“The vessel was loaded” – 3 Ghanaians, 9 Nigerians arrested by navy over alleged crude oil theft

by Tutu Akinlabi 12 persons have been arrested by operatives of the Nigerian Navy over allegations of crude oil theft. The Central Naval Command said yesterday that it had seized an oil vessel, MT Frankesen, and arrested the suspects along the Akassa waterways in Brass Local Government Area of Bayelsa State. The occupants of the... Read More

crude oil, Ghanaians, Nigerian Navy, nigerians, Theft

September 30, 2013

BUSTED: Navy arrests 5 foreigners for smuggling petroleum products (PICTURED)

by Tutu Akinlabi The Nigerian Navy Task Force in Badagry area of Lagos State has apprehended five foreigners whose specialty was illegally conveying petroleum products from pipeline vandals in Nigeria across the Seme border. The suspects, four Beninoise teenagers and a 50-year-old Ghanaian, were caught in the act while transporting 113 50-litre jerrycans filled with... Read More

Benin Republic, bunkering, crude oil, foreigners, petroleum products, Seme

September 26, 2013

Opinion: Oil theft – Now that Chatham House has vindicated the Ribadu Report

by Abdulaziz Abdulaziz The question is, now that Chatham House has vindicated Ribadu, will the Federal Government eat the humble pie to now act on the Ribadu Report to save Nigeria from this dire strait? The London-based independent think tank, Chatham House, has just released a damning report on the thriving oil theft in the... Read More

Chatham House report, crude oil, FAAC, Finance, nigeria, nuhu ribadu, report, Theft

September 21, 2013

Dele Momodu: Before the next elections begin

by Dele Momodu The sad reality is that no political party has been totally immune from the brigandage that has clearly taken over and engulfed our political existence. Human lives have become meaningless and without value in our nation. We don’t know at what stage Lucifer crept in like a thief in the night and... Read More

crude oil, Dele Momodu, elections, lucifer, nations, political party, president

August 24, 2013

Crude oil theft: 5 suspects arrested as JTF destroys 48 illegal refineries in the Niger Delta

by ‘Jola Sotubo In a major crackdown against oil thieves, the men of the Joint Task Force, code-named Operation Pulo Shield, have successfully put an end to illegal crude refining in 48 camps in the Niger Delta. The 48 illegal refineries were destroyed and several boats used by the oil thieves in their operations were... Read More

crude oil, JTF, Niger Delta, oil thieves

July 22, 2013

Stolen crude: Europe set to ban Nigerian oil, seeks certificate of origin before purchase

by Rachel Ogbu There are reports that the European Parliament is prepared to stop the purchase of stolen oil from Nigeria in Europe. According to reports, any crude oil meant to be sold in the European market is now to be accompanied with a certificate of origin. Acting Co- President African, Caribbean, Pacific Parliaments- European... Read More

African, Caribbean, certificate of origin, crude oil, European market, Pacific Parliaments- European Union, stolen oil

July 6, 2013

BREAKING: Canadian town center ‘wiped out’ as freight train carrying crude oil explodes (PHOTOS)

The center of a Quebec town has been wiped out, according to the mayor, after a freight train carrying crude oil derailed and exploded in a fireball at 1am on Saturday. About 30 buildings were destroyed and 60 people are believed to be missing, but the force of the fire has prevented rescue workers from... Read More

Canada, crude oil, explosion, Gregory Gomez, Quebec, Stephen Harper, Train

May 8, 2013

Dangote secures $4.25bn loan to build refinery in Nigeria

by Isi Esene The Chairman of the Dangote Group, Aliko Dangote has disclosed that his company has secured loans worth $4.25bn from banks to build an oil refinery to help the country reduce fuel imports. Dangote said this at the World Economic Forum on Africa in Cape Town, South Africa. According to Dangote, who is... Read More

africa, aliko dangote, crude oil, nigeria, south africa, WEF

November 10, 2012

Temie Giwa: The kabal and their overlord (YNaija FrontPage)

I have news for Mr. President; the Nigerian people do not find these findings “incomplete or useless”. It confirms all that we have suspected about his administration since the beginning. It confirms the rot and the systemic waste of public resources while the majority of Nigerians can barely make ends meet on $2 a day.... Read More

#OccupyNigeria, crude oil, fuel subsidy protest, nnpc, Oil, Temie Giwa

October 1, 2012

Fire forces Shell to cut production by 150,000bpd

by Isi Esene Royal Dutch Shell Plc. operating in the Nigerian Delta has announced a cut in its crude production; a decision which was necessitated by a fire suspected to be from an attempt to illegally tap crude from one of its lines. According to the oil concern, the shutdown of the line would cut... Read More

crude oil, Niger Delta, nigeria, Royal Dutch Shell Plc., Tony Okonedo, Vessel

September 17, 2012

Nigeria’s economy improves in Q2 to 6.28 per cent – National Bureau of Statistics

by Isi Esene The National Bureau of Statistics (NBS) on Sunday released Nigeria’s second quarter economic report which indicated a growth of 6.28 per cent reportedly buoyed by the non-oil sector of the economy. This figure represents an improvement on the first quarter economic figures which put the country’s GDP growth at 6.17 per cent.... Read More

barrels per day, bpd, consumer, crude oil, economy, FG, Food, GDP, inflation, National Bureau of Statistics, NBS, non-oil sector

August 25, 2012

Temie Giwa: In the beginning was federalism (YNaija Frontpage)

It is the job of the central government to guarantee that an Aisha in Jigawa, a Chinwe in Enugu and a Tola in Ibadan all have similar access to public goods. Nigeria was very different before oil was discovered in the South-South region. Back then, the economic makeup of the three regions could not have... Read More

central government., cocoa, crude oil, farming, Federalism, groundnut, plam oil, self-reliance, social contract

August 22, 2012

#InCaseYouMissedIt: We are set to explore our vast crude oil deposits – Sokoto Gov. Aliyu Wamakko

by Akan Ido According to the governor of Sokoto State, the state is soon to join the South-South states by becoming an oil producing one. Aliyu Wamakko made this disclosure while receiving the Sultan of Sokoto, Alhaji Sa’ad Abubakar III, who paid him Sallah homage on Monday. He said the state government is making necessary... Read More

Aliyu Wamakko, crude oil, Sa’ad Abubakar, Sokoto State, Sultan, traditional rulers

July 23, 2012

“It is embarrassing” – President Jonathan is fed up with crude oil theft

by Adeniyi Abdul President Goodluck Jonathan is apparently sick of crude oil theft in Nigeria and wants it eradicated as soon as possible. Speaking at the Presidential Maritime Security Retreat in Abuja he stated that a solution had to be found by all parties involved as the situation is a stain on the image of... Read More

crude oil, GEJ, Maritime, nigeria, Oil theft, President Jonathan

May 19, 2012

Deep breaths everyone: “Nigeria is solvent” says Okonjo-Iweala

by Lekan Olanrewaju Calm down, everyone; Nigeria isn’t in any financial trouble. At least, not according to the Coordinating Minister of the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala. During a House of Reps visit to the Ministry on an oversight function on Thursday, Okonjo-Iweala stated that talks of a financial crisis are exaggerations,... Read More

crude oil, Finance, nigeria, Okonjo-Iweala

January 27, 2012

A government that is penny wise and pound foolish!

by Adebola Rayo Nigeria’s refineries have all fallen to ruin due to several years of neglect by successive governments in the country. The Senate Committee on Petroleum (downstream sector), disclosed that the country loses about N719 billion annually due to the comatose state of the Kaduna Refining and Petrochemicals Company (KRPC). The company, which is working at... Read More

crude oil, Nigeria's refineries, subsidy removal