What should have been good news for Nigeria is set to be a fiscal headache as the international benchmark for oil prices surged above $85 per barrel on Wednesday. Data obtained showed Brent crude sold for $85.04 a barrel the day before and the…
Twenty-five suspected oil thieves handed over to the Port Harcourt Zonal Command of the Economic and Financial Crimes Commission, EFCC, by the Nigerian Navy, Forward Operating Base, Bonny Island, Rivers State, are being quizzed for their alleged involvement in illegal…
Crude oil futures dipped in mid-morning trade in Asia on Friday December 31 as investors booked year-end profits after a multi-day rally that pushed prices to highs not seen in five weeks. March Brent futures contract was down 89 cents/b…
…As stakeholders, experts charge FG to pursue diversification to avert harshest economic impact Abimbola Abatta, Uthman Salami and Ogaga Ariemu Amid growing concerns over the Omicron variant of COVID-19, the Organisation of the Petroleum Exporting Countries (OPEC) has said crude…
Crude oil futures inched higher on Friday as bearish pressures from US inventory builds and the resumption of Iranian nuclear talks ran up against the ongoing narrative of a severe oil market deficit. December Brent futures contract was up 21…
By Uthman Salami The Minister of State for Petroleum Resources, Timipre Sylva has said that even though gas remain the focus of Nigeria in driving the energy transition agenda, the federal government would not neglect crude oil as it remains…
The Nigerian Navy has handed over two vessels – MT Bright Hope and MV Johanna 11 –, intercepted weeks ago, to the Economic and Financial Crime Commission (EFCC). They were arrested by the Nigerian Navy Forward Operating Base Bonny with…
Oil prices slipped on Thursday, reversing early gains under pressure from rising COVID-19 infections in India and elsewhere although prices retained some support from a report the previous session that showed U.S. crude inventories fell much more sharply than expected.…
The CBN says Nigeria’s Foreign Exchange Reserves rose from 34.94billion dollars in November 2020 to 36.23billion dollars as at Jan 21, 2021. CBN Governor, Godwin Emefiele, said at the January Monetary Policy Committee (MPC) meeting of the bank, which began…
