Experts at an energy research group, Rystad Energy, have predicted that there will be a substantial build of global crude stocks and a corresponding drop in oil prices if the Organisation of Petroleum Exporting Countries fails to deepen production cuts in 2020. OPEC and its allies, including Russia, will gather in Vienna, Austria, on Thursday […]
A Federal High Court in Lagos on Wednesday adjourned until Feb. 13, 2020, trial of the Chairman of Capital Oil and Gas Ltd., Dr Ifeanyi Ubah, charged with fraud. The Federal Government brought the charge before Justice Nicholas Oweibo. The News Agency of Nigeria (NAN) reports that Capital Oil and Gas is named as the […]
A VLCC was hijacked Tuesday evening close to the Egina FPSO, off the coast of Nigeria, with 19 members of the crew kidnapped, the vessel’s owner Navios Tankers confirmed Wednesday. The Nave Constellation, a Hong Kong-flagged, 296,988 dwt crude oil tanker, was boarded as it was preparing for departure after loading at Bonny Island — […]
The Integrated Personnel Payroll Integrated System says the Central Bank of Nigeria, the Nigerian National Petroleum Corporation, the Federal Inland Revenue Service and a few other agencies are not on their platform because these agencies are revenue-generating entities. IPPIS further stated that these agencies do not draw their funding from the consolidated revenue account but […]
The National Union of Road Transport Workers, NURTW, has said that the presidential task force set up to clear the gridlock in Apapa cannot achieve the task, adding that they have failed. This is even as the union warned that unless urgent steps are taken, some bridges in Lagos would soon collapse following the constant […]
Nigeria’s anti-corruption agency says it has arrested 23 people undergoing training in internet fraud scams in a remote village in the south of the country. The Economic and Financial Crimes Commission (EFCC) says the suspects – aged between 19 and 35 – were being trained on how to carry out romance and trading scams, as […]
There was confusion on Tuesday over the Federal Government’s remodeling of grazing reserves in seven states into ranches. The News Agency of Nigeria reported that the Executive Secretary, National Commission for Nomadic Education, Prof. Bashir Usman, in Zaria, Kaduna State, on Tuesday, said the remodeling of grazing reserves into ranches was part of efforts to […]
President Donald Trump has expressed delight at his portrait drawn by a Nigerian-born artist, creative_doks. The artist had tweeted the American president’s portrait via his Twitter handle @Doks_Art on Sunday. The artist did not hide his ambition: “This is my second portrait of President Trump. This time, I really want him to see it,” he […]
Oil producers from the Organization of the Petroleum Exporting Countries (OPEC) are unlikely to agree to change their current deal on curbing output until the market outlook becomes clearer, a senior official at the International Energy Agency (IEA) said on Tuesday. “OPEC is quite likely to do what it has often done in the past: […]
Bukola Saraki, former senate president, says the order given for the forfeiture of his property in Ilorin, Kwara state capital, is an abuse of the court process and a violation of a subsisting order of the federal high court in Abuja. A federal high court in Lagos had ordered the forfeiture of two houses of […]