The Nigerian National Petroleum Company Limited (NNPC) has revealed that Nigeria in the first three months of 2022 recorded $565.5 million export sales of crude oil...
The Federal Government on Wednesday announced that the Port Harcourt Refinery would commence operations by the first quarter of 2023. The Minister of State for Petroleum...
Nigeria’s position as Africa’s largest oil producer is now seriously under threat at a time oil prices are averaging $100 per barrel. The Group Managing Director/CEO...
In July 2015, Nigerian President, Gen. Muhammadu Buhari, fresh from that year’s presidential election victory after three failed successive attempts visited the United States of America...
The Federal Government has pledged to ensure a stop to incidences of pipeline vandalism and crude oil theft in order to ensure maximum production in the...
Nigeria’s crude oil grade, Bonny Light is trading at $116.1 per barrel the second most expensive in the international crude oil market. Nigeria’s crude oil price...
Libya could become the number one oil-producing country in Africa amid Nigeria’s struggles. Data from the Organisation of Petroleum Exporting Countries (OPEC) Monthly Oil Market Report...
Russia is currently auctioning its crude below the market price to willing buyers as Europe and United States severe ties with Kremlin over its ongoing show...
Nigeria was not mentioned among countries Europe will be heavily relying on to help cushion Russia’s threat to withhold supply of crude oil to the international...
The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that in 10 years the total aggregate financial flows from the oil and gas sector to the...
As many countries shift away from buying Russian oil, new export opportunities have opened up for Nigerian crude which is regarded as one of the best...
Today could be the day after seven years, that oil price could finally hit the $100 per barrel threshold as the tension between Russia and Ukraine...
The Anambra State Government has announced that it would begin earning a 13% derivation income in March, in accordance with the state’s status as an oil-producing...
Algeria, one of Africa’s oil-producing nations has concluded plans to begin payment of N41,500 monthly to its unemployed youths amid the rising price of crude oil....
As an oil-producing country and a member of the global oil cartel, Nigeria should be rejoicing that oil price is getting closer to $100, however, the...
Nigeria’s hope of escaping its financial woes is far from close, as once again, the Organisation of Petroleum Exporting Countries (OPEC) has ranked the country among...
India, the biggest buyer of Nigeria’s crude oil is currently scouring other markets for crude as its state-owned refineries look to meet annual output targets. According...
World’s largest independent crude oil trader, Vitol, believes people might stop purchasing the commodity as price rises in global market – a situation being experienced in...
Nigeria will be getting a payment alert of N249.3 billion in January from six multinational oil companies operating in the upstream sector for domestic crude oil...
The Delta State Governor, Ifeanyi Okowa on Tuesday forwarded an executive Bill to the State House of Assembly to promulgate a law for the forfeiture of...
Nigeria regained its position as Africa’s leading oil producer after losing it to Libya in October. According to the most recent data from the Organization of...
The Nigeria National Petroleum Corporation (NNPC) found it difficult to get buyers for Nigerian oil produced in the month of September depriving the government of much-needed...
President Joe Biden has said the United States will release 50 million barrels of crude oil from the nation’s Petroleum Reserve, in an attempt to reduce...
The Nigerian economy started 2021 with much exuberance, having recovered from the second recession under the present administration in the fourth quarter of 2020. After the...
Troops of Operation Delta Safe, conducting land, maritime and air operations to counter activities of criminal elements in the South-South zone have demobilised over 20 illegal...
A road traffic accident involving a trailer and a bus at Okeohia on Ihialla-Owerri Expressway, Anambra, has resulted in the death of the bus driver. The...
For a country hit by a revenue and FX shortfall, the Nigerian government continues to miss out on gains of rising oil prices as oil production...
For the first time in three years, oil prices jumped to above $80 on Monday as the Organisation of Petroleum Exporting Countries (OOEC) and its allies...
On Monday, oil prices sold above $80 per barrel, a massive 100 percent difference from the $40 per barrel projected in the 2021 budget. Monday closing...
Two investments banks, Goldman Sachs and Bank of America, have projected the crude oil price to hit between $85 and $100 in the coming months. The...
The price of oil reached a two-month high on Thursday, amid a struggle by Nigeria to meet its daily production targets. Data from Reuters showed Brent...
Nigeria’s external reserves have grown by 3.71 percent, or $1.96 billion, in the last 19 days. According to figures obtained from the Central Bank of Nigeria...
Nigeria’s oil revenue took a hit in June, with different production disruptions costing the government an estimated 6.03 million barrels. The Nigerian National Petroleum Corporation (NNPC)...
The Federal government appears to be at a crossroads as Brent crude soared closer to $75 per barrel on Monday, June 21. According to data, the...
The Department of Petroleum Resources (DPR) has revealed that about 5,300 discovered oil reserves are yet to produce a single drop of crude oil. The Director/Chief...
The Director of the Department of Petroleum Resources (DPR), Sarki Auwalu, said on Wednesday the agency is expecting the first crude oil production from some of...
India has made a major oil decision that will affect the revenue of Nigeria. The Asian country has cut down on its importation of crude oil...
The Federal Government of Nigeria has revealed that the country in January 2021 recorded N366.53 billion oil revenue. This is a 24.1 percent rise from the...
The international oil benchmark, Brent crude, rebounded in the early hours of Tuesday morning, hitting the $67.88 per barrel mark. This is the highest level since...
The continuous face off between Nigeria National Petroleum Corporation (NNPC), oil companies and host communities came at a huge cost for Nigeria’s oil revenue in 2020....
On Friday morning oil price rose by 1 percent after dropping 3.8 percent on Thursday after observers predicted it will take weeks to remove the giant...
Crude oil price fell below $64 following weeks of surge in market price. The Brent crude price, which is also used as a price indicator for...
Crude oil sells above $69 as it continues to respond positively to the agreement of Organisation of Petroleum Exporting Countries (OPEC) and its allies to maintain...
The National Petroleum Investment Management Services, (NAPIMS), a subsidiary of the Nigerian National Petroleum Corporation, (NNPC) has disclosed it incurred N126.17 billion expenses in January. Out...
Crude oil prices fell on Monday evening after pushing above $70 a barrel in the early hours, as dust from Saudi Arabia attacks settled. In the...
Crude oil price opened the week on Monday trading at $70 per barrel more than two percent it traded on Friday following reports of attacks on...
The Nigerian Government has been earning more than it earmarked for the 2021 budget due to the rising prices of oil. The Federal Government’s budget had...
Nigeria’s currency on Thursday recorded 1.1 percent appreciation to close at N406.50 against the dollar. This represents a N4.50 gain when compared to N411 recorded on...
The Federal Government has described as a welcome development the rising price of crude oil in the global market, saying, “this is a good omen for...
The Federal Government has inaugurated the Nigerian Upstream Cost Optimisation Programme (NUCOP) to drive down the cost of crude oil production in the country, Minister of...
