crude oil Archives » Nigerian Oracle

September 18, 2017 No Responses

Oil prices inch close to $56

Oil prices moved close to $56 on Monday, remaining near multi-month highs reached late last week. The number of US rigs drilling for new production fell and refineries continued toThe post Oil prices inch close to $56 appeared first on...

September 16, 2017 No Responses

Oil still accounts for 92% of Nigeria’s earnings — Investigation

Ifeanyi Onuba Despite the efforts of the Federal Government to diversify the economy away from oil to non-oil sector, receipts from oil and gas sector still account for a huge chunk of the country’s total exports’ earnings, an investigation has revealed. A...

September 14, 2017 No Responses

Crude oil “is getting its last years” – Kachikwu

The Minister of State for Petroleum Resources, Ibe Kachikwu says will no longer be an income resource in 10 years’ time – considering... Read » Crude oil “is getting its last years” – Kachikwu on YNaija ...

September 13, 2017 No Responses

Pipeline vandalism: Nigeria defers 700,000bpd of crude oil

Feyisayo Popoola The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, said that an average of 700,000 barrels per day of crude oil was deferred in 2016 due to pipeline sabotage, saying this brought Nigeria’s producti...

September 13, 2017 No Responses

Future of oil declining… it won’t last forever, Osinbajo warns

Vice-President Yemi Osinbajo has said the profitability of Nigeria’s oil is gradually declining. Speaking during the second national council on Niger Delta meeting held in Akure, Osinbajo said the planThe post Future of oil declining… it won’...

September 13, 2017 No Responses

Nigeria’s oil will no longer be profitable in a few years – Osinbajo

Vice-President Yemi Osinbajo on Tuesday said Nigeria’s crude oil will no longer be highly useful in the future. He spoke... Read » Nigeria’s oil will no longer be profitable in a few years – Osinbajo on YNaija ...

September 11, 2017 No Responses

NNPC plans to lift 80% of crude oil

The Nigerian National Petroleum Corporation (NNPC) is planning to allocate 80 per cent of crude lifting deal to NNPC Trading, an arm of the corporation which evolved from the merger of its trading companies. Managing Director of NNPC Trading Limited, Ibrahim W...

September 10, 2017 No Responses

I wish oil will dry up so we can start using our brains, says el-Rufai

Nasir el-Rufai, Kaduna state governor, says he desires for Nigeria’s crude oil to get exhausted so the nation can start to seriously develop other revenue sources. Describing the revenue generatedThe post I wish oil will dry up so we can start using our ...

September 10, 2017 No Responses

Easy money responsible for Nigeria’s underdevelopment, says El-Rufai

El-Rufai also blamed the parlous security situation in the country on the central policing system and shortage of personnel at the Nigerian Police Force. ...

September 6, 2017 No Responses

Crude oil price rises to four-week high

Oil futures extended a rise on fears of potential damage to the United States oil production from Hurricane Irma, as well as renewed demand for crude from restarted refineries in the Gulf Coast, according to MarketWatch. West Texas Intermediate the US crude oi...