Tag: crude oil
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…
Cairn Energy says locates more oil off Senegal
Cairn Energy has unearthed another oil find off the coast of Senegal, the British energy explorer announced on Monday. It…
Crude oil: 40 Nigerian cargoes await buyers
Around 40 Nigerian crude oil cargoes were still available out of 63 loading in November, traders said on Monday, according…
Boko Haram dims hopes of crude oil exploration in the north
Social and economic development has long been touted as the way to revive the fortunes of Nigeria’s impoverished north and…
Bunkering: Navy destroys 53 illegal refineries
The Nigerian Navy Ship (NNS) Delta, Warri, said on Saturday that it has destroyed 53 illegal refineries in Ashafama forest…
OPEC trims 2014 oil demand growth forecast
The OPEC oil cartel trimmed its 2014 forecast for global oil demand growth on Friday after weaker-than-expected economic growth in…
India largest importer of Nigeria’s crude oil
The Nigerian National Petroleum Corporation (NNPC) on Thursday said India had replaced the United States as the largest importer of…
Oil prices rise on eve of OPEC meeting
Oil prices rose further on Tuesday, the eve of OPEC’s meeting to decide on crude output levels, while energy market…
Let The Budget Be Signed This Month
By John Tosin Ajiboye On December last year when the 2014 Appropriation bill was sent from Executive to the National…
Shell resumes oil exports in Nigeria
Anglo-Dutch oil group Shell has resumed crude oil exports from a key terminal in southern Nigeria after repairing a sabotaged…
NNPC And The Missing $49.8bn
Last week, Nigerians were shocked to learn that $49.8bn crude oil sales proceed was missing from the federation account. The…
Bleak future for OPEC nations as oil demand falls
PARIS (AFP)The International Energy Agency has trimmed its outlook for oil demand over the next 18 months and highlighted threats…
Shell Again Shuts Major Oil Pipeline
Shell has shut a major pipeline in Nigeria for the second time in less than a month after locating another…