Tag: crude oil
Confronting The Curse Of Oil By Reuben Abati
The monthly Federation Accounts Allocation Committee, FAAC, meeting was held the other day in Abuja, with the representatives of state…
Nigeria loses N137.9bn monthly on shipment of crude oil
The president, Nigeria Indigenous Ship Owners Association (NISA), Aminu Umar, said the nation was losing 700 million dollars monthly (N137.9…
Crude oil prices rise
Brent crude was on track for its third weekly gain on Friday, supported by an optimistic report from the International…
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…