February 23, 2015
Shell’s N25 billion compensation excites Bodo Community

Bodo community in Gokana Local Government Area of Rivers State appears to be enjoying a new vista following the payment of N25 billion oil spill compensation by the Anglo-Dutch oil giant, Shell Petroleum Development Company of Nigeria (SPDC). Our correspondent, who visited the area, last Thursday, said the community was agog with construction of new…

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February 10, 2015
Over $1.48 billion in remittances owed to FG – Highlights of PWC’s Forensic Audit on NNPC

For those who care for this, found it on the Facebook page of Minister of Finance and Coordinating Minister of the Economy, Dr Ngozi Okonjo-Iweala Highlights of Investigative Forensic Audit done by Pricewaterhouse Cooper into the allegations of unremitted Funds into the Federation Accounts by the NNPC for the period January 2012 to July 2013….

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February 4, 2015
NNPC – Nigeria’s current daily crude oil losses through vandalism at 60,000 barrels (N535 million)

The Nigerian National Petroleum Corporation (NNPC) has deplored the recent increase in attacks on crude oil and gas pipelines, pointing out that the Escravos-Lagos Gas Pipeline was vandalized with four breaks over the weekend. The Group Executive Director (GED) Gas and Power of the Corporation, Dr. David Ige, who revealed this in a television interview…

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February 3, 2015
Pre-election Jitters?: Foreign investors withdrew $4.5bn from Nigerian Stock Market in 2014

Foreign investors sold off Nigerian stocks valued at N846.5 billion ($4.5 billion) last year, the Nigerian Stock Exchange (NSE) data showed on Monday. This was 65 per cent more than in 2013 as decline in oil prices and the naira currency depressed sentiment. Reuters reported that with an Islamist insurgency raging in the country’s north…

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February 2, 2015
Oil shock: FG reduces its capital budget for JV oil operations by 40% to $8.1 billion

Following the dwindling oil prices in the global market, the Federal Government has directed Joint Venture Companies, JVCs, to cut their 2015 budgets by 40 per cent. The National Petroleum Investment Management Services, NAPIMS, which issued the directive on behalf of the government, reminded them that the budgets were drawn early in 2014 when crude…

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