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ExxonMobil, IPEA partner on environmental awareness

Jul 4, 2013

The Ibom Programme on Environmental Awareness, an initiative of the Akwa Ibom State Ministry of Environment & Mineral Resources in partnership with ExxonMobil, has held a training workshop for advocacy team members in Uyo, Akwa Ibom State. The one-day training was designed to empower IPEA personnel to enlighten people at motor parks, schools, abattoirs, restaurants…

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NEITI lauds judgment ordering Mobil to pay $83.4m tax

Jul 4, 2013

The Nigeria Extractive Industries Transparency Initiative on Sunday praised the recent judgment by the Tax Appeal Tribunal ordering Mobil to pay $83.4m as tax to the Federal Inland Revenue Service. The tribunal recently ordered the oil giant to pay its Education Tax liability to the federation for the year 2008. A statement by the Director,…

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Expert flays oil sector’s $680bn loss to corruption

Jul 4, 2013

The Chief Executive Officer, BOk Development Limited, Mr. Adekunle Disu, has condemned the loss of $680bn annually to corruption in the oil and gas sector due to sharp practices. Disu, who described the situation as appalling, however, expressed optimism that the colossal loss could be effectively checked if government imbibed the political will to tackle…

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India now Nigeria’s biggest crude oil buyer

Jul 4, 2013

India High Commissioner in Nigeria, Mr Mahesh Sachdev, on Wednesday,  said that the Indian government now leads the United States  in the purchase of crude oil from Nigeria. He disclosed this during a courtesy call on Niger State Governor, Babangida Aliyu, at the government house in Minna. He said  recent statistics showed that India had…

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Nigeria sells $Ibn Bonds – Okonjo Iweala

Jul 4, 2013

The Minister of Finance, Mrs Ngozi Okonjo-Iweala, said on Wednesday that Nigeria returned to the capital market after two years of absence and sold $1 billion dollar bond with ease. Okonjo-Iweala said this in Abuja while briefing newsmen on the recently concluded road show in Europe and U.S. to float the billion dollar bond to international…

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Local insurers set eyes on oil, energy insurance pool

Jul 4, 2013

Nigerian insurers are exploring options that will see them improve on their participation in the high risk but lucrative oil and energy underwriting. The Local Content Act 2010 gives Nigerian underwriters opportunity to underwrite 70 percent of the insurance deals in the oil and gas sector if they build the required capacity and competencies. One…

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NUPENG suspends strike

Jul 4, 2013

Alhaji Tokunbo Korodo, the  Chairman, Western Zone of the National Union of Petroleum and Natural Gas Workers, NUPENG, on Wednesday confirmed the suspension of its three-day warning strike. Korodo told the News Agency of Nigeria, NAN, in a telephone interview in Lagos that the strike was suspended on Tuesday at about 12 midnight, after the…

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NUPENG strike: Petrol scarcity grounds major cities in Nigeria

Jul 3, 2013

The scarcity of petrol left thousands of motorists stranded in Abuja, Ibadan, Minna and other major cities on Tuesday as the three-day warning strike embarked upon by members of the Nigerian Union of Petroleum and Natural Gas Workers entered the second day. In Abuja and Ibadan, most filling stations did not open for business, even…

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Oil thieves spill 500 barrels in Adibawa – Shell

Jul 3, 2013

The Shell Petroleum Development Company of Nigeria has raised the alarm over the rising oil theft-related spills at the Adibawa field. The Nigerian subsidiary of Royal Dutch Shell said on Tuesday in a statement that nearly 500 barrels of oil were spilled into the environment in eight crude theft and sabotage related incidents in Adibawa…

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Nigerian content creates 15,000 direct Jobs – Alison-Madueke

Jul 3, 2013

The Nigerian Content Act in the oil and gas industry has created over 15,000 direct jobs since it was signed into law by President Goodluck Jonathan on April 22, 2010, the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has said. Speaking at the weekend during the groundbreaking ceremony for Line Pipe Mill and Coating Facility…

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