One US-based magazine Staff Writer with Foreign Policy, Robbie Gramer, exposed new facts from investigations into the fraud surrounding the Shell/ENI deal that was sealed during the last administration in 2011, shows that a Nigerian businessman, Aliyu Abubakar allegedly withdrew $54,418,000 in cash … [Read more...]
Department of Petroleum Resources reveals when Nigeria’s oil will dry up
Information coming from the Department of Petroleum Resources (DPR) have revealed that the Nigerian crude oil reserve, put at 38 billion barrels, could dry up in 55 years. A report by the Nigerian Tribune says the data was submitted to financial and geological institutions and that it was … [Read more...]
See why the House of Representative have given CBN a one week ultimatum
The House of Representatives Ad-hoc Committee on Oil Prospecting Licences, OPLs, and Oil Mining Leases, OMLs, yesterday, gave the Central Bank of Nigeria, CBN, and others one week ultimatum to provide all relevant documents to ascertain the payments of about $22.6 billion oil blocs from application … [Read more...]
Revealed! Workers of American Oil Gaint, Baker Hughes secretly sacked after Joining PENGASSAN (See Documents)
On July 15th 2016, the Baker Hughes Top Management locked out all employees of the company who joined the Union attached to the Nigerian Oil sector PENGASSAN. They claimed that the appointments of all staffs have been terminated because the positions they hold had become 'Redundant'. Ever since … [Read more...]
Finally, Mr President speaks on the recession that has hit the country badly
The number one citizen of our country reveal yesterday that, the drop in oil price is the reason for recession in the country. He spoke inside the Council Chambers of the Aso Rock Presidential Villa in Abuja on Friday while inaugurating the boards of the Nigerian National Petroleum Corporation … [Read more...]
More Oil, more money? ExxonMobil discovers one billion barrels of oil in Nigeria
United States-based Oil company, Exxonmobil Corporation on Thursday announced that they had discovered up to one billion barrels of oil in the Owowo field, offshore Nigeria. The oil gaint said it was “a significant discovery with a potential recoverable resource of between 500 million and one … [Read more...]
Buhardship: Thousands of workers in the Nigerian Oil industry sacked
Massive sack has rocked the oil and gas industry and over 3,000 workers has been affected as the country’s economic recession bites harder, two unions have said. The two major unions in the oil and gas sector, NUPENG and PENGASSAN, have thus threatened to go on strike saying over 3,000 of their … [Read more...]
Oil price increases to $50 per barrel, exportation increase
Ope oh, now that oil price has increased and exportation too-- maybe we will get out of this horrible recession quickly. This new development has signaled a boost for the funding of the economy as the country’s 2016 budget has suffered a major setback due to the financial challenges in the … [Read more...]
