The Federal government appears to be at a crossroads as Brent crude soared closer to $75 per barrel on Monday, June 21. According to data, the...
The Department of Petroleum Resources (DPR) has revealed that about 5,300 discovered oil reserves are yet to produce a single drop of crude oil. The Director/Chief...
The Director of the Department of Petroleum Resources (DPR), Sarki Auwalu, said on Wednesday the agency is expecting the first crude oil production from some of...
India has made a major oil decision that will affect the revenue of Nigeria. The Asian country has cut down on its importation of crude oil...
The Federal Government of Nigeria has revealed that the country in January 2021 recorded N366.53 billion oil revenue. This is a 24.1 percent rise from the...
The international oil benchmark, Brent crude, rebounded in the early hours of Tuesday morning, hitting the $67.88 per barrel mark. This is the highest level since...
The continuous face off between Nigeria National Petroleum Corporation (NNPC), oil companies and host communities came at a huge cost for Nigeria’s oil revenue in 2020....
On Friday morning oil price rose by 1 percent after dropping 3.8 percent on Thursday after observers predicted it will take weeks to remove the giant...
Crude oil price fell below $64 following weeks of surge in market price. The Brent crude price, which is also used as a price indicator for...
Crude oil sells above $69 as it continues to respond positively to the agreement of Organisation of Petroleum Exporting Countries (OPEC) and its allies to maintain...
The National Petroleum Investment Management Services, (NAPIMS), a subsidiary of the Nigerian National Petroleum Corporation, (NNPC) has disclosed it incurred N126.17 billion expenses in January. Out...
Crude oil prices fell on Monday evening after pushing above $70 a barrel in the early hours, as dust from Saudi Arabia attacks settled. In the...
Crude oil price opened the week on Monday trading at $70 per barrel more than two percent it traded on Friday following reports of attacks on...
The Nigerian Government has been earning more than it earmarked for the 2021 budget due to the rising prices of oil. The Federal Government’s budget had...
Nigeria’s currency on Thursday recorded 1.1 percent appreciation to close at N406.50 against the dollar. This represents a N4.50 gain when compared to N411 recorded on...
The Federal Government has described as a welcome development the rising price of crude oil in the global market, saying, “this is a good omen for...
The Federal Government has inaugurated the Nigerian Upstream Cost Optimisation Programme (NUCOP) to drive down the cost of crude oil production in the country, Minister of...
The international oil benchmark, Brent crude, rose further on Thursday, trading near $59 per barrel according to data from Oilprice.com. As at 11.00am Nigeria time, data...
For seven years, crude oil lifted from Nigeria between 2005 to 2012 worth over $20 billion was unaccounted for according to the House of Representatives. Chairman,...
The uptick in crude oil price pushes the Federal Government closer to its revenue projection, as tight control on oil production by OPEC members is expected...
The Nigerian National Petroleum Corporation (NNPC) has announced a trading deficit of N1.22 billion for September last year. The corporation announced this in the September 2020...
Nigeria’s foreign reserve has increased to $36.30 billion as of January 14, the latest figures by the Central Bank of Nigeria (CBN) have revealed. The new...
The Nigerian National Petroleum Corporation (NNPC) on Thursday dismissed as unfounded and total falsehood, a report on missing 48 million barrels of crude oil. The Group...
The Nigerian government is revising its 2020 budget to assume an oil price benchmark of $20 a barrel, Zainab Ahmed, the Finance Minister, said Tuesday during...
Despite an increase in pipeline vandalisation cases by 50%, Nigeria posted crude oil and gas export sales revenue of $434.85 million in January, the latest Monthly...
The African Development Bank (AfDB) has refuted a claim in news reports that it plans to provide financial support to the East African Crude Oil Pipeline...
Nigeria’s premium crude oil grade, Bonny Light, dropped to about $12 or $13 per barrel this week, according to traders monitoring the West African Market. The...
Rallying from the immediate dip that happened after the historic production cut deal between the Organisation of Petroleum Exporting Companies (OPEC) and its Russia-led allies, oil prices inched...
Nigeria has allied itself with the Organisation of Petroleum Exporting Countries (OPEC) to reduce global crude oil production by 10 million barrels per day (bpd) between...
Nigeria’s Bonny Light is defying the price slash strategy intended to attract buyers just as refineries in India are adopting production cuts and European plans are...
The Naira slumped in value against the dollar on Thursday, exchanging for between N405 and N420 at Bureaux De Change (BDC) in the country. The persistent...
The Nigerian government has discovered about one billion barrels of crude oil in North East part of the country, a minister in charge of the petroleum...
The Federal Government (FG) posted a deficit of N3.73 trillion in its crude oil revenue between January and December 2019, a report from the Central Bank...
Nigeria’s daily oil output shortfall of 80,000 barrels was the biggest among the Organisation of Petroleum Exporting Countries (OPEC) for December 2019 according to ship-tracking data...
Oil prices rose by over one per cent on Monday as escalation in the tension between Tehran and Washington, following the assassination of top Iranian commander...
A Central Bank of Nigeria (CBN) report has revealed an N88.22 billion plunge in the nation’s earnings from crude oil sales for the month of November...
The Nigerian National Petroleum Corporation (NNPC) said on Sunday, the country crude oil and gas exports rose to $355.93 million in September. This figure was higher...
The House of Representatives has moved to end the burning of seized bunkered petroleum resources due to its impact on the environment. Following a motion moved...
The Nigeria Extractive Industries Initiative (NEITI) on Wednesday said crude oil and refined products worth $41.9 billion were stolen from Nigeria in the last 10 years....
The Minister of Communications and Digital Economy, Dr Isa Ibrahim, has claimed that the Information and Communication Technology (ICT) sector currently contributes more to Nigeria’s Gross...
The Nigerian Navy has arrested 18 male sailors, including one Indian, for allegedly attempting to illegally export stolen crude oil to Ghana. Executive Officer, Nigerian Navy...
Reluctance by European buyers over high prices has left about 20 cargoes of Nigerian crude oil from April loading unsold, Reuters has reported. The reluctance of...
The Nigerian Navy has said it has arrested 19 fake personnel caught with its identity cards and camouflage in different parts of the country. According to...
Crude oil prices in the international market witnessed a robust leap, hitting the $70 dollar mark on Thursday, the first time since November, 2018. This is...
Figures made available by the Central Bank of Nigeria, CBN, have shown that the country’s foreign exchange reserve has hit a six months high at $44.14...
There are indications that crude oil imports from Nigeria could be further threatened with the country’s highest oil buyer, India, signing an agreement to import 0.6...
A survey by S&P Global Platts has revealed that Nigeria pumped 190,000 barrels per day of crude oil in February above its agreed quota under the...
Crude oil production by the Nigerian Petroleum Development Company, NPDC, a subsidiary of the Nigerian National Petroleum Corporation, NNPC, has increased by 57,000 barrels per day....
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has said that the Federal Government through the Economic and Financial Crimes Commission (EFCC) has started...
The price of crude oil at the international market strengthened to $62.90 per barrel on Monday, a 20 cent increase from last weekend’s closing price. The...
