Jibrin, an Assistant Commissioner of Police, gave the warning on Tuesday during his maiden visit to the Warri unit of the task force attached to the Pipeline and Products Marketing Company in Warri Depot.
Browsing: crude oil
A Federal High Court Lagos on Thursday adjourned until June 19, hearing in a debt recovery suit filed by the Federal Government, against Shell Western Supply & Trading Ltd, over alleged 406.7 million dollars shortfall in Crude Oil shipment.
The Independent Petroleum Marketers’ Association of Nigeria has urged the Federal Government to encourage local refiners, to boost local refining of crude oil in the country.
The National Palm Produce Association of Nigeria says the country will benefit a lot from Crude Palm oil as a leading foreign exchange earner with its price now 500 dollars per tonne against 426 dollars of crude oil.
The Governor of the Central Bank of Nigeria, Godwin Emefiele, on Wednesday urged the Federal Government to attach premium to palm oil production, saying its price is higher than crude oil’s.
A Federal High Court in Lagos on Wednesday dismissed a $55 million debt recovery suit filed by the Federal Government of Nigeria against Agip Oil Company Limited over insufficient evidence.
The Nigerian National Petroleum Corporation says that the national average daily crude oil production stood at about 2.019 million barrels in 2018.
OPEC is set to scrap its planned meeting in April and decide instead whether to extend oil output cuts in June, when the market will be able to assess the full impact of US sanctions on Iran and the crisis in Venezuela.
Oil prices slipped on Wednesday as bullish output forecasts by two big US producers and a build in weekly US crude stockpiles outweighed ongoing Organisation of Petroleum Exporting Countries-led production cuts.
A Federal High Court Lagos on Wednesday adjourned until April 30 the $69 million suit filed by the Federal Government of Nigeria against Chevron Petroleum Nigeria Limited, seeking to recover Oil Revenue.
Dr Ibe Kachikwu, Minister of State, Petroleum Resources, has commended the Department of Petroleum Resources on its newly computerised Crude Oil and LNG Tracking, Automatic Downstream System and other automation initiatives.
The Federal Government says it has commenced the monitoring and tracking of vessels involved in crude oil lifting to help curb crude theft in the country.
The corporation disclosed this in its monthly Financial and Operation report for October 2018, released in Abuja on Wednesday.
The United Nations has said Nigeria lost an estimated $2.8 billion in revenues in 2018 mainly due to oil-related crimes.
Oil prices were stable on Tuesday, supported by hopes that talks in Beijing between US and Chinese officials might defuse trade disputes between the world’s biggest economies.
Oil markets dropped by around one per cent in 2019’s first trading on Wednesday, pulled down by surging US output and concerns about an economic slowdown in 2019 as factory activity in China, the world’s biggest oil importer, contracted.
Oil prices fell on Friday ahead of the New Year holiday as global crude benchmarks moved back toward their lowest levels in more than a year.
Following the discovery of crude oil by Shell D’Arcy Petroleum, pioneer production began in 1958 from the company’s oil field in Oloibiri in the eastern Niger Delta. By the late sixties and early seventies, Nigeria had attained a production level of over two million barrels of crude oil a day.
Falana spoke at an interactive Media Roundtable on Impact of Non-payment of Capital Gain Tax and Other Levies in the Oil and Gas Sector on the Socio-Economic Development of the country on Tuesday in Lagos.
OPEC sees the oil market as well supplied and is wary of revisiting a glut next year, the group’s secretary-general said on Thursday, suggesting producers are in no rush to expand a June agreement that raises output.