Levi Ajuonuma News
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The world’s deadliest air disaster this year killed at least 163 people in Nigeria when a Dana Airlines Ltd. passenger plane slammed into a heavily populated suburb in Nigeria’s biggest city, Lagos.
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Nigeria plans to increase oil production capacity to 4 million barrels a day by 2020 and expand its crude reserves to 40 billion barrels, Petroleum Minister Diezani Alison-Madueke said.
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Nigerian labor unions and civic groups want Petroleum Minister Diezani Alison-Madueke to be fired after a parliamentary probe found the government made illegal payments of about 1.1 trillion naira ($7 billion) for fuel subsidies.
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State-owned Nigerian National Petroleum Corp. plans to accept a $2 billion loan from a group led by the Japan Bank for International Cooperation to fund its share of a $5 billion liquefied natural-gas project.
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Fuel thieves in Nigeria ruptured a pipeline transporting kerosene in the southern town of Sapele, causing an explosion and fire, according to Nigerian National Petroleum Corp.
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Nigeria isn’t planning to sell its four refineries or any of the state-owned oil company’s units, an official at the Nigerian National Petroleum Corp. said.
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Nigeria said it will take over operator rights at each of the four licenses in which Royal Dutch Shell Plc is selling its interests.
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Nigeria’s parliament is probing whether fraudulent practices by government agencies fueled a fivefold rise in spending on gasoline subsidies in the past three years, said the head of the investigating committee.
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Nigeria’s main militant group, the Movement for the Emancipation of the Niger Delta, said its fighters blew up a pipeline that supplies crude to the country’s Warri Refinery.
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Nigeria’s naira headed for the highest level in three months on speculation of foreign exchange inflows from the state oil company before a central bank dollar auction.
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