Reps Declare ₦320bn Lacking From Crude oil Remittance

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Chairman, House of Representatives Committee on Finance, Hon Abdulmumuin Jibrin, last weekend declared N320billion missing from the remittance by the Nigeria Nationl Petroleum Corporation (NNPC). He said that the sum of  N1.516 trillion was paid in by NNPC into the Federal Government treasury.

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OPEC to maintain crude production ceiling

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LONDON (AFP) – 

OPEC meets on Friday in Vienna and is expected to maintain its crude production ceiling, with Brent oil prices steady above $100 a barrel, analysts said, with angst over weaker demand particularly from China.

Ministers from the Organization of Petroleum Exporting Countries (OPEC) will convene in the Austrian capital amid demand worries linked to poor global economic growth, and with one eye on the prospect of booming US shale output.

Court Remands 14 NNPC Workers In Prison For Crude Oil Theft

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Fourteen casual workers of the Nigerian National Petroleum Corporation (NNPC) accused of vandalising petroleum pipes to siphon crude oil for sales to foreigners have been sent to Kuje Prison on remand.

The defendants arrested by a unit of the Guards of Brigade of the Nigerian Army with 14 tankers loaded with crude oil were sent to the prison by Justice Evon Chukwu after the federal government put them on trial on economic sabotage related offenses.

Tanker Carrying Stolen Crude Intercepted With Four Different Number Plates

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Edo State Government has called for more stringent measures against pipeline vandals to checkmate their activities.

Executive Director Petroleum and Gas Monitoring Committee in Edo State, Chris Okaegben made the call when the committee in conjunction with Civil Defense Corps intercepted a 33,000 liter load of stolen crude in Edo State.The committee also sealed up fuel stations in Parts of Ikpoba Okha and Egor on account of adulteration and under dispensing fuel to consumers.

Nigerian oil workers to suspend production if crude theft persists — spokesman

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Nigeria loses billions of Naira monthly to crude theft.

Oil workers in Nigeria have threatened to embark on strike if the federal government does not curb the increased rate of crude oil theft.

The workers, members of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) said on Friday that they would suspend production if the Federal Government did act to stop the menace.

The National Industrial Relations Officer (NIRO) of the Association, Chika Onuegbu, said this in an interview with the News Agency of Nigeria in Port Harcourt.