The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crude oil samples stood at $121.54 per barrel as of Wednesday. This is compared with $120.16 per barrel recorded on Tuesday. This is according to OPEC…
Despite the steady rise in crude oil price, the country’s earnings from the commodity dropped for the fourth month. This was contained in a Central Bank of Nigeria’s (CBN’s) latest monthly economic report for January 2022. According to the CBN…
An explosion at a liquefied natural gas (LNG) export terminal in Texas has sent natural gas prices downward as emergency crews respond and details continue to flow in. At 11:40 a.m. CT, an explosion rocked the Freeport oil and gas…
Crude oil prices moved lower after the Energy Information Administration reported a crude oil inventory build of 2 million barrels for the week to June 3. This compared with a draw of 1.5 million barrels for the previous week, leaving…
The Bauchi office of the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has sanctioned 15 filling stations for allegedly violating operational rules and regulations. Malam Abdullahi Iliyasu, the coordinator of NMDPRA made this known in an interview in Bauchi on…
Russia’s crude oil output could decline by 18 percent by the end of next year, the U.S. Energy Information Administration has forecast, citing the European Union’s planned embargo on Russian oil imports. The U.S. energy authority forecasts that Russian oil…
The Federal Government has attributed the recent electricity dip to the partial shutdown of the Obem gas plant. This was disclosed by the Ministry of Power via a statement issued and signed by the Special Assistant to the Minister of…
Mr Fadi Ghazale, the Chief Executive Officer, AG Vision Mining Company has called for adequate funding for the mining sector to unravel the hidden mineral potential across the country. Ghazale made the call in an interview on the sidelines of…
Nigeria cannot ignore vast proven gas endowments and potential reserves, in the face of energy poverty, the Federal Government has said. It maintained that natural gas remains the only viable option currently on the table as the race to adoption…
Goldman Sachs has raised its price target for Brent crude to $140 per barrel from $125 per barrel, citing unresolved structural shortages. Per a ZeroHedge report, the investment bank’s commodity head of energy research, Damien Courvalin, noted the brief period…
