Oil producing country, Angola, a key member of the Organization of the Petroleum Exporting Countries (OPEC) since 2007, has declared its intention to leave the organization...
The President of the Nigerian Senate, Godswill Akpabio, on Monday, agreed with the often repeated line that oil has been a curse to Nigeria rather than...
Former Governor ofthe Central Bank of Nigeria (CBN) and the 14th Emir of Kano, Sanusi Lamido Sanusi, has given a recipe for Nigeria’s economic growth and...
The Minister of State for Petroleum Resources, Heineken Lokpobiri, said on Friday the Federal Government planned to increase crude oil production to two million barrels per...
Macroeconomic intelligence provider, FocusEconomics, has disclosed in its April 2023 Consensus Forecast report that Nigeria faces a fiscal risk due to various government policies. The report...
Domestic oil and gas company, Eterna Plc, recorded a decline in its foreign exchange forward contract, but managed to raise its total revenue for the year...
The Group Chief Executive of the Nigerian National Petroleum Company Limited (NNPC) Limited, Melee Kyari, said on Friday the company has discovered oil in Nasarawa State....
The Director-General of the Nigeria Employers’ Consultative Association (NECA), Adewale-Smatt Oyerinde, said on Friday the country loses $2.5 billion in oil revenue monthly. Oyerinde, who disclosed...
Angola and Libya have overtaken Nigeria as Africa’s biggest crude oil producers. The Organisation of the Petroleum Exporting Countries (OPEC) disclosed this in its Oil Market...
An economist and former presidential aspirant, Kingsley Moghalu, on Friday, condemned Nigeria’s over-reliance on oil as the major source of income. Nigeria has been lately enmeshed...
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...
Glencore, a mining and commodities trading firm, that paid bribe to some officials of the Nigerian National Petroleum Corporation (NNPC) to obtain an oil contract, has...
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...
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...
Oil prices continued to surge on Monday morning and hit $140, the highest level since the administration of Umaru Musa Yar’Adua. Data from Reuters showed that...
Oil prices traded near to $100 per barrel on Tuesday as tension between Russia, the world’s largest crude producer, and Ukraine intensified. On Wednesday data from...
A floating crude oil-producing vessel called Trinity Spirit owned by Shebah Exploration and Production Company Limited (SEPCOL) has exploded and sank on Wednesday at the Ukpokiti...
OPEC and non-OPEC members on Wednesday agreed to increase the oil production quota by 400,000 (0.4 million) barrels per day. This decision was reached at the...
For the record and for posterity, it is imperative to state that oil found in the Niger Delta region belongs to the people of the area....
What should have been good news for Nigeria is set to be a fiscal headache as the international benchmark for oil prices surged above $85 per...
The lead story in This Day newspaper of December 30, 2021 brought the year to a close with a reminder of one of the many ills...
President Muhammadu Buhari has expressed his desire to see oil discovered in two Northeast states of Bauchi and Gombe According to him this will balance the...
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...
A faction of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has directed its members to suspend the supply and distribution of petroleum products to its...
As politicians argue over the 3 or 5 percent community allocation in the Petroleum Industry Bill (PIB) data shows that export markets for Nigeria’s crude oil...
The House of Representatives on Thursday rejected a motion seeking the declaration of Bauchi as an oil and gas producing state. A member of the House,...
The Organisation of the Petroleum Exporting Countries Plus (OPEC+) will consider loosening the grip on crude oil price as it skyrockets to its highest in a...
Oil slid from its peak levels in seven months on Thursday, with intimations of larger production contributing to end a rebound fuelled by the hope that...
The Nigerian National Petroleum Corporation (NNPC) confirmed on Thursday that the recently discovered oil in the Benue Trough was in commercial quantity. The Group Managing Director...
Oil prices lifted higher on Monday, recovering some of the grounds lost at the Friday session, with the optimism that the Organisation of the Petroleum Exporting...
Oil prices lifted further on Wednesday as the optimism that a vaccine, developed by Pfizer and BioNTech, will turn out 100 per cent effective in treating...
Oil prices climbed by around 3% on Wednesday following U.S. President Donald Trump’s false claim to electoral victory in a keen race at a time millions...
President Muhammadu Buhari has said at N161 per liter for petrol pump price Nigeria sells at cheaper price than many oil producing countries. He said that...
Oil extended gains on Wednesday, advancing by over 2%, as a hurricane halted offshore operations in the United States oil and gas sector and an industry...
Oil prices slid for a second day on Friday, as a shock build in the United States crude inventories hurt already weakened sentiment, with the coronavirus...
Oil climbed to $46 per barrel on Wednesday, advancing for a third day, backed by a report that U.S. crude stockpiles fell and as surveys reflecting...
Crude oil rose further on Tuesday, with prices supported by optimism surrounding U.S. stimulus and a recovery in Asian demand as economies restart. Brent crude was up...
State-owned Nigerian National Petroleum Corporation (NNPC) has signed a $1.5 billion oil prepayment pact midwifed by Standard Chartered and backed by oil traders, Matrix Energy and...
The NSE’s transaction size crossed the 1.350 billion shares mark this week on sustained upward momentum in activities in three fortnights of trade. Yet, market the...
The Nigeria Extractive Industries Transparency Initiative (NEITI) Monday advocated a policy shift that would see the Nigerian government embrace a series of buffers and revenue generation...
The Securities and Exchange Commission (SEC) of the United States has quit its inquiry into the acquisition of an offshore oil asset in Nigeria in 2011...
The exchange rates of the US Dollar hovered between N365 and N369 at the Bureau de Change segment of the market on Tuesday. Owing to the...
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 downstream sector operator, Forte Oil has reported an impressive Q3 2019 earnings with profit after tax up by a whopping 1,408%. Forte Oil, whose financial...
Vice President, Prof. Yemi Osinbajo, on Friday revealed that the Federal Government had embarked on plans to crash Nigeria’s dependence on crude oil for survival. He...
Brent crude on Monday dropped in price again, shedding $1.09 to close at $60.82 per barrel. Also on Monday, reports by Reuters said that the oil...
The directives by Vice President Yemi Osinbajo aimed at easing traffic congestion in the Apapa area of Lagos State and ensuring the relocation of oil companies’...
Nigeria’s dependence on the oil sector as its major source of foreign exchange earnings was responsible for the country’s high unemployment rate, a former United Nations...
Nigeria’s foreign exchange reserves have dropped by over $1 billion in the last five weeks, available data from the Central Bank of Nigeria (CBN) showed on...
International Oil Companies (IOCs) operating in Nigeria may have devised means to compel the Federal Government into changing its fiscal policy on the Petroleum Industry Governance...
