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...
Fears that Nigeria’s 2019 budget may suffer huge revenue short fall may be abetted as the prices of crude oil in the international market rebounded on...
Crude oil prices got more than 1.5 percent boost on Monday on hopes that talks in Beijing can resolve a trade war between the United States...
Daily production of crude oil by Nigeria increased by 9 percent in 2018 to 2.09 million barrels compared to the 1.86 million barrels daily production in...
The prices of crude oil again fell on Thursday after a marginal rally on Wednesday by more than one per cent. Prices had rebounded more than...
A newly released audit report by the Nigeria Extractive Industries Transparency Initiative (NEITI) has put Nigeria’s total earnings from crude oil at $677.9 billion, between 1999...
Nigeria’s 2019 Budget may face hiccups as the current crude oil prices in the international market has fallen below the Budget benchmark. On Monday, crude oil...
Except it attains a 100 per cent compliance with its new crude oil supply cut and count on continued production declines in Iran and Venezuela, the...
The prices of crude oil fell on Wednesday largely due to swelling supply glut and signs of an economic slowdown just a day before a crucial...
The Department of Petroleum Resources (DPR) on Monday revealed that Nigeria has lost its most valued crude oil buyers. According to the Director, DPR, Mordecai Ladan,...
The Nigerian National Petroleum Corporation (NNPC) has said its crude oil and gas export sale in August 2018 was $470 million, indicating an increase of about...
The Minister of State for Petroleum, Ibe Kachikwu, has said the decline in the nation’s crude oil production may likely continue into next year. According to...
Indications have emerged that the nation may soon begin to earn less from crude oil as the monthly volume of Nigerian oil imports into the United...
The Federal Government said it was working earnestly to ensure the diversification of the country’s export base and increase its non-oil exports to the Netherlands, the...
Speaker of the House of Representatives, Hon Yakubu Dogara, has advocated for local refining of crude oil to make fuel available and easily accessible to all...
The Hungarian Government has indicated interest to purchase crude oil and Liquefied Natural Gas (LNG) from Nigeria. The Hungarian Ambassador to Nigeria, Professor Gabor Ternak, who...
A few days after raising the alarm on the fraudulent activities of crude oil scammers, the Nigerian National Petroleum Corporation (NNPC) has provided further insights into...
Minister of State for Petroleum, Dr. Ibe Kachikwu, has said that Nigeria plans to target Africa as a main market for its crude oil and natural...
The last may not have been heard of the negative impact of the low crude oil output on Nigeria’s economy growth, as the country recorded the...
Nigeria is on the verge of signing a $6 billion deal with 10 companies for crude oil exchange for refined products to take off by July...
Security operatives in Nigeria have destroyed more than 15 illegal refinery facilities used by some youths in the Niger Delta area for crude oil refinning. A...
Crude oil shipment from West Africa to Asian countries is expected to reduce by about 4.3 per cent this April, going by data obtained from relevant...
Of the 597.207 million barrels of crude oil exported from Nigeria in 2016, India had the highest demand of 127.1 million barrels (35 per cent), beating...
The Nigerian National Petroleum Corporation (NNPC) has so far raked in about $500 million into government’s coffers from crude oil swap deals introduced in 2016, according...
Libya, the only country exempted with Nigeria from OPEC crude oil cuts has pumped more supply of the products to the international market, a situation that...
Crude oil output from the United States has sent signals that hope of sustainable increase in price of crud oil in the first quota of 2017...
The Federal Goveenment is making plans to construct a 1,000 kilometre pipeline from Niger Republic to the Kaduna Refinery. The pipeline, according to the Group Managing...
Nigeria’s crude oil output has risen to 1.9 million barrels per day (bpd) the Minister of State for Petroleum Resources, Ibe Kachikwu, has said. This is...
On November 1, President Muhammadu Buhari met with the Pan Niger Delta Elders Forum (PANDEF) after several delay and postponements. At the meeting held at the...
There is palpable tension in the Niger Delta region over a higher dimension of renewed hostilities in the oil rich region by militants. This is coming...
The much awaited meeting between OPEC members and non members of the oil producing cartel has led to another bout of oil price loss, making it...
There is no way Nigeria’s foreign reserves will not shrink as long more than 30 percent of the country’s earned foreign currency is used in importing fuel products annually, so says Finance Minister, Kemi Adeosun. She said also that food...
Despite high hope by Nigerians for some reprieve from the hardship caused by the recession, the Minister of Information and Culture, Alhaji Lai Mohammed, has predicted that this year’s Christmas might be celebrated without much relief. According to the Minister, until...
An international oil outfit, Baker Hughes, has noted that Nigeria has consistently shut down its offshore oil rigs from 12 to 8, recording four shutdowns between...
In a bid to regain its lost impact on the international oil market, Nigeria has opted to slash the official selling price of the country’s crude...
States and local governments in the country may be in for more hard times as allocation from the Federation Account dropped by over N80 billion for...
For a nation which economy is already officially in recession due mainly to reduced revenue generation, this is not good news. The Nigerian National Petroleum...
At least $376.5bn was lost as a result of militants’ attacks on gas facilities in Nigeria between June and September 2016. This resulted from a 45 per cent drop in production of the Joint Venture assets and the Nigerian Petroleum Development Company (NNPC) within the period. The NNPC latest monthly...
Oil prices fell Friday despite decision of the Organisation of Petroleum Exporting Countries (OPEC) to cut production by 200,000-700,000 barrels per day (bpd). This is after...
Member-countries of the Organisation of Petroleum Exporting Countries (OPEC) suffered 4 percent loss in price of crude oil at the weekend following heightened disagreement between two major producing countries and arch rivals: Saudi Arabia and Iran. Foreign news cable said the two...
Noticeable tension has gripped officials of the ministries, NNPC and its subsidiaries following the move by the Nigeria House of Representatives to commence probe into an...
Despite the assurance by the CBN Governor, Godwin Emefiele, that Nigeria’s economic woes were getting over, a global rating agency, Standard and Poor (S&P.), at the weekend downgraded the country into what it termed “junk...
A militant group, Niger Delta Greenland Justice Mandate, MDGJM, has blown up another major crude oil delivery pipeline belonging to the Nigerian Petroleum Development Company, NPDC,...
Following reports that Nigeria and Libya may be re-entering the international oil market, prices of crude fell in the early hours of Friday by 0.06...