The international oil benchmark, Brent crude, rose further on Thursday, trading near $59 per barrel according to data from Oilprice.com. As at 11.00am Nigeria time, data...
For seven years, crude oil lifted from Nigeria between 2005 to 2012 worth over $20 billion was unaccounted for according to the House of Representatives. Chairman,...
The uptick in crude oil price pushes the Federal Government closer to its revenue projection, as tight control on oil production by OPEC members is expected...
The Nigerian National Petroleum Corporation (NNPC) has announced a trading deficit of N1.22 billion for September last year. The corporation announced this in the September 2020...
Nigeria’s foreign reserve has increased to $36.30 billion as of January 14, the latest figures by the Central Bank of Nigeria (CBN) have revealed. The new...
The Nigerian National Petroleum Corporation (NNPC) on Thursday dismissed as unfounded and total falsehood, a report on missing 48 million barrels of crude oil. The Group...
The Nigerian government is revising its 2020 budget to assume an oil price benchmark of $20 a barrel, Zainab Ahmed, the Finance Minister, said Tuesday during...
Despite an increase in pipeline vandalisation cases by 50%, Nigeria posted crude oil and gas export sales revenue of $434.85 million in January, the latest Monthly...
The African Development Bank (AfDB) has refuted a claim in news reports that it plans to provide financial support to the East African Crude Oil Pipeline...
Nigeria’s premium crude oil grade, Bonny Light, dropped to about $12 or $13 per barrel this week, according to traders monitoring the West African Market. The...
Rallying from the immediate dip that happened after the historic production cut deal between the Organisation of Petroleum Exporting Companies (OPEC) and its Russia-led allies, oil prices inched...
Nigeria has allied itself with the Organisation of Petroleum Exporting Countries (OPEC) to reduce global crude oil production by 10 million barrels per day (bpd) between...
Nigeria’s Bonny Light is defying the price slash strategy intended to attract buyers just as refineries in India are adopting production cuts and European plans are...
The Naira slumped in value against the dollar on Thursday, exchanging for between N405 and N420 at Bureaux De Change (BDC) in the country. The persistent...
The Nigerian government has discovered about one billion barrels of crude oil in North East part of the country, a minister in charge of the petroleum...
The Federal Government (FG) posted a deficit of N3.73 trillion in its crude oil revenue between January and December 2019, a report from the Central Bank...
Nigeria’s daily oil output shortfall of 80,000 barrels was the biggest among the Organisation of Petroleum Exporting Countries (OPEC) for December 2019 according to ship-tracking data...
Oil prices rose by over one per cent on Monday as escalation in the tension between Tehran and Washington, following the assassination of top Iranian commander...
A Central Bank of Nigeria (CBN) report has revealed an N88.22 billion plunge in the nation’s earnings from crude oil sales for the month of November...
The Nigerian National Petroleum Corporation (NNPC) said on Sunday, the country crude oil and gas exports rose to $355.93 million in September. This figure was higher...
The House of Representatives has moved to end the burning of seized bunkered petroleum resources due to its impact on the environment. Following a motion moved...
The Nigeria Extractive Industries Initiative (NEITI) on Wednesday said crude oil and refined products worth $41.9 billion were stolen from Nigeria in the last 10 years....
The Minister of Communications and Digital Economy, Dr Isa Ibrahim, has claimed that the Information and Communication Technology (ICT) sector currently contributes more to Nigeria’s Gross...
The Nigerian Navy has arrested 18 male sailors, including one Indian, for allegedly attempting to illegally export stolen crude oil to Ghana. Executive Officer, Nigerian Navy...
Reluctance by European buyers over high prices has left about 20 cargoes of Nigerian crude oil from April loading unsold, Reuters has reported. The reluctance of...
The Nigerian Navy has said it has arrested 19 fake personnel caught with its identity cards and camouflage in different parts of the country. According to...
Crude oil prices in the international market witnessed a robust leap, hitting the $70 dollar mark on Thursday, the first time since November, 2018. This is...
Figures made available by the Central Bank of Nigeria, CBN, have shown that the country’s foreign exchange reserve has hit a six months high at $44.14...
There are indications that crude oil imports from Nigeria could be further threatened with the country’s highest oil buyer, India, signing an agreement to import 0.6...
A survey by S&P Global Platts has revealed that Nigeria pumped 190,000 barrels per day of crude oil in February above its agreed quota under the...
Crude oil production by the Nigerian Petroleum Development Company, NPDC, a subsidiary of the Nigerian National Petroleum Corporation, NNPC, has increased by 57,000 barrels per day....
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has said that the Federal Government through the Economic and Financial Crimes Commission (EFCC) has started...
The price of crude oil at the international market strengthened to $62.90 per barrel on Monday, a 20 cent increase from last weekend’s closing price. The...
Fears that Nigeria’s 2019 budget may suffer huge revenue short fall may be abetted as the prices of crude oil in the international market rebounded on...
Crude oil prices got more than 1.5 percent boost on Monday on hopes that talks in Beijing can resolve a trade war between the United States...
Daily production of crude oil by Nigeria increased by 9 percent in 2018 to 2.09 million barrels compared to the 1.86 million barrels daily production in...
The prices of crude oil again fell on Thursday after a marginal rally on Wednesday by more than one per cent. Prices had rebounded more than...
A newly released audit report by the Nigeria Extractive Industries Transparency Initiative (NEITI) has put Nigeria’s total earnings from crude oil at $677.9 billion, between 1999...
Nigeria’s 2019 Budget may face hiccups as the current crude oil prices in the international market has fallen below the Budget benchmark. On Monday, crude oil...
Except it attains a 100 per cent compliance with its new crude oil supply cut and count on continued production declines in Iran and Venezuela, the...
The prices of crude oil fell on Wednesday largely due to swelling supply glut and signs of an economic slowdown just a day before a crucial...
The Department of Petroleum Resources (DPR) on Monday revealed that Nigeria has lost its most valued crude oil buyers. According to the Director, DPR, Mordecai Ladan,...
The Nigerian National Petroleum Corporation (NNPC) has said its crude oil and gas export sale in August 2018 was $470 million, indicating an increase of about...
The Minister of State for Petroleum, Ibe Kachikwu, has said the decline in the nation’s crude oil production may likely continue into next year. According to...
Indications have emerged that the nation may soon begin to earn less from crude oil as the monthly volume of Nigerian oil imports into the United...
The Federal Government said it was working earnestly to ensure the diversification of the country’s export base and increase its non-oil exports to the Netherlands, the...
Speaker of the House of Representatives, Hon Yakubu Dogara, has advocated for local refining of crude oil to make fuel available and easily accessible to all...
The Hungarian Government has indicated interest to purchase crude oil and Liquefied Natural Gas (LNG) from Nigeria. The Hungarian Ambassador to Nigeria, Professor Gabor Ternak, who...
A few days after raising the alarm on the fraudulent activities of crude oil scammers, the Nigerian National Petroleum Corporation (NNPC) has provided further insights into...
Minister of State for Petroleum, Dr. Ibe Kachikwu, has said that Nigeria plans to target Africa as a main market for its crude oil and natural...
