The Nigerian National Petroleum Corporation on Thursday announced the cancellation of the Offshore Processing Agreements entered Into in January 2015, with three companies namely, Duke Oil Company Inc., Aiteo Energy Resources Limited and Sahara Energy Resources Limited. The deal, initiated by the Jonathan administration, saw the NNPC allocate 210,000 barrels per day of crude oil…
Curing Nigeria’s Oil Curse
Salif Atojoko, deputy general editor, business and special project was in the middle of an investigation for a major story, the development of which he reported to the editorial board. “Great efforts, encouraging leads,” so said the editors. But the board decided that while that investigation was going on, we should do another story, one…
Oil Price Drops After OPEC Meeting
The global price of crude oil further dropped on Friday, after the Organisation of Petroleum Exporting Countries, OPEC, decided not to cut output at its meeting in Vienna. Abdallah Salem el-Badri, OPEC’s secretary general said they would not try to shore up prices by reducing production. “There’s a price decline. That does not mean that…
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