FEC approves N13.08trn budget proposal for 2021
The Federal Executive Council (FEC) on Wednesday in Abuja approved budgetary proposal of N13.08trillion for 2021 fiscal year. The Minister of Finance, Budget and National […]
Oil
Niger Delta region has more than oil to offer- Agba
Mr Clement Agba, the Minister of State for Finance, Budget and National Planning, says the Niger Delta region has more than oil to offer the country. […]
Oil prices slip on potential return of Libyan output; Gulf storm supports
Oil prices fell on Monday on the potential return of output from Libya as rising coronavirus cases also added to worries about global demand, although […]
Oil extends losses as stockpile rise amid weakening demand
Oil prices fell for a second day on Friday, pressured by a surprise rise in U.S. stockpiles as the coronavirus pandemic continues to erode demand […]
Oil extends losses as stockpile rise amid weakening demand
Oil prices fell for a second day on Friday, pressured by a surprise rise in U.S. stockpiles as the coronavirus pandemic continues to erode demand […]
Oil prices fall on demand fears as U.S. summer driving season ends
Oil prices fell on Tuesday amid concerns over fuel demand as the peak U.S. driving season drew to a close and the U.S. Labour Day […]
NIMASA key in stopping country’s oil dependence — Gov. Diri
The Governor of Bayelsa, Sen. Duoye Diri, on Monday said that the Nigerian Maritime Administration and Safety Agency (NIMASA) was key in weaning Nigeria from […]
Deregulation of petrol prices will help avert negative consequences—Buhari
President Muhammadu Buhari says there will be negative consequences if the government continued with the business of fixing or subsidising the prices of […]
Oil drops more than $1 after Saudi price cuts, demand optimism fades
Oil prices dropped more than $1 a barrel on Monday, hitting their lowest since July. The drop is coming after Saudi Arabia made the deepest […]
Oil prices hold near multi-week lows on demand worries
Oil prices edged up on Thursday, but held near multi-week lows hit overnight after U.S. data showed gasoline demand fell and recovery from the COVID-19 […]
Oil prices rise on stimulus support and China data, set for monthly gains
Oil prices nudged up on Monday, with Brent futures set to post a fifth straight monthly gain, as global stimulus measures underpin prices even as […]
Society of Petroleum Engineers gets new officers, pledges help to reposition oil, gas industry
The Society of Petroleum Engineers (SPE) Nigeria Council says it is ready to work with stakeholders to reposition Nigeria’s oil and gas industry post-COVID pandemic. […]
Oil drifts down as U.S. producers, refiners avoid worst of storm
Oil prices fell on Friday as a massive storm raced inland past the heart of the U.S. oil industry in Louisiana and Texas without causing […]
Oil slips as demand fears outweigh strong U.S. stocks draw
Oil prices eased on Wednesday on concerns that U.S. fuel demand may not recover as quickly as expected amid stalled talks on an economic stimulus […]
Oil prices advance as China ramps up U.S. crude imports
Oil prices rose on Monday as China’s plans to ship in large volumes of U.S. crude in August and September outweighed concerns over a slowdown […]
Oil pipeline vandalism dropped in May, says NNPC
The Nigerian National Petroleum Corporation (NNPC) has recorded an encouraging 43 per cent drop in cases of willful damage of its oil pipeline infrastructure by […]
Oil prices snap four-day winning streak as COVID-19 cases grow
Oil prices fell for the first time in four days on Wednesday, slipping from as much as five-month highs as mounting coronavirus cases worldwide and […]
Revealed: Top Nigerian officials fall victim to shadowy Mexican oil syndicate – Report
New revelations have emerged about how Nigerian officials have fallen victim to Mexican oil syndicate. A thorough investigation by Premium Times gives an account of […]
Oil extends losses as coronavirus spike cools demand hopes
Oil prices slid for a second straight session on Monday as coronavirus cases rose in the United States and other places, leading some countries to […]
Oil prices gain with OPEC+ holding the line on supply cuts
Oil prices rose more than one per cent on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet […]
Our role in recovery of $55 billion from oil firms for Buhari’s Govt – Trobell
An oil and gas consultancy firm, Trobell International Limited has given an account of how it helped the federal government recover over $55 billion in […]
Atiku to FG: Liberalise the downstream oil sector
Former Vice President of Nigeria and Presidential candidate of the Peoples Democratic Party (PDP) in the 2019 election, Atiku Abubakar has again called on the […]
COVID-19: Time for Nigeria to look beyond oil – Uba
A development and governance expert, Dr. Chiwuike Uba, has commended the decision of the Organisation of Petroleum Exporting Countries (OPEC), to cut down oil production […]
No conflict between Bauchi, Gombe over oil discovery – Gov Mohammed
Governor Bala Mohammed of Bauchi states says there is no conflict between Bauchi and Gombe states over oil discovery in border communities of the states. […]
Nigeria can’t recover lost ground from Amended Deep Offshore Act – Expert
Prof. Wunmi Iledare, former President Nigerian Association for Energy Economists (NAEE), says Nigeria will not recover its lost revenue with the signing into law the […]