Oil prices posted their strongest opening to a year since 2014 on Tuesday, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia. U.S. West Texas Intermediate (WTI) crude futures were at $60.63 a barrel at 0747 GMT, up 21 cents, or 0.4 percent, after hitting $60.74 earlier in the day, the highest since June 2015.

The Nigerian Ports Authority (NPA) has suspended service boat operations to debtor International Oil Companies (IOCs) and other beneficiaries of the services. NPA spokesman, Abdullahi Goje, said in a statement that the suspension, which took immediate effect, affected all its pilotage districts until full settlement of debts accruing from unpaid pilotage dues.

The Registrar of Joint Admission and Matriculation Board (JAMB), Prof Ishaq Oloyede has disclosed that the Board in 2017 generated N12 billion as income and remitted N7.8 billion to the Federal Government after deducting various expenses. Prof Oloyede made this known on Monday during a press briefing in Ilorin, the Kwara state capital.

The Nigerian National Petroleum Corporation (NNPC) has assured Nigerians that the issues of long fuel queues and petrol scarcity across the country will disappear by the weekend.

Group Managing Director of the Corporation, Dr Maikanti Baru, gave the assurance on Wednesday while addressing reporters in Abuja.

According to him, NNPC is winning the war and putting in place adequate measures to ensure the product is easily accessible to the people in all parts of the country.

“I promise by weekend, most of the abrasions we’ve been noticing will disappear. You could see that we are winning the war,” Baru said.

Vice President Yemi Osinbajo has confirmed that 10 modular refineries were at advanced stages of development in the Niger Delta. According to his Special Assistant on Media and Publicity, Mr Laolu Akande, the 10 modular refineries were located in five out of the nine states in the Niger Delta region: Akwa Ibom, Cross River, Delta, Edo and Imo.

The Nigerian National Petroleum Corporation (NNPC) has debunked claims by Depot and Petroleum Products Marketers Association (DAPPMA) that the failure of the Direct Sale Direct Purchase (DSDP) partners of NNPC to deliver on their business obligations as well as the inability of the corporation to meet the consumption requirement of the country was responsible for the current fuel scarcity.

Following the prolonged fuel scarcity that marred Christmas celebration by Christian faithful in the country, President Muhammadu Buhari has summoned key players in the nation's oil sector to the Presidential Villa on Monday. According to Vanguard, those expected to meet with the President include the Minister of State for Petroleum Resources, Ibe Kachikwu; Mr. Maikanti Baru, the Group Managing Director, Nigerian National Petroleum Corporation, NNPC;

Nigerian Maritime Administration and Safety Agency (NIMASA) says Nigeria failed to be elected into the category C of the International Maritime Organization (IMO) due to the delay in approval by the Federal Government for the nation to contest for available positions as well as delay in the release of budgetary allocation to the agency.

Nobel Laureate, Prof. Wole Soyinka has reacted to the lingering fuel scarcity in the country. Prof Soyinka who made his position known in a statement titled “Blame passing: The New Year Gift to a Nation,’’ and made available to Vigil360 called on President Buhari to take measures to address the situation and stop the blame passing game that has been ongoing.

The Rivers Government and Shell Nigeria Gas (SNG) have signed a Memorandum of Understanding (MoU) for the distribution of gas to industries in the Greater Port Harcourt area and its environs.

The signing of the MoU was announced in a statement on Tuesday in Port Harcourt by Mr Bamidele Odugbesan, Shell Nigeria Media Relations Manager.

Mr Richard Hart, Permanent Secretary, Ministry of Energy and Natural Resources, signed for the state government while SNG Managing Director, Mr Ed Ubong signed for the company.