Nigeria recorded the highest crude oil production rate in Africa last month, according to the latest monthly oil market report by the Organization of Petroleum Exporting Countries (OPEC). The report which was published on Tuesday, January 17, showed that Nigeria…
By Seun Ibiyemi With the loan of $300million, which was used to acquire oil blocks from Chevron Corp, Nigerian National Petroleum Company Limited (NNPCL) is to supply 8,000 barrels of crude per day for four to five years. Bahamas-registered Bestaf…
The Nigeria Export Promotion Council (NEPC) has urged the government to diversify the nation’s economy. The council warned against continued reliance on crude oil, stressing that Nigeria’s survival lies with non-oil products. NEPC Trade Promotion Advisor Bello Noma gave the…
The Federal Government has attributed the menace of crude oil theft to the worsening unemployment situation in the country. Dr. Chris Ngige, the Minister of Labour and Employment, said this while declaring open the 8th Meeting of the National Employment…
Nigeria has lost its most valued crude oil customers, while some of its gas buyers now compete with the country in the same market, the Federal Government declared on Thursday. It also stated that international oil companies were massively shifting…
Nigeria continued its dismal crude oil production output for the year due to theft as September production averaged 937,766 barrels per day (bpd). This is compared to 972,394 bpd for the month of August, which was below Angola’s average daily…
By Dakuku Peterside. Autolycus in Ancient Greek mythology achieved fame and notoriety for being a successful robber and trickster whom no one could catch. He was a source of trouble for the king and the kingdom in Ancient Greece. Autolycus, were…
The Senate has appealed to the judiciary to give expeditious consideration to cases involving suspected crude oil theft in the country. President of the Senate, Ahmad Lawan made the call at a meeting in Abuja on Monday with heads of…
Nigeria’s crude oil production fell below 1 million barrels per day (bpd) in August, figures from its regulator show, as the nation grappled with rampant theft from its pipelines. The country’s total oil and condensate output dropped to an annual…
The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crude oil samples stood at 101.04 dollars per barrel as at Wednesday. This is compared with 106.41 dollars per barrel recorded on Tuesday, according to OPEC…
