November 7, 2024
Headlines

Oil & Gas

The battle for the soul of Transcorp Group continued as Heir Holdings, owned by Nigerian celebrity billionaire Tony Elumelu, announced at the floor of the stock exchange that his firm has acquired a quarter stake in Transcorp.

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HH Capital Limited acquired 9.7 billion units of Transcorp, bringing their total holdings to 25.6% of the company’s total shares. Incredible! Before now, Femi Otedola had acquired the first 5% of the stake in the company belonging to his friend and brother two weeks ago. He went ahead last week to increase his stake by…

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Again, Nigeria’s oil production falls short of OPEC quota by 0.57mbpd

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By Obas Esiedesa Nigeria’s oil production in the month of December 2022 grew by 4.2 per cent month-on-month to 1.23 million barrels per day but remained significantly short of the 1.8 million barrels per day allocated to the country by the Organisation of Petroleum Exporting Countries, OPEC. Latest oil production data released by Nigerian Upstream…

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Clark To Buhari: Probe Military, NNPC’s Involvement In Crude Oil Theft In Niger Delta

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By Ovie Okpare A former Minister of Information, Chief Edwin Clark, has pleaded with President Muhammadu Buhari to urgently constitute a judicial panel to probe the recent discovery of activities of oil theft in the Niger Delta region. Clark, who is the convener of the Pan Niger Delta Forum (PANDEF), also asked the federal government…

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Removing subsidy in 2023 will create crisis for new govt – Senators

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Some Senators have said the National Assembly would resist President Muhammadu Buhari’s proposal to end oil subsidy in June next year. They said discontinuing with the policy in June would create a serious crisis for the new administration that would take over from Buhari. The 2023 – 2025 Medium Term Expenditure Framework and Fiscal Strategy…

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I Have A Comprehensive List Of Those Involved In Illegal Oil Bunkering- Tompolo

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Niger Delta activist, Government Ekpemupolo, populary known as Tompolo had an interview with Channels television where he revealed the reason why the pipeline surveillance contract given to him by the government is very important for his people and Nigeria as a whole. Tompolo said when the surveillance begins and the pipelines are secured Nigeria would…

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Buhari Approves Seplat’s Takeover Of Exxon Mobil Shares

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President Muhammadu Buhari has approved Seplat Energy Offshore Limited’s takeover of the entire share capital of Mobil Producing Nigeria Unlimited (Exxon Mobil). A statement released on the microblogging platform, Twitter, on Monday, by the Presidency confirmed the development, stating that the Nigerian leader authorized the takeover, exercising his power as the Minister of Petroleum Resources. The statement noted…

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NEW NNPC WILL GUARANTEE NATIONAL ENERGY SECURITY, PRESIDENT BUHARI DECLARES AT UNVEILING OF AFRICA’S LARGEST NATIONAL OIL COMPANY

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STATE HOUSE PRESS RELEASE. President Muhammadu Buhari Tuesday in Abuja unveiled the new Nigerian National Petroleum Company Limited (NNPC Limited), affirming that the company is mandated by law to ensure that Nigeria’s National Energy Security is guaranteed. Speaking at the historic occasion at State House Conference Centre, the President said Africa’s largest National Oil Company…

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