Oil And Gas

$1.1bn OML 17 deal to impact FG, communities, economy ― CFO TNOG

The $1.1 billion Oil Mining License, OML 17 deal undertaken by TNOG Oil and Gas Limited, a related company of Heirs Holdings and Transcorp, would impact on the Federal Government, communities and the entire nation’s economy. Chief Finance Officer, TNOG, Samuel Nwanze, said the OML 17 has about 1.2 billion barrels of oil equivalent, additional …

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Oil, gas stakeholders jittery as crude price rises above $50

Stakeholders have expressed fear over the steady rise in crude oil prices which hit close to $56 per barrel at the weekend, warning that this might translate to more hardship for Nigerians. The sharp rise in oil prices may not be unconnected with the decision of Saudi Arabia to cut more than one million barrels of …

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AuGF sends queries on MDAs’ finances to National Assembly

The office of the Auditor General of the Federation has presented its 2018 report to the National Assembly. The House of Representatives has also commenced consideration of the report, writing ministries, departments and agencies of the Federal Government to respond to the audit queries issued against them. Clerk to the National Assembly, Amos Ojo, in …

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Grass-cutting fraud: EFCC re-arraigns ex-SGF Lawal today

The Economic and Financial Crimes Commission will today (Monday) re-arraign a former Secretary to the Government of the Federation, Babachir Lawal, and six others, for an alleged fraudulent N544m grass-cutting contract, The PUNCH has learnt. This will be the second re-arraignment of the defendants, who were first arraigned before the late Justice Jude Okeke of …

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