As OPEC’s Supply Cut Grips MarketOil prices rose yesterday as markets tightened amid output cuts by producer club OPEC, but surging US supply and a global economic slowdown prevented crude from climbing further. US West Texas Intermediate (WTI) crude oil futures were at $57.45 per barrel up 23 cents, or 0.4 per cent, from their last settlement, while the International […]
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Why Local Content matters in Nigeria’s oil and gas industry- Jeon - Vanguard News NigeriaShipbuilding has two faces like Janus, the Roman god. On the one hand, it is a high-tech, innovative business which demands the best. On the other hand, it requires hard work, and an intense level of human capital. By understanding this dual nature of shipbuilding, we were able to design a local content programme that delivered opportunities to Nigeria, whilst delivering cutting-edge technology.
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'Oil marketers cheat Nigerians by N198,500 per truck of product sold'Director, Weights and Measures Department, Federal Ministry of Industry, Trade and Investment, Mr Mohammed Sidi, says that oil dealers have been cheating
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Oil prices rise on trade deal hopes as OPEC cuts supply - Vanguard News NigeriaOil prices rose on Monday, buoyed by output cuts by OPEC and reports that the United States and China are close to a deal to end a year-long tariff row.
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Defaulting oil marketers forfeit N771million assets to NNPC -Oil marketers who underpaid NNPC for petroleum products supplied to them from the PPMC, Kaduna Depot, have forfeited assets valued at over N771 million.
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Pursue oil exploration in North to logical conclusion - ACF – Daily TrustChairman of the ACF’s board of trustees, Mallam Adamu Fika who led the delegation, urged president Buhari to pursue oil exploration in the North to its logical conclusion. Fika, reminded the president of the request made by the forum in 2016 for execution of Baro Port, the Mambilla Hydro power, revival of the agricultural sector, …
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