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...
The Department of Petroleum Resources (DPR) has declared that it generated about N742.472 billion in revenue in the 8-month period from January to August, the government...
Nigeria’s crude oil production went up by 9% to 1.353 million barrels per day (bpd) in August relative to 1.361 million bpd in July, data from...
President Muhammadu Buhari and Saudi Arabia’s King Salman bin Abdulaziz discussed measures taken to stabilise and restore the balance of global oil markets in a telephone...
Nigeria’s perennial foreign exchange shortage is squeezing life out of Africa’s largest economy, Bloomberg reported on Monday. Banks won’t honour card payments, foreign investors can’t get...
Oil prices fell on Thursday following the resolution by the Organisation of the Petroleum Exporting Countries (OPEC) and its Russia-led allies to relax record production curbs...
The Organisation of the Petroleum Exporting Countries (OPEC) Tuesday said Nigeria’s monumental cost of servicing debts could stand in the way of economic productivity. Nigeria has...
Nigeria’s crude export earnings in the five year period from 2015 to 2019 came to $206.06 billion, the Organisation of the Petroleum Exporting Countries (OPEC) said...
Oil prices posted modest gains on Tuesday, reversing earlier losses as optimism regarding additional cuts in crude output dampened the fears that a resurgence of fresh...
The Nigerian National Petroleum Corporation (NNPC) has said it will end its crude sales discount regime next month. Mele Kyari, the Group Managing Director, made the...
Oil prices strengthened on Monday, two days after world major producers consented to sustain a deal on historic production cuts to the end of July just...
The Organisation of Petroleum Exporting Countries (OPEC) and its allies, OPEC+ on Saturday agreed to extend their record output cuts by one month. In a statement...
The prices of oil in the international market witnessed a surge on Wednesday, with Brent, Nigeria’s flagship crude grade rising to $40 over continued optimism that...
Oil prices dipped by almost 1% on Monday as traders played safe with the Organisation of the Petroleum Exporting Countries contemplating a meeting this week to...
Oil prices dipped for the third straight day Friday, setting in motion its first weekly loss in two fortnights and a week, as U.S. stock statistics...
Nigeria has reviewed its oil export programmes for May and June downward in conformity with a global production cut agreement led by the Organisation of the...
The Organisation of Petroleum Exporting Countries (OPEC) has said there will not be a rebound in the global demand for crude until the second half of...
A surplus of Nigerian crude weighed on the international oil market on Tuesday with lower demand from China than in the past couple of weeks. Nigeria...
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...
Oil prices plunged Thursday by as much as 12% as the deal to cut global production by 10 million barrels per day (bpd) failed to wow...
The Organisation of Petroleum Exporting Countries (OPEC) Thursday agreed to another cut in production adding up to 1 million barrels per day (bpd) among its fourteen...
The downtrend in the oil market reached a new nightmarish height Thursday as the Brent (against which Nigeria’s Bonny Light is benchmarked) tumbled to $51 a...
Indications emerged on Monday that Organisation of Petroleum Exporting Company (OPEC) and its allies might extend its current production cuts or even deepen them to buffer...
The Federal Government’s (FG) hope of achieving a seamless implementation of its 2020 budget suffered a set back Wednesday following the release of the Organisation of...
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...
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 Ijaw Youth Council (IYC) Worldwide, on Saturday called for an end to oil importation, urging the federal government to take practical measures to curtail importation...
The Organisation of Petroleum Exporting Countries (OPEC) and the non-member countries of the organisation on Tuesday signed a draft `Charter of Cooperation’ in a bid to...
Prices of oil on Monday rose by one per cent despite tension in the Middle East and the supply cut by the Organisation of Petroleum Exporting...
Price of crude oil on Monday hit the highest since November 2018 to sell at $70.76 per barrel. This follows the ongoing oil supply cut by...
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...
Sentiments, speculation and rumours have been identified by the Organization of Petroleum Exporting Countries, OPEC, as some of the major determinants of developments in the global...
The prices of crude oil rose on Monday as hopes for an end to the year long tariff row between the United States and China approached...
The crude oil production cut deal agreed by members of the Organization of Petroleum Exporting Countries (OPEC) and its allies late last year has been implemented...
President Muhammadu Buhari has said Nigeria may consider cutting her crude oil output as a way of helping to shore up prices of the commodity at...
Nigeria’s crude oil production including condensate has taken a dip, falling to 1.999 million barrels per day in January from 2.081 million bpd in December, figures...
With expectations that the nation will increase its oil production, consolidated by price moderation efforts of the Organization of Petroleum Exporting Countries (OPEC), the Nigeria Extractive...
The implementation of Nigeria’s 2019 budget is faced by a fresh threat as crude oil production adjustment agreed by member countries of the Organisation of Petroleum...
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...
The annual report of Moody’s Investors Service has predicted that prices of Oil and natural gas will be volatile in 2019. The report, which outlined key...
THE execution of Nigeria’s 2019 budget will likely encounter a serious threat as the price of Bonny Light, the nation’s premium oil grade, yesterday, hovered at...
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...
The Federal Government’s revenue target for the 2019 budget has again run into murky waters as the Organization of Petroleum Exporting Countries (OPEC) has cut Nigeria’s...
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...
Prices of crude oil in the international market have rebounded after the most recent production cut deal reached by the Organization of Petroleum Exporting Countries (OPEC)...
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said the Organisation of Petroleum Exporting Countries (OPEC) did not grant Nigeria further exemption in...
The Organisation of Petroleum Exporting Countries (OPEC) may find it hard convincing Nigeria to accept a crude oil production cut, as the Minister of State for...
