Tag: oil
IMF warns Nigeria of debt, oil and revenue risks despite reform progress
The International Monetary Fund (IMF) has warned Nigeria to guard against rising debt and fiscal risks even as it praised…
Nigeria strengthens oil export chain with new 365,000-bpd Otakikpo terminal
The $400 million facility, located in Ikuru Town, Andoni Local Government Area, can handle 365,000 barrels per day. It is…
How fuel marketers plan to adjust pump prices after Dangote’s policy shift
IPMAN National President, Abubakar Maigandi, disclosed on Saturday that the 650,000-barrel-per-day refinery notified its customers, including
UNGA: After years of stagnation, Nigeria revives oil sector for global players
Lokpobiri stressed that Nigeria’s oil sector is undergoing a transformation:
Government, communities to finalize modalities for Ogoni oil restart
The discussions included demands for fair participation in oil production, faster environmental cleanup, and long-term development projects.
Oil workers raise alarm over secrecy in planned asset sales
The unions pointed out that important exploration projects in places like Benue Trough, Anambra Basin, Sokoto Basin, and others have…
Oil prices drop as OPEC plans to increase output
Investors are also watching the effects of new U.S. tariffs. President Donald Trump has warned of strong tariffs on countries…
Israel-Iran conflict triggers global oil price surge
Prices for Brent crude, NYMEX Light Sweet, and West Texas Intermediate (WTI) futures rose by between 9 and 10 percent,…
People, Nigeria’s greatest asset – Ex-Finance Minister
Vice- President, Islamic Development Bank (IDB) and Former Minister of Finance, Dr Mansur Muhtar, says the greatest potential Nigeria needs…
Oil gains amid U.S-China trade deal hopes
Oil prices extended gains into a second session on Wednesday, buoyed by rekindled hopes for a U.S.-China trade deal and…
Oil slips to $71, hit by talk of higher OPEC production
Brent oil slipped to around 71 dollars a barrel on Tuesday, pressured by expectations of higher U.S. inventories and concern…
Oil pauses; focus on future supply direction
Oil prices nudged lower on Monday after international benchmark Brent hit a fresh five-month high in the previous session, with…
Oil hovers below 2019 highs amid OPEC supply cuts, U.S. sanctions
Oil hovered slightly below 2019 peaks on Friday, propped up by ongoing supply cuts led by producer club OPEC and…
Oil slips on economic slowdown
Oil prices dipped on Monday amid concerns that an economic downturn may dent fuel consumption, but crude markets remain broadly…
Oil prices rise on OPEC-led supply cuts
Oil prices rose on Monday, lifted by comments from Saudi oil minister Khalid al-Falih that an end to OPEC-led supply…
Oil edges up amid OPEC cuts
Oil edged up on Thursday amid ongoing OPEC-led supply cuts and U.S. sanctions against exporters Venezuela and Iran, although prices…
Oil ticks over near 2019 highs amid OPEC cuts
Oil prices hovered close to 2019 highs on Thursday, bolstered by OPEC-led supply cuts and U.S. sanctions on Venezuela and…
Financial flow from oil, gas sector reduces to $17.05 in 2016 – NEITI
The Nigeria Extractive Industries Transparency Initiative (NEITI) says that total financial flows from Nigeria’s oil and gas sector reduced to…
Oil slumps to lowest price in a year as stock markets sink
Oil prices fell more than four per cent on Thursday, hitting their lowest in more than a year on worries…
Audio: Phyno Releases ”Oil”
Watch the audio for Phyno's latest single ''Oil''. This one is produced by Soularge.
Oil rises above $63 after slide
Oil bounced above 63 million a barrel on Wednesday to claw back some of the previous day’s six per cent…
Oil rises for a fourth day, buoyed by OPEC supply plans
Oil rose for a fourth session in a row on Monday buoyed by the prospect that top exporter Saudi Arabia…
USA now world’s biggest crude oil producer
The United States is now the world’s biggest crude oil producer, pushing Russia and Saudi Arabia to the back seat.
Equatorial Guinea’s energy sector gets $2.4bn boost
Equatorial Guinea’s energy industry has secured $2.4 billion of new investment from U.S. firms with 11 wells expected to be…
Iraq to proceed with plans to increase oil, gas capacity
Iraq will proceed with plans to increase oil and gas production capacity, Oil Minister Thamer Ghadhban said, according to an…
Saudi to sign $50bn in oil, gas, infrastructure deals
Saudi Arabia plans to sign deals worth more than $50 billion in the oil, gas, industries and infrastructure sectors at…
U.S. oil edges up after 3% drop
Oil inched up on Thursday amid ongoing tensions over the death of a prominent Saudi journalist, with prices steadying after…
Oil market well supplied – OPEC
OPEC sees the oil market as well supplied and is wary of revisiting a glut next year, the group’s secretary-general…
Navy detains 14 suspected oil, diesel smugglers in major operation
No fewer than 14 men have been arrested by the Nigerian Navy for smuggling adulterated diesel and ‘black oil’ to…
World oil demand to peak at 104.4 million bpd in 2035 – Unipec
World oil demand will peak at 104.4 million barrels per day (bpd) in the mid-2030s, up from just below the…