PM News Nigeria

Ohi Alegbe, new Group GM Public Affairs for NNPC

Ohi Alegbe: Group GM Public Affairs, NNPC

The Nigerian National Petroleum Corporation (NNPC) has announced the appointment of Mr Ohi Alegbe as Group General Manager, Public Affairs Division. The appointment takes immediate effect. Mr Bernard Otti, Group Executive Director, Finance and Account announced the appointment today. Alegbe, an alumnus of the University of Benin, is taking to the NNPC three decades of […]

Glencore buys Caracal Energy

crude oil barrels

Mining company Glencore Xstrata said it agreed to buy Chad-focused oil company Caracal Energy (CRCL.L) for about 800 million pounds, in a deal which will involve Caracal abandoning a merger with Canada’s TransGlobe Energy. Glencore’s 550 pence per share agreed bid for Caracal represents a 61 percent premium to Caracal’s closing share price on Friday. […]

Senate to invite Diezani on NNPC opaque finances

Diezani Alison-Madueke: oil minister

Nigeria’s Senate Committee on Petroleum (Downstream) has said it will invite the Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, to furnish it with details of NNPC financial transactions, if the NNPC fails to do so. The NNPC management had continuously failed to provide the committee with details of its financial transactions, claiming that it was […]

Ogunbambo, Fuel Subsidy Fraud Suspect Flees To Canada

Oluwaseun Ogunbambo

Henry Ojelu The Economic and Financial Crimes Commission, EFCC, Thursday, informed a Lagos High Court in Ikeja, western Nigeria, that an oil marketer, Oluwaseun Ogunbambo, who is being prosecuted over an alleged N979.6 million subsidy fraud, has fled to Canada. Ogunbambo and another oil marketer, Habila Theck are standing trial alongside their firm— Fargo Energy […]

Nigeria’s Power Firm Owes N850bn

Nigeria’s National Electricity Liabilities Managing Company (NELMCO), on Wednesday said it was grappling with N850 billion debt it inherited from the defunct Power Holding Company of Nigeria (PHCN). Dr Sam Agbogun, Managing Director of the company disclosed this in an interview with the News Agency of Nigeria (NAN) in Jos. He said N253 billion was […]

House of Reps approves $1bn loan for NNPC

NNPC headquarters in Abuja

The House of Representatives, has approved the 1.56 billion dollars loan facility proposed by the Nigerian National Petroleum Corporation (NNPC). The resolution followed the adoption of the report on the proposed loan by the Committees on Petroleum Resources, Upstream and Downstream, Loans and Debts, and Justice. The House also urged the Ministry of Petroleum Resources […]

US ship captain reveals oil theft business in Nigeria

Wren Thomas: Captured by Nigerian pirates for 18 days

Surrounded by rolling cornfields, Sidney, Illinois is a sleepy midwestern town with a population hovering just above 1,000. Captain Wren Thomas III grew up on a farm here, about as far away from the ocean as one can be in the United States. Much farther away still was a drug-filled pirate lair in the swamps […]

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