Tag: crude oil
Qatar to spend $200bn despite oil price drop
Qatar will stick to its $200-billion (190 billion-euro) infrastructure spending splurge, the energy-rich Gulf state’s premier vowed on Sunday, despite…
Crude oil price likely to stabilise at $50-60
World crude prices are expected to gain this year or at least stabilise at between $50 and $60 a barrel,…
We are handicapped to import petrol – Major Marketers
The Major Oil Marketers Association of Nigeria (MOMAN) says its members are handicapped to import refined petro products following the…
Petrol scarcity: NNPC set to import 1billion litres in March
The Management of the Nigerian National Petroleum Corporation (NNPC) on Monday began fresh measures to halt what it described as…
Oil price will rise to $65, Iraq predicts
Iraqi Oil Minister Adel Abdel Mahdi said Sunday he expects the price of crude oil, which dropped to a six-year…
Senate reduces oil benchmark to $52
The Senate on Tuesday, reduced the oil benchmark from 65 dollars to 52 dollars. NAN reports that this is the…
World oil prices edged higher Monday
World oil prices edged higher Monday on lingering optimism over falling United States production. US benchmark West Texas Intermediate (WTI)…
Oil prices rise above $60 per barrel
Crude oil rose above 60 dollars a barrel on Friday for the first time this year, bringing gains this week…
Oil prices up in Asian trade
Oil prices rose in Asia Friday, extending solid gains in the previous session in response to news that leading petroleum…
Crude oil money not missing, NNPC claims
The Nigerian National Petroleum Corporation (NNPC) on Wednesday said that the report of the forensic audit carried out on its…
Tourism As Alternative Revenue Spinner
As the reality of continuous fall in the price of crude oil dawns on the nation, the tourism sector with…
Oil prices extend gains as OPEC cuts output forecast
Oil prices advanced further on Monday as OPEC forecast a reduction in US output amid a dip in North American…
Oil prices tumble further in Asia
Oil prices tumbled further in Asia Tuesday, with weak global demand and an oversupply dictating the trend for the commodity,…
Jonathan Tired, He Should Go Home —Egberongbe
The lawmaker representing Apapa constituency 2 at the Lagos State House of Assembly, Mufutau Egberongbe, is one of many Nigerians…
Crude oil prices down further
Oil prices tumbled again Monday, while most Asian stock markets also retreated after a sell-off in New York at the…
Crude Oil Crash: FG finds 13 alternative revenue to oil, says Aganga
The Federal Government has marked out 13 National Strategic Export Products meant to replace the petroleum products which prices have…
US stocks down as oil hits fresh multi-year low
United States stocks fell again Tuesday on another stormy day for global financial markets as oil prices plummeted to a…
Nigeria hit as oil trade near five-year low
Almost half of Nigeria’s cargoes due to be exported in January are still available, Reuters has reported, even as oil…
End Of National Cake
By Oyebanji Oluwagbenga Crude oil was discovered during the pre-independence era in Nigeria. Oil price first rose in 1973 from…
We forecasted crude oil price crash – Jonathan
President Goodluck Jonathan on Tuesday in Abuja said that the falling price of crude oil did not take his administration…
Oil prices slide to new five-year low
Global oil prices slid to new multi-year lows Monday after a top OPEC official suggested that speculation largely was driving…
Oil losses continue after OPEC maintains output
Oil extended losses in Asian trade Friday after the OPEC cartel refused to cut production despite a global glut that…
Oil extends losses ahead of key OPEC meeting
Oil prices retreated further in Asia Thursday on expectations the OPEC cartel will keep production at present levels despite pressure…
JTF uncovers depot, trucks for stolen crude
The Joint Task Force (JTF) in the Niger Delta, Operation Pulo Shield, said it had destroyed a depot for stolen…
Nigeria facing serious challenges amid oil price collapse
Nigeria has made pragmatic moves to curb spending to offset falling global oil prices, analysts said, but blamed corruption for…
Crude Oil Crash: PENGASSAN wants politicians to cut unnecessary spending
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has advised political office holders and politicians to prune…
Fresh concerns as oil prices down in Asian trade
Oil prices extended their losses in Asia Tuesday after Japan’s economy slumped into recession, while prospects for an OPEC output…
2015: Govt spendings to drop by N.2trillion, says Iweala
The Minister of Finance, Dr Ngozi Okonjo-Iweala, says the Federal Government has proposed a review of the oil benchmark from…
World’s first oil well still bubbling crude oil
by Stanislaw Waszak/AFP The smell of money hangs thick in the air as black crude oil bubbles up from what…
OPEC to keep production ceiling at summit
OPEC will keep its production ceiling steady at its “toughest ever” meeting this month, a former adviser to oil kingpin…