Petroleum Resources – InfoStride News https://www.theinfostride.com Breaking News, Nigeria News and Top Stories Wed, 11 Oct 2017 18:08:09 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://www.theinfostride.com/wp-content/uploads/2015/07/cropped-The-InfoStride-Favicon-150x150.png Petroleum Resources – InfoStride News https://www.theinfostride.com 32 32 Everyone Should Let Ibe Kachikwu Be – AV https://www.theinfostride.com/everyone-should-let-ibe-kachikwu-be-av/ Wed, 11 Oct 2017 18:08:09 +0000 http://www.theinfostride.com/?p=185036 An advocacy group called Accountability Vanguard (AV), in a statement signed by its spokesperson, Comrade Ojelabi, has utterly blasted NNPC GMD, Maikanti Baru. The group says “it roundly condemns the attempt by the NNPC and some politicians to blackmail and denigrate the Minister of State for Petroleum Resources, Ibe Kachikwu, over the allegations he levelled [...]

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]]> Court Orders Final Forfeiture of Diezani Alison-Madueke’s N7.6b Properties to FG https://www.theinfostride.com/court-orders-final-forfeiture-of-diezani-alison-maduekes-n7-6b-properties-to-fg/ Tue, 29 Aug 2017 22:31:57 +0000 https://www.theinfostride.com/?p=180156 Former Minister of Petroleum Resources, Diezani Alison-Madueke ‘s N7,644,700,000.00 properties have been permanently forfeited to the Federal Government by the Federal High Court in Lagos on August 28, 2017. The money which  is reasonable suspected to be proceeds of illegal activities was traced by the Economic and Financial Crimes Commission (EFCC) to an account in [...]

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]]> EFCC urges Protesters to follow Due Process https://www.theinfostride.com/efcc-urges-protesters-to-follow-due-process/ Mon, 28 Aug 2017 21:45:17 +0000 http://www.theinfostride.com/?p=179983 The Economic and Financial Crimes Commission (EFCC) today reiterated its resolve to follow the rule of law, even as a group, “Concerned Nigerians”, led a protest to its headquarters, calling for repatriation of Diezani Alison-Madueke, a former minister of petroleum resources, alleged to have siphoned several billions of state funds, from the United Kingdom. Speaking [...]

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]]> Oil Companies Must Identify Within Their Own Domain – Ibe Kachikwu https://www.theinfostride.com/oil-companies-must-identify-within-their-own-domain-ibe-kachikwu/ Sat, 26 Aug 2017 23:39:37 +0000 http://www.theinfostride.com/?p=179804 The Minster of State for Petroleum Resources, Dr Ibe Kachikwu,on Thursday asked financial institutions and stakeholders to support the expansion of the Nigerian Content Intervention Fund. Kachikwu said that the fund would help to help some local Nigerian experts who wanted to invest in some areas but lacked sufficient funding. “As small as the fund [...]

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]]> $21.3m Assets: Court Orders Temporary Forfeiture Of Another Set Of Diezani Properties https://www.theinfostride.com/21-3m-assets-court-orders-temporary-forfeiture-of-another-set-of-diezani-properties/ Thu, 24 Aug 2017 17:36:29 +0000 http://www.theinfostride.com/?p=179414 A Federal High Court sitting in Lagos on August 22, 2017 has ordered the temporary forfeiture of another set of properties and assets linked to a former petroleum resources minister, Diezani Alison-Madueke. Other respondents in the suit are Mr. Donald Chidi Amamgbo, Chapel Properties Limited, Blue Nile Estate Limited, Azinga Meadows limited and Vistapoint Property [...]

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]]> Final Forfeiture for Diezani Alison-Madueke’s $37.5m Property in Banana Island https://www.theinfostride.com/final-forfeiture-for-diezani-alison-maduekes-37-5m-property-in-banana-island/ Wed, 09 Aug 2017 05:04:26 +0000 http://www.theinfostride.com/?p=177372 The Federal High Court sitting in Ikoyi, Lagos presided over by a vacation judge, Justice Chuka Obiozor, on Monday, August 7, 2017, ordered the final forfeiture of a $37.5m (N11.75bn) property on Banana Island, Ikoyi, Lagos allegedly belonging to a former Minister of Petroleum Resources, Diezani Alison-Madueke. The order came following an exparte application filed [...]

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]]> EFCC Arraigns Barrister Akpan for N40m Filing Station Sale Fraud https://www.theinfostride.com/efcc-arraigns-barrister-akpan-for-n40m-filing-station-sale-fraud/ Thu, 02 Jun 2016 20:06:18 +0000 http://www.theinfostride.com/?p=130721 Imo Efiong Akpan, a lawyer was arraigned on Wednesday, June 1 by the Economic and Financial Crimes Commission (EFCC) before Justice Ifiok Ukana of the State High Court sitting in Uyo, Akwa Ibom State on a 2- count charge bordering on stealing and obtaining money by false pretense to the tune of Forty Million Naira. [...]

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]]> Filling Station Owners In Benue Defy FG Directive On New Pump Price https://www.theinfostride.com/filling-station-owners-in-benue-defy-fg-directive-on-new-pump-price/ Sat, 09 Jan 2016 13:28:41 +0000 http://www.theinfostride.com/?p=117672 An investigation has revealed that owners of petrol stations across major towns in Benue State have defied federal government directive to sell petrol at the the new pump price of N86.50K/litre. An investigation conducted on Friday in Makurdi showed that major and independent marketers in the state were selling the product at between N120 and N130 [...]

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]]> DPR Sealed Five Petrol Stations In Warri, Delta State https://www.theinfostride.com/dpr-sealed-five-petrol-stations-in-warri-delta-state/ Sat, 09 Jan 2016 12:27:16 +0000 http://www.theinfostride.com/?p=117669 Five petrol stations in Warri and environs was yesterday sealed by the Department of Petroleum Resources (DPR), Warri Zonal Office for various offences. The stations were sealed for hoarding and over pricing of petroleum products. The affected stations which are Jaak Nig Ltd, Fomas Marine & Engineering Service Ltd and Conoil were punished for hoarding of fuel. Also, [...]

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]]> DPR Commences Enforcement Of Petrol New Pump Price In Plateau State https://www.theinfostride.com/dpr-commences-enforcement-of-petrol-new-pump-price-in-plateau-state/ Sun, 03 Jan 2016 08:19:58 +0000 http://www.theinfostride.com/?p=116837 In ensuring that major and independent marketers comply with the new pump price of N86.50/litre as directed by the Federal Government, the Department of Petroleum Resources (DPR) has begun to visit filling stations in Plateau State. It was reported that in Pankshin the officials of the department visited the central and southern zones of the state to [...]

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]]> DPR Set To Tackle Erring Marketers Who Sell Above Official Pump Price https://www.theinfostride.com/dpr-set-to-tackle-erring-marketers-who-sell-above-official-pump-price/ Sat, 02 Jan 2016 11:09:40 +0000 http://www.theinfostride.com/?p=116699 The Assistant Director of Public Affairs in the Department of Petroleum Resources (DPR), Mrs Dorothy Bassey, disclosed yesterday in Lagos that DPR has read the riot act to filling stations who sell petrol above official pump price of #86.50k and #86 respectively. “We have put effective monitoring teams in place that will go out to monitor the [...]

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]]> Announcement Of N86/litre Pump Price A Continuation Of APC Government Deception – PDP https://www.theinfostride.com/announcement-of-n86litre-pump-price-a-continuation-of-apc-government-deception-pdp/ Thu, 31 Dec 2015 12:53:09 +0000 http://www.theinfostride.com/?p=116336 The National Publicity Secretary of Peoples Democratic Party (PDP), Chief Olisa Metuh, has described the Federal Government’s announcement on Tuesday that new pump price of petrol would be N86/litre as a continuation of the All Progressives Congress, APC’s government by deception. The Petroleum Products Pricing Regulatory Agency (PPPRA) on Tuesday said following the Minister of [...]

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]]> Petrol Price Not Fixed Yet But Will Be Between N87 To N97 Per Litre – Kachikwu https://www.theinfostride.com/petrol-price-not-fixed-yet-but-will-be-between-n87-to-n97-per-litre-kachikwu/ Tue, 29 Dec 2015 23:23:25 +0000 http://www.theinfostride.com/?p=115810 The Minister of State for Petroleum and Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu, sunday clarified that the price of petrol has not been fixed yet but the official price of petrol would be announced next month. This is to clear the air over the perception created on Christmas day [...]

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]]> Minister Discloses Nigeria’s Refineries Repositioned To Produce 10m Litres Of Petrol Daily https://www.theinfostride.com/minister-discloses-nigerias-refineries-repositioned-to-produce-10m-litres-of-petrol-daily/ Mon, 28 Dec 2015 00:18:50 +0000 http://www.theinfostride.com/?p=115627 The Minister of State for Petroleum and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Ibe Kachikwu, disclosed that the nation’s refineries had been repositioned to produce not less than 10 million litres of Premium Motor Spirit (PMS), popularly known as petrol, per day. He stated this yesterday during his official visit to Kaduna [...]

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]]> Fuel Scarcity: DPR Sets Up 24-Hour Special Task Force To Monitor Depots, Filling Stations https://www.theinfostride.com/fuel-scarcity-dpr-sets-up-24-hour-special-task-force-to-monitor-depots-filling-stations/ Fri, 25 Dec 2015 12:40:24 +0000 http://www.theinfostride.com/?p=115260 A 24-hour special task force has been setup by the Department of Petroleum Resources (DPR) to supervise and monitor petrol sales at depots and stations. It said the task force would sanction depots and stations selling above the recommended price. Assistant Director, Public Affairs in DPR, Mrs Dorothy Bassey,  disclosed this in telephone interview with [...]

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]]> Yuletide: Kachikwu Promises Availability Of Fuel https://www.theinfostride.com/yuletide-kachikwu-promises-availability-of-fuel/ Tue, 22 Dec 2015 08:49:18 +0000 http://www.theinfostride.com/?p=114486 Dr Emmanuel Ibe Kachikwu, the Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), has expressed regret at the current fuel scarcity in the country. In a series of tweets marking his arrival on microblogging site Twitter, the minister said actions are already been taken to assuage [...]

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]]> UK Heightens Surveillance Around Ailing Alison-Madueke After Plot To Relocate To Dominica Exposed https://www.theinfostride.com/uk-heightens-surveillance-around-ailing-alison-madueke-after-plot-to-relocate-to-dominica-exposed/ Sat, 19 Dec 2015 07:34:32 +0000 http://www.theinfostride.com/?p=113812 The British authorities has hightened surveillance around ailing Nigeria’s former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, following the revelation that she is on the verge of leaving the country for the Commonwealth of Dominica, where she has reportedly acquired citizenship. Alison-Madueke, who has been in London since May 29, 2015 for treatment of chest [...]

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]]> Nigerian Government Can No Longer Fund The Oil And Gas Industry – Kachikwu https://www.theinfostride.com/nigerian-government-can-no-longer-fund-the-oil-and-gas-industry-kachikwu/ Fri, 18 Dec 2015 08:13:00 +0000 http://www.theinfostride.com/?p=113525 The Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, says the Federal Government of Nigeria no longer has the resources to fund the country’s oil and gas industry, and is therefore, considering and developing new models of financing for the industry in the days ahead. He made this known at a town hall meeting in Abuja [...]

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]]> Nigeria To Jettison Some Oil And Gas Projects To Cut Costs https://www.theinfostride.com/nigeria-to-jettison-some-oil-and-gas-projects-to-cut-costs/ Tue, 15 Dec 2015 07:45:23 +0000 http://www.theinfostride.com/?p=112802 Due to the falling price of crude oil in the global markets, Nigerian Government, yesterday, said that it would drop some planned and ongoing oil and gas projects in the country if the unit price of crude oil for such projects fails to hit a set threshold. FG put the threshold at $20 per barrel. Minister [...]

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]]> Investigate Lingering Petrol Crisis, Reps Mandate Committees https://www.theinfostride.com/investigate-lingering-petrol-crisis-reps-mandate-committees/ Thu, 10 Dec 2015 14:04:23 +0000 http://www.theinfostride.com/?p=111672 Nigeria’s House of Representatives on Wednesday mandated its Committees on Petroleum Resources, Upstream, and Downstream, to investigate the lingering crisis in the supply of petroleum products in the country. This followed a motion moved by Rep. Omoregie Ogbeide-Ihama (PDP-Edo) which was unanimously adopted. Leading the debate, Ogbeide-Ihama said that Nigerians were experiencing difficulties because of persistent [...]

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]]> The Issue Of Volatile Oil Price Will Be The Focus Of My Tenure As OPEC President – Kachikwu https://www.theinfostride.com/the-issue-of-volatile-oil-price-will-be-the-focus-of-my-tenure-as-opec-president-kachikwu/ Fri, 04 Dec 2015 12:16:48 +0000 http://www.theinfostride.com/?p=110325 Ahead of his assumption of office as the new President of the Organisation of Petroleum Exporting Countries (OPEC), Nigeria’s Minister of State for Petroleum Resources, Dr Ibe Emmanuel Kachikwu, has made the issue of volatile oil price the focus of his tenure. Kachikwu took over from immediate past Minister of Petroleum, Diezani Alison-Madueke, who made [...]

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]]> Kachikwu Discloses FG’s Plan To Privatize Pipeline Network https://www.theinfostride.com/kachikwu-discloses-fgs-plan-to-privatize-pipeline-network/ Wed, 02 Dec 2015 20:00:50 +0000 http://www.theinfostride.com/?p=110010 Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, yesterday said that the Federal Government plans to privatize the petroleum products pipeline network in the country to minimize the issue of perennial vandalism and ensure availability of products in the country next year. Kachikwu stated this while touring products depots in Apapa area of Lagos. [...]

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]]> Fuel Scarcity: Port Harcourt Refinery Ready To Resume Production This Week https://www.theinfostride.com/fuel-scarcity-port-harcourt-refinery-ready-to-resume-production-this-week/ Mon, 30 Nov 2015 22:38:49 +0000 http://www.theinfostride.com/?p=109791 Amid lingering fuel scarcity across the country, the Port Harcourt Refining Company (PHRC) Limited will this week activate all its process in a bid to ameliorate the problem. This development was sequel to the successful completion of repair work at the PHRC crude distillation unit, where one of the columns collapsed last month and forced [...]

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]]> Stolen Funds: No Figure On The Returned Loot Yet – Finance Minister https://www.theinfostride.com/stolen-funds-no-figure-on-the-returned-loot-yet-finance-minister/ Sat, 28 Nov 2015 19:08:43 +0000 http://www.theinfostride.com/?p=109479 In his style since he became Nigeria’s leader, President Muhammadu Buhari made another revelation while in Iran; he said looter have begun to return stolen funds. However, there is no figure on such funds just yet. According to the Minister of Finance, Mrs. Kemi Adeosun, who spoke with journalists at yesterday’s Federation Accounts Allocation Committee [...]

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]]> Nigerian Senate Gives NNPC Two Weeks To End Fuel Scarcity https://www.theinfostride.com/nigerian-senate-gives-nnpc-two-weeks-to-end-fuel-scarcity/ Fri, 27 Nov 2015 11:50:52 +0000 http://www.theinfostride.com/?p=109129 The Nigerian National Petroleum Corporation (NNPC) and all the agencies under the Ministry of Petroleum Resources has just two weeks to end petroleum products’ scarcity in the country. This is according to the Senate which gave the order on Thursday. The red chamber also said notable sharp practices including discrepancies in prices of petroleum products, [...]

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]]> President Buhari Will Depart For Iran On Sunday To Attend Gas Exporting Countries Forum https://www.theinfostride.com/president-buhari-will-depart-for-iran-on-sunday-to-attend-gas-exporting-countries-forum/ Sat, 21 Nov 2015 09:19:46 +0000 http://www.theinfostride.com/?p=108037 President Muhammadu Buhari (PMB) will leave for Tehran, Iran on Sunday, to participate in the 3rd Gas Exporting Countries’ Forum (GECF) opening on Monday. A statement issued by the Presidential spokesman, Mr Femi Adesina, in Abuja on Friday said that Buhari and other GECF leaders were expected to review the current market outlook on gas [...]

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]]> EFCC Seizes Diezani’s Associates’ Bullet-Proof Vehicles, Cash, Others https://www.theinfostride.com/efcc-seizes-diezanis-associates-bullet-proof-vehicles-cash-others/ Wed, 04 Nov 2015 08:01:36 +0000 http://www.theinfostride.com/?p=105309 Economic and Financial Crimes Commission (EFCC) has confiscated bullet-proof vehicles, huge amount of cash and jewelry from five prominent Nigerians implicated in the money laundering allegation against immediate past Minister of Petroleum Resources, Diezani Alison-Madueke. The EFCC and its British counterpart, National Crime Agency (NCA), are investigating the suspects for allegedly conniving with Alison-Madueke to [...]

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]]> Former Nigeria Oil Minister Diezani Alison-Madueke arrested in London on suspected Bribery Charges https://www.theinfostride.com/former-nigeria-oil-minister-diezani-alison-madueke-arrested-in-london-on-suspected-bribery-charges/ Fri, 02 Oct 2015 22:02:38 +0000 http://www.theinfostride.com/?p=101760 Nigeria’s ex-minister of petroleum resources has been arrested in London, United Kingdom according to reports. It is believed Diezani Alison-Madueke was apprehended at the UK National Crime Agency on Friday 2 October. The agency posted on Twitter that five arrests had been made but declined to reveal the identity of those arrested. A spokesperson told [...]

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]]> DPR Sanctions NNPC, Forte Oil, Others For Flouting Regulation | #Nigeria https://www.theinfostride.com/dpr-seals-nnpc-forte-oil-others-for-flouting-regulation-nigeria/ Tue, 25 Aug 2015 09:30:37 +0000 http://www.theinfostride.com/2015/08/dpr-seals-nnpc-forte-oil-others-for-flouting-regulation-nigeria/ The Department of Petroleum Resources (DPR) has sanctioned some filling stations, including NNPC, Forte Oil, Mobil and some others, for selling petrol and kerosene above regulated prices, and under-dispensing, among other infractions. The infractions were uncovered during an oversight inspection carried out last week by the petroleum industry regulator in the Lagos Zone of operations [...]

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