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Oil rises after drop in U.S. inventories

Oil prices rose yesterday after an industry report showed U.S. crude inventories last week fell more than analysts expected, bolstering hopes that fuel demand in the world’s biggest economy can weather the coronavirus pandemic. Brent crude LCOc1 was up 67 cents or 1.5 per cent at $45.17 a barrel, by 1012 GMT, after falling around […]

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A’Ibom youths threaten to expel oil firm over breach of agreement

Youths of Ibeno Local Government Area of Akwa Ibom State have threatened to expel AOS-Orwell Ltd, an oil prospecting firm from the community over an alleged breach of agreement. This was as the angry youths had in a letter to the managementof AOS-Orwell, for which a copy was obtained by our correspondent yesterday, accused the […]

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Pirates attack oil vessel, kidnap 11 crew at Bonny Island

Sea robbers yesterday attacked a Floating Production Storage and Offloading (FPSO), Sendje Berge with explosives some 30 nautical miles southwest from Bonny Island, kidnapping 11 of its crew members. According a United Kingdom-based security firm, Dryad Global, which cited a ‘high confidence’ report, 11 crew members of the FPSO were suspected of being kidnapped. The […]

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Oil theft: Host communities to engage 10,000 vigilance operatives

The Host Communities of Nigeria Producing Oil and Gas (HOSCON) says it will engage 10, 000 youths in petroleum production to safeguard the country’s crude oil from theft. Its National President, Dr Mike Emuh, made this known in Awka on Monday during the inauguration of local government council chapters’ leadership of the group in Anambra. […]

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FG frets as COVID-19 hits offshore, remote oil facilities

DPR warns IOCs over safety protocol violation Shell evacuates close contacts from offshore facility The Federal Government, yesterday, expressed fear as COVID-19 has continued to rock offshore and remote oil facilities in the Niger Delta. Many offshore workers have, according to government, sadly tested positive for COVID-19 “in some offshore and remote locations, many of […]