Tag: crude oil
No offers for Nigeria’s crude
Offers for Nigerian crude oil dipped on Friday as a high proportion of oil for March export remained unsold and…
Crude oil rises after Russia agree OPEC talks
Crude oil rose on Wednesday, paring earlier losses, after fresh comments from Russia about its openness to talk with OPEC…
FG to save $1bn as NNPC ends crude oil swap
The Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu,…
We can do without oil to build a solid economy – Osinbajo
Despite the drop in oil prices, Nigeria has everything it needs to build and sustain a vibrant economy, Vice President,…
Militants attack crude oil pipeline in Bayelsa
A crude oil pipeline in Nigeria’s southern state of Bayelsa operated by the local subsidiary of Italy’s Eni was attacked…
If we fight corruption, it won’t matter if crude oil sells for $10 – Lai Mohammed
The Minister of Information and Culture, Alhaji Lai Mohammed, on Monday stated that if Nigerians join the current administration to…
Oil prices fall below $30 a barrel
US crude prices fell below $30 a barrel for the first time in 12 years on Tuesday as OPEC member…
Saudi posts record deficit, cuts fuel subsidies
Saudi Arabia announced a record budget deficit and cuts to fuel and utility subsidies as the oil powerhouse suffers from…
Court jails 5 foreigners for oil theft
A Federal High Court in Lagos on Tuesday sentenced nine foreigners to five years imprisonment for stealing 3,423 metric tons…
Demand for OPEC crude to rise by 1.2m barrels daily in 2016 – Kachikwu
Dr Ibe Kachikwu, the President, Organisation of Petroleum Exporting Countries (OPEC), says the demand for OPEC crude is expected to…
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Nigeria hits goldmine, finds crude oil in Lake Chad area – NNPC
Nigeria is “on the verge of a significant oil find” in the Lake Chad area of the northeast, NNPC managing…
Crude oil rises but glut keeps lid on gains
Oil rises on Tuesday but pressured by a glut in supply and worries about a fragile demand outlook. Brent crude…
Crude: Angola to load more cargoes, Nigeria down
Nigerian crude oil differentials remained under downward pressure on Friday, while early indications pointed to a larger number of Angolan…
Crude oil transportation contracts cut costs— Experts
The Federal Government’s decision to award marine transportation contracts for crude oil movements from terminals to the refineries is not…
Venezuela buys cargoes of Nigerian crude
Reuters – Venezuela’s state-run oil company PDVSA has bought three new cargoes of Angolan and Nigerian crudes for delivery at…
NIWA in talks with NNPC on delivery of crude oil to refineries
The National Inland Waterways Authority (NIWA) has initiated discussion with the Nigeria National Petroleum Corporation (NNPC) on how to deliver…
Diezani cheated Nigeria over $15b oil sale to India
The Indian High Commissioner to Nigeria, Ajjampur R. Ghanashyam, has revealed the dubious practice by former Minister of Petroleum Resources,…
Chief of Naval Staff vows to halt oil theft
The Chief of Naval Staff, Vice-Admiral Ibok-Ette Ibas, said on Sunday that oil thieves will no longer have the capacity…
Ugbo, only Yoruba town with huge crude oil deposits
The Olugbo of Ugbo Kingdom, Oba Fredrick Akinruntan, says his community remains the only Yoruba town blessed with huge deposits…
I’ll recover stolen oil money and prosecute culprits, says Buhari
President Muhammadu Buhari Tuesday in the United States vowed that his administration would trace the accounts of individuals who stashed…
Buhari blacklists 113 vessels from lifting Nigeria’s crude
President Muhammadu Buhari has authorised the Nigerian National Petroleum Corporation (NNPC) to blacklist 113 vessels from lifting crude oil from…
Halliburton Bribery: The Timeline of a Scandal
By Remi Oyeyemi “A mediocre with adequate information is at a better advantage compared to a genius without information.” –…
Spain buys €6.5bn oil from Nigeria
The Spanish Government on Tuesday said it bought oil and gas worth 6.5 billion Euros from Nigeria in 2014. The…
Shell lifts force majeure on Nigeria’s Forcados crude oil stream
LONDON, (Reuters) – Shell has lifted a force majeure on exports of Nigeria’s Forcados crude oil stream that had been…
Agip Fire Halts 20k bpd Production –ENI
A fire at two crude oil storage tanks at Agip’s Ebocha plant in Nigeria’s Rivers State has shut down production…
Nigeria crude differential hits 10-year low as glut takes toll
LONDON (Reuters) – Official prices for Nigerian crude have hit their lowest in at least a decade as a nagging…
EFCC arraigns businessman over stolen crude oil
The Economic and Financial Crimes Commission, on Wednesday arraigned one Elder Christopher Andrew Isibor before Justice Ibrahim Buba of the…
I’ll focus on agriculture, mining, not crude oil – Buhari
Nigeria’s president-elect, General Muhammadu Buhari, on Sunday in Abuja said he would shift attention from oil to agricultural and mining…
NNPC searching for oil in Chad Basin
The Nigerian National Petroleum Corporation (NNPC) said it was set to resume oil search in the Chad Basin following the…
The Multi-Billion Dollar Crude Oil Theft Fence!
By Taiwo Lawrence Adeyemi “We are winning the war against Crude Oil Theft”, says Lt Col Ado Isa, Media Coordinator,…