In an effort to stop the ongoing vandalism of the assets, the Federal Government conducted a workshop on Thursday to set up a framework for the...
Minister of State for Petroleum Resources, Chief Timipre Sylva, on Saturday, disclosed that the country loses at least 700,000 barrels of crude oil to thieves every...
The former Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido, on Saturday demanded the disbandment of the Nigerian National Petroleum Company Limited (NNPC). Sanusi...
The Group General Manager, National Petroleum Investment Management Services (NAPIMS) of the Nigerian National Petroleum Company (NNPC) Limited, Bala Wunti, said works are ongoing to recover...
The United States government has expressed disappointment in the decision of the Organisation of the Petroleum Exporting Countries Plus (OPEC+) to cut production output. Ripples Nigeria...
The National Bureau of Statistics (NBS) has revealed that Nigeria earned N11.53 trillion from the export of crude oil in the first half of 2022. This...
Brent, the global benchmark for crude oil is now trading below $90 after hitting a record high in recent months. Industry figures seen in the early...
Hello, and welcome to the Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to...
For the third time in eight months, Nigeria is not Africa’s largest oil producer as production fell to 972,394 barrels per day in August. This was...
The Nigerian National Petroleum Company (NNPC) has failed to sell enough crude oil to offset its petrol subsidy debt to oil marketers in Nigeria. Data obtained...
The Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, has said Nigerians are behind the vandalism of oil pipeline in...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has launched an application for the monitoring of crude oil theft and pipeline vandalism. The cooperation launched the...
Hello, and welcome to the Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to...
Brent and the West Texas Intermediate (WTI) crude oil fell Tuesday evening, as the Organization of Petroleum Exporting Countries (OPEC) projected slow growth in demand for...
American company, Citigroup, has released a crude oil forecast that contradicts that of Goldman Sachs, with the former stating that the commodity will fall to $65...
Oil price is expected to reach $200 after a group of rich nations under the aegis of the G7 announces a plan to cap the price...
Global crude oil price went down -0.68% as Russia and European Union readjust to the restriction placed on the former. On Thursday evening, oil price depreciated...
Oil price is currently trading bearish following a push by President Joe Biden to bring down soaring fuel costs in the United States. In the early...
Nigeria is no longer Africa’s top oil producer following an abysmal oil production output in May the biggest decline among its peers at a time oil...
Details have emerged on how the Dangote Petroleum Refinery and Petrochemicals (DPRP) will operate after completion. The project which is expected to begin operation in the...
Nigeria and Russia are some of the biggest beneficiaries of Indian refiners’ high appetite for non-European and Middle Eastern crude oil last month, according to Analyst...
A new survey by S&P Platts has shown Organization of the Petroleum Exporting Countries (OPEC+) members failed to meet May oil production targets, with Nigeria being...
The Organisation of Petroleum Exporting Countries (OPEC) has put Nigeria’s oil production output at 1.32 million barrels per day, bpd, for April 2022. OPEC revealed this...
The oil market was up on Wednesday, with Brent crude selling at $109.06 per barrel, a rate last seen a day before April ended, as the...
The Nigerian National Petroleum Company Limited (NNPC) has revealed that Nigeria in the first three months of 2022 recorded $565.5 million export sales of crude oil...
The Federal Government on Wednesday announced that the Port Harcourt Refinery would commence operations by the first quarter of 2023. The Minister of State for Petroleum...
Nigeria’s position as Africa’s largest oil producer is now seriously under threat at a time oil prices are averaging $100 per barrel. The Group Managing Director/CEO...
In July 2015, Nigerian President, Gen. Muhammadu Buhari, fresh from that year’s presidential election victory after three failed successive attempts visited the United States of America...
The Federal Government has pledged to ensure a stop to incidences of pipeline vandalism and crude oil theft in order to ensure maximum production in the...
Nigeria’s crude oil grade, Bonny Light is trading at $116.1 per barrel the second most expensive in the international crude oil market. Nigeria’s crude oil price...
Libya could become the number one oil-producing country in Africa amid Nigeria’s struggles. Data from the Organisation of Petroleum Exporting Countries (OPEC) Monthly Oil Market Report...
Russia is currently auctioning its crude below the market price to willing buyers as Europe and United States severe ties with Kremlin over its ongoing show...
Nigeria was not mentioned among countries Europe will be heavily relying on to help cushion Russia’s threat to withhold supply of crude oil to the international...
The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that in 10 years the total aggregate financial flows from the oil and gas sector to the...
As many countries shift away from buying Russian oil, new export opportunities have opened up for Nigerian crude which is regarded as one of the best...
Today could be the day after seven years, that oil price could finally hit the $100 per barrel threshold as the tension between Russia and Ukraine...
The Anambra State Government has announced that it would begin earning a 13% derivation income in March, in accordance with the state’s status as an oil-producing...
Algeria, one of Africa’s oil-producing nations has concluded plans to begin payment of N41,500 monthly to its unemployed youths amid the rising price of crude oil....
As an oil-producing country and a member of the global oil cartel, Nigeria should be rejoicing that oil price is getting closer to $100, however, the...
Nigeria’s hope of escaping its financial woes is far from close, as once again, the Organisation of Petroleum Exporting Countries (OPEC) has ranked the country among...
India, the biggest buyer of Nigeria’s crude oil is currently scouring other markets for crude as its state-owned refineries look to meet annual output targets. According...
World’s largest independent crude oil trader, Vitol, believes people might stop purchasing the commodity as price rises in global market – a situation being experienced in...
Nigeria will be getting a payment alert of N249.3 billion in January from six multinational oil companies operating in the upstream sector for domestic crude oil...
The Delta State Governor, Ifeanyi Okowa on Tuesday forwarded an executive Bill to the State House of Assembly to promulgate a law for the forfeiture of...
Nigeria regained its position as Africa’s leading oil producer after losing it to Libya in October. According to the most recent data from the Organization of...
The Nigeria National Petroleum Corporation (NNPC) found it difficult to get buyers for Nigerian oil produced in the month of September depriving the government of much-needed...
President Joe Biden has said the United States will release 50 million barrels of crude oil from the nation’s Petroleum Reserve, in an attempt to reduce...
The Nigerian economy started 2021 with much exuberance, having recovered from the second recession under the present administration in the fourth quarter of 2020. After the...
Troops of Operation Delta Safe, conducting land, maritime and air operations to counter activities of criminal elements in the South-South zone have demobilised over 20 illegal...
A road traffic accident involving a trailer and a bus at Okeohia on Ihialla-Owerri Expressway, Anambra, has resulted in the death of the bus driver. The...