The Chief of Naval Staff, Vice Admiral Awwal Gambo, has described as unrealistic and impossible the estimated amount of stolen crude oil in the country. Reports of stolen crude oil of about 20,000 to 200,000 barrels per day had been in circulation. But the naval chief described the figures as too high, stressing that losses
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Considering the high capacities of Nigeria in the field of crude oil export and LNG production factories and the export of the energy carrier, we can hope for long-term cooperation between the two countries in this field A memorandum of understanding for cooperation in fields of energy, including the export of technical and engineering services
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Operatives of the National Security and Civil Defence Corps in Delta State have arrested four bunkery suspects and intercepted six tankers and articulated trucks loaded with stolen and illegally refined petroleum products suspected to be automated gasoline oil. The NSCDC spokesperson in the state, Emeka Okwechime, confirmed the development in a statement on Wednesday. He
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The Nigeria Security and Civil Defence Corps in Cross River, has impounded 16,000 litres of stolen petroleum products in the state. The state NSCDC Commandant, Mr Samuel Fadeyi, said the stolen products which are mainly Automotive Gas Oil also known as diesel, were stored in drums and gallons and hidden at trailer parks across the
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Former Vice President of Nigeria, Atiku Abubakar, on Tuesday, added his voice to the widespread protests on the recent increment of the pump price of petrol by the Nigerian government. Atiku stated that from an economic viewpoint, the hike was not necessitated. The DAILY VENDOR recalls that the federal government through the Petroleum Products Marketing
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The newly elected Executives seem to have a major issue on their table as the Federal Government has said since its operation cost takes 46 per cent of its income from crude oil, it may necessitate job losses or zero profit unless there is understanding with workers. President Muhammadu Buhari, represented by the Minister of
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Members of the National Union of Petroleum and Natural Gas workers (NUPENG), and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have suspended the strike they undertook to protest against the non-payment of their salaries. PENGASSAN’s Public Relations Officer, Fortune Obi, confirmed the suspension Tuesday morning. He said, “Strike suspended as Federal
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…The administration of President Félix Antoine Tshisekedi has made energy security and investment its top priority, seeking to get massive hydropower projects off the ground JOHANNESBURG, South Africa, Surrounded by major African oil & gas producers Republic of Congo and Angola, the Democratic Republic of Congo (DRC) has so far remained relatively absent of Africa’s
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Members of Independent Petroleum Marketers of Nigeria (IPMAN) in Anambra state have threatened to shutdown operations following a N13.6million debt being owed one of them by Transport Company of Anambra State (TRACAS), since 2017. The body had on August 4, 2020, issued a 21-day ultimatum to the state government to pay off the debt, and
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The Independent Petroleum Marketers Association of Nigeria, IPMAN, has condemned the actions of members of Petroleum Tanker Drivers Union, Eastern Region over a purported strike action. In a press statement signed by the IPMAN’s Caretaker Chairman, Mr. Tagbo Osita Nnamani, at IPMAN’s Depot in Enugu stated that the action is illegal and an established act
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NAIROBI, Kenya The recent acquisition by Total of Tullow Oil’s entire interests in the Lake Albert Development Project in Uganda, including the East African Crude Oil Pipeline, marks the beginning of a new chapter for East Africa’s energy industry. To dissect the deal and discuss its wider implications for the region, the African Energy Chamber
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JOHANNESBURG, South Africa, The double crisis of the COVID-19 pandemic and the collapse in oil prices is taking a toll on African economies and the African energy industry. An unstable and precarious oil prices environment has resulted in substantial cuts in state budgets and public spending, in losses of contracts and hundreds of thousands of
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A youth group, ‘National Youth Response Group’ has frowned at what it calls a blatant disregard for the lives of Nigerians. This was shared in a statement released by its South-South Coordinator, Comrade Preye Thomson. The group in a statement sent to THE DAILY VENDOR alleged that the Nigerian Oil AGIP Company Limited, a multinational
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NAIROBI, Kenya, President Museveni, Tullow Oil and Total’s CEOs could not have chosen a better time to announce their agreement to resolve a long-standing capital gains tax dispute that had earlier prevented Tullow Oil from farming out its Lake Albert licenses to Total. Oil junior Tullow Oil announced that it has agreed the sale of
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MALABO, Equatorial Guinea, The Ministry of Mines and Hydrocarbons and the African Energy Chamber (www.EnergyChamber.org) will host an open webinar on the current state of the global oil markets; H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea will lead the conversation on the topic ‘The State of Oil Markets and Global
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