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The Minister of Justice and Attorney General of the Federation, Abubakar Malami, has advocated the need to focus on the non-oil sector to boost export and drive economic growth. The minister who was represented by Barr. Ifunanya Nwajagu, Director, Legal Drafting at the Ministry of Justice made the call at the just concluded National Conference on creating Legal and Institutional Frameworks for Geographical Indications in Nigeria. Recall that latest Gross Domestic Product figures from the National Bureau of Statistics (NBS) showed that Nigeria’s economy grew by 3.98 per cent in the fourth quarter of 2021 with the non-oil sector as the major contributor to the positive growth. To this end, the AGF noted that focusing on Geographic Indications will serve as a further panacea for poverty reduction, community development and social inclusiveness. According to him, “the time has come to move away from the oil economy. Surely, the time has come to embrace the green economy through economic drive powered by geographical indications for which Nigeria is richly endowed in quality assets and products. “Needless to state clearly that Geographical Indications represent economic opportunities in rural areas, leading to more rural jobs and stronger rural communities.The right to use a geographical name belongs to the community of producers in a given area and empowers those who are involved in the origin of so many wonderful products thereby making Geographic Indications the perfect tool for local development,” the minister explained.

An international oil pipeline running through a key rebel-held city in eastern Ukraine blew up on Friday, Russian media said, with images showing a fireball lighting up the night sky.

The Chairman of the Human and Environmental Development Agenda (HEDA), Olanrewaju Suraju, was yesterday arraigned before a Federal High Court in Abuja. Suraju was arraigned on a two-count charge filed by the office of the Attorney General of the Federation (AGF) in which he was accused of cyber-stalking a former AGF, Mohammed Adoke. Salihu Bagudu from the Federal Ministry of Justice represented the prosecution while Muiz Banire (SAN) represented the defendant. When the charge was read yesterday, Suraju pleaded not guilty, following which his lawyer applied for bail. Justice Binta Nyako granted him bail and adjourned till May 10 for the commencement of trial. Adoke had, in a petition to the police, accused the HEDA boss of peddling falsehood against him in respect of the Malabu oil scam. He had, in the petition, demanded a probe of email evidence presented against him by prosecutors in the Malabu trial in Milan, Italy, admitting that the Malabu transaction was a scam. In count one of the charge marked: FHC/ABJ/CS/370/2021, Suraju is accused of intentionally circulating an audio telephone interview between one Ms.

The 63rd foundation day of Oil India Limited was held at its field headquarters in Duliajan on Friday along with its offices across the country.

As many as 35 major cyberattacks on energy and oil infrastructure have taken place since 2017, making up one-third of all cyberattack incidents of the past five years, data from the S&P Global Platts Oil Security Sentinel research project showed on Friday. Since 2017, the U.S. has been the most targeted country, followed by the UK and Saudi Arabia, according to S&P Global Platts Oil Security Sentinel. Several high-profile cyberattacks have occurred in the past year alone, including the major ransomware attack on the computer network of

NEW YORK (Reuters) A U.S. stock market, already on edge from a hawkish Federal Reserve and a conflict between Russia and Ukraine, now has another worry: higher oil prices. U.S. crude prices stand at around $91 a barrel after surging some 40% since Dec. 1 and earlier this week touched their highest level since Read More

Friends of the Earth says a ruling by Court of Appeal judges relating to an oil well in Surrey might have implications for the planned mine.

''Energy uncertainty in the world''

LUANDA, Angola: Angola, the second-largest crude producer in sub-Saharan Africa, on Thursday (Friday in Manila) said oil exports rose 3 percent during the last three months of 2021 as energy prices soared. The country raked in $7.8 billion from crude oil exports between October and December, when prices averaged $79 a barrel, the secretary of state for oil and gas, Jose Alexandre Barroso, said. The export volume "represented an increase of 3 percent over the previous quarter," he told a news conference in the capital Luanda. Angola exported a total of 394 million barrels of crude oil last year, he added. In December, the International Monetary Fund (IMF) projected that Angola''s economy will grow by about 4 percent in the medium term, "bolstered by the implementation of planned growth-enhancing structural reforms." "Continued fiscal restraint should deliver a substantial overall surplus in 2021, while higher oil prices are supporting a high current account surplus," the IMF said in a statement.

Events in Russia and Iran have caused investor sentiment to cool.

Motorists in Iraq''s main northern city of Mosul queued for hours on Friday to fill up their cars with petrol, with authorities blaming shortages on smuggling to the nearby Kurdistan region. For the past week, long lines have formed at petrol stations in Mosul and the rest of Nineveh province, AFP journalists reported. Soldiers were deployed in some stations to contain any violence, as tempers flared among motorists over the petrol shortage. "Our lives are made of waiting in line. It has become a routine," taxi driver Abdel Khaliq al-Mousalli complained.

This week’s price action suggests that traders remain unconvinced there will be a war in Ukraine given the diplomatic conversations taking place.

Oil futures fall Friday, on track to break a string of eight consecutive weekly gains, as prospects for restoring the Iran nuclear deal outweighing fears of…

Equity markets were mixed on Friday following a steep drop on Wall Street fuelled by renewed fears that Russia will soon invade Ukraine, adding to long-running angst about the Federal Reserve’s plans to hike interest rates. While tensions in Eastern Europe continue to absorb most of the attention, oil extended losses as traders grow increasingly optimistic of a deal on Iran’s nuclear programme that could see it restart crude exports. After a disappointing start to the year, investors are still to get their mojo back as they contend with a range of risk-off issues, including Russia-Ukraine, soaring inflation, imminent rate hikes, supply chain snarls and China’s COVID outbreaks. And analysts warned the uncertainty will likely last for some time. For now, eyes are on the Russia-Ukraine border after Joe Biden warned that Vladimir Putin’s forces could attack any time soon. There had been optimism the crisis had passed after Moscow said troops were withdrawing, but Western powers said there is no sign that is the case, while accusing it of preparing a “false flag operation” as a pretext for invasion.

FORT WORTH, Texas, Feb. 18, 2022 /PRNewswire/ -- Valor, an asset management and professional services company specializing in oil and gas mineral rights, has announced two key executive promotions. Effective immediately, Matt Autry has been promoted to president of their Oil and Gas…