Iraq, OPEC’s second-largest producer, committed to reduce daily production by 210,000 barrels to 4.351 million barrels as part of a December agreement among major oil producers. That agreement stipulated a total reduction of 1.8 million barrels per day in the first six months of 2017.
Andrew Yakubu was arraigned by the EFCC on the 16th March, 2017 before the Federal High Court, Abuja. His arraignment was sequel to a raid which was carried out by the operatives of the commission on his property located at Sabon Tasha area of Kaduna State and which led to the discovery of the sum of $9,772,000 and £74,000 stashed in fire proof safes.
Oscarline Onwuemenyi 11 May 2017, Sweetcrude, Abuja – The journey to the transformation of the Nigerian National Petroleum Corporation (NNPC)…
Kunle Kalejaye 11 May 2017, Sweetcrude, Lagos – The Nigerian National Petroleum Corporation, NNPC and seven key partners have evolved…
Kunle Kalejaye 11 May 2017, Sweetcrude, Lagos — The Federal House of Representatives passed a bill on Tuesday to amend…
“NLNG succeeded largely due to the provisions of the NLNG Act, which gave investors the confidence to invest in the country. But with an amendment, that confidence will be eroded and jeopardize critical ongoing investments for the continued survival of the company.”
11 May 2017, Sweetcrude, Vienna, Austria — The price of OPEC basket of thirteen crudes stood at $47.31 a barrel…
“For the avoidance of doubt, it must be reiterated that the relevant provisions of the Money Laundering Prohibition Act 2011 (as amended) and CBN AML/CFT Regulations, 2013, require banks and other financial institutions, OFIs, to render various returns to the CBN and Nigeria Financial Intelligence Unit, NFIU.”
Kunle Kalejaye 11 May 2017, Sweetrude, Lagos- About 660,000 barrel per day oil production cut is looming in Nigeria sequel…
“Also note that the Nigerian Extractive Industry Transparency Initiative (NEITI), in its 2014 Nigerian oil and gas report, disclosed that in 2008, the Federal government, in its fiscal regime for the petroleum sector, set a penalty of $3.5 per 1000 SCF of gas flared by oil companies, observing, however that the companies have refused to comply with the directive.”
