Indigenous Firms Plan To Increase Oil Output

Indigenous Firms Plan To Increase Oil Output

  Data from the Ministry of Petroleum Resources has shown that indigenous oil producers are planning to increase crude oil output by almost 250,000 barrels a day by 2020. This comes despite efforts by the Organisation of Petroleum Exporting Countries (OPEC) and Russia to restrict oil supply and raise prices. Nigeria’s third-biggest indep...
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Rep commence full blown investigation on $21bn crude oil loss

Rep commence full blown investigation on $21bn crude oil loss

THE Ad-hoc Committee put in place by the House of Representatives to probe the alleged loss of crude oil worth $21billion yesterday  commenced full-blown investigation into the deal with a view to establishing the veracity [...] The post Rep commence full blo...
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By 2022, US may cut back crude oil import from Nigeria

By 2022, US may cut back crude oil import from Nigeria

The US may drastically reduce its import of crude oil from Nigeria by 2022, according to the US Energy Information Administration, EIA, in its report. The post By 2022, US may cut back crude oil import from Nigeria appeared first on Vanguard News. ...
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Nigeria exported N2.3 trn crude oil between Oct and Dec 2017

Nigeria exported N2.3 trn crude oil between Oct and Dec 2017

NIGERIA exported 126.96 million barrels of crude oil and condensates worth N2,374,564,896,000 or $7,760,016,000 in the fourth quarter of 2017 according to official documents available to Nigerian Tribune. However, total foreign exchange inflow and outflow [......
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Naira untouched as stocks, crude oil record losses

Naira untouched as stocks, crude oil record losses

The naira remained stable on Tuesday despite losses recorded on the Nigerian Stock Exchange and global crude oil market. The naira appreciated against the dollar to exchange at N361/$ against The post Naira untouched as stocks, crude oil record losses...
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Dogara: Fuel scarcity won’t stop until we’re able to refine crude locally

Dogara: Fuel scarcity won’t stop until we’re able to refine crude locally

Yakubu Dogara, speaker of the house of representatives, says the solution to incessant fuel scarcity in the country is the ability of the country to refine crude locally. He said The post Dogara: Fuel scarcity won’t stop until we’re able...
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Adeosun: We don’t care if oil prices rise or fall

Adeosun: We don’t care if oil prices rise or fall

Kemi Adeosun, minister of finance, says Nigeria has got to a point where it does not care if oil prices rise or fall. In an interview with Bloomberg, the minister The post Adeosun: We don’t care if oil prices rise...
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Nigeria earns N1.213tr from crude oil export in one year

Nigeria earns N1.213tr from crude oil export in one year

Nigeria's oil and gas export receipt for the period of November 2016 to November 2017 stood at $3.73 billion (N1.213 trillion), out of which the $2.60 billion... ...
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Oil prices hit $70 per barrel amid OPEC cuts

Oil prices hit $70 per barrel amid OPEC cuts

Oil prices were firm on Wednesday, receiving ongoing support from healthy economic growth and supply restrictions led by the Organisation of the Petroleum Exporting Countries (OPEC) and Russia. NAN reports The post Oil prices hit $70 per barrel amid OPEC...
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Crude oil price increase should not affect economy diversification, lawmaker tells FG

Crude oil price increase should not affect economy diversification, lawmaker tells FG

A member of Osun House of Assembly, Mr Olatunbosun Oyintiloye has urged the Federal Government not to allow the slight improvement in the price of crude oil at the international market affects its economic diversification [...] The post Crude oil price increas...
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