The Nigerian military has defended its action to destroy a vessel used to transport crude illegally from Nigeria. The destruction was within the space of 48 hours the vessel was caught by…
Tag: crude oil
Controversy trails Military decision of setting illegal crude oil vessel ablaze
On Monday, October 10, 2022, the Nigerian Navy set fire to a vessel discovered loading illegal crude oil in Delta state. The vessel named MT Deima, with International Maritime Organisation (IMO) number…
Nigerian’s Tony Elumelu Laments ‘95% of Crude Oil Lost to Theft’
Businessman and Chairman Heirs Holdings, Mr Tony Elumelu, on Thursday bemoaned the fact that Nigeria was losing over 95 per cent of its oil production to thieves. Elumelu, who narrated the ordeal…
Exchange rate falls at official forex market as crude oil, crypto markets suffer losses
The exchange rate between the naira and the US dollar closed at N415.07/$1 at the Investors and Exporters window, where forex is traded officially. Naira depreciated on Thursday against the US dollar…
Local Refineries To Buy Crude Oil In Naira – PIB
VAM news has learnt that crude oil refining licences bearers in Nigeria will pay for domestic crude oil supply in Naira. This development is in line with the Petroleum…