Oil prices rise as market signals improve

Oil prices rise as market signals improve

   ’Femi Asu with agency report Oil prices rose Wednesday amid ongoing optimism that production cuts by the Organisation of Petroleum Exporting Countries and other producers have shown some success in bringing down global inventories. Global oil benchmark, Brent crude, rose by $1.23 to $56.37 per barrel as of 7.50pm Nigerian time, while the US ...
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Oil price rises to $57 per barrel

Oil price rises to $57 per barrel

Oil prices rose on Wednesday in spite of a rise in US crude inventories with the market heading for its largest 3rd quarter gain in 13 years after the Iraqi oil minister said OPEC and its partners were considering extending or deepening output cuts. Brent crud...
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Oil prices inch close to $56

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

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...
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Crude oil “is getting its last years” – Kachikwu

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

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

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

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 ...
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NNPC plans to lift 80% of crude oil

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

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 ...
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