Some stakeholders in the oil and gas industry have commended President Bola Tinubu for pegging crude oil price at $77.96 and the naira at N750 They gave the commendations in separate interviews with journalists on Thursday in Lagos. Recall that…
The Federal Government of Nigeria has pegged its 2024 projections for crude oil and the dollar to naira exchange rate at $77.96 and N750 respectively. This new projection is a deviation from the earlier projection announced by Atiku Bagudu, Minister…
THE price of OPEC basket of 13 crudes stood at $74.65 a barrel on Monday, June 26, 2023, compared with $74.14 last Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend…
Barclays slashes oil price forecast to $103pThe Barclays of the United Kingdom has slashed Brent oil price forecast to 103 per barrel from its earlier $111 previously projected considering the Russian oil supply and an expected surplus on the market.…
…Seeks Senate approval for fiscal expenditure adjustment …Cuts upstream JV fund by N200bn …Reduces oil production by 283,000bpd …Adds N161.40bn to personnel cost …Provides additional N182.45bn fund for Police welfare Uthman Salami The Federal government has raised 2022 budget for…
At last, the price of crude oil (Brent) has hit the roof at $100 per barrel in the international market, due mainly to the ongoing Ukraine crisis. The price of oil had been predicted to rise to $100 per barrel…
Nigeria has witnessed the highest increase in the price of crude oil, a percentage said to be the highest of its kind in the last seven years. Due to the development, there is a prospect the country could make sixty-six…
Biden Administration continues to work with oil-producing countries and continues to ‘monitor’ prices in the context of global economic growth The Biden administration stands ready to deploy its tools to address the latest increase in oil prices, a spokeswoman for…
By Kayode Tokde At $36.6billion, the Nigeria’s foreign reserves hit over 20-month high amid steady increase in global oil price, increasing investment from Diaspora, among others sources. Foreign exchange reserves are assets held on reserve by a monetary authority in…
By Uthman Salami The Group Managing Director, GMD, of the Nigerian National Petroleum Corporation, NNPC, Mele Kyari, has predicted that the supply crisis affecting the natural gas market might influence oil prices up by $10 a barrel. Kyari made this known on…
