oil

European shares rose and Wall Street was set for a stronger open on Tuesday, as … Read more via Reuters – https://ift.tt/2OWt9dy Get more: Nigeria Business News

Most economists and financial experts agree that Nigeria, due to oil woes, was bound to experience a mild economic decline in 2016 but most probably, not a full-blown recession. That the economy declined by 1.56 per cent that year on the aggregate can be blamed on the failure of the government...

Financial Tribune As emerging frontiers, especially digital ledger system also called blockchain become a more globally recognised solution, experts have called for frameworks that will enable Nigeria’s oil and gas sector to benefit from the innovation. With a new $2.5million funding secured...

Energy Research, Ecobank Group, Mr. Dolapo Oni, tells TOBI AWORINDE that oil production will improve this year as power supply records some significant setbacks What major expectations do you have for the energy sector in 2018? I think the only bill we are likely to see passed this … via...

As Nigerians continue to grapple with fuel scarcity following last week’s strike threat by the Independent Petroleum Marketers Association of Nigeria, IPMAN, another influential group in the oil industry says it is set to begin its strike from Monday. The Petroleum and Natural Gas Senior Staff...

Oil prices hit their highest levels of the year on Friday, driven up by lower US production and a weak dollar. Both US and Brent crude prices hit 2016 peaks, trading as high as $46.27 and $48.30 a barrel respectively. The recent increase in oil prices at Global markets is a good indication to...

Oil prices gained momentum Thursday after data showed US production fell to 18-month lows as Iraq pushed for a fresh meeting of crude majors on limiting output. The advances come just days after the collapse of weekend talks aimed at negotiating an output freeze, which had fuelled worries a...

Nigerians on social media space have joined the former governor of Lagos State and national leader of the All Progressives Congress, APC, Asiwaju Bola Tinubu yesterday, blasted Ibe Kachikwu, Minister of State, Petroleum, for telling Nigerians that he “was not trained as a magician”, a reference...

The Economic and Financial Crimes Commission (EFCC), yesterday, shut down a tank farm belonging to Obat Oil and Petroleum Limited at Kirikiri, Lagos, for alleged diversion of subsidy payment. Petrocam Trading Nigeria Limited had reported Obat Oil to EFCC for allegedly diverting N1.2 billion...

Following the call for an emergency meetin of the Organisation of Petroleum Exporting Countries (OPEC), to discuss steps to possibly cut down oil production and prop up oil prices, Iran and another prominent OPEC member, opposed the call and claimed that the time is not yet right for such an...

Major oil marketers have said the federal government is yet to communicate the new pump price of petrol to its members. The federal government had on Tuesday announced a new N86.50k per litre pump price of petrol for oil marketers and N86/litre price for NNPC retail stations. But oil...

Oil prices rose Monday on Middle East supply risks after Saudi Arabia cut diplomatic ties with Iran. At about 1230 GMT, US benchmark West Texas Intermediate for delivery in February climbed 30 cents to $37.34 a barrel. The Organization of the Petroleum Exporting Countries, whose 13 members...

In december 2014, the All Progressives Congress, APC Spokesperson said that it was last Christmas celebration under PDP government which he tagged; the bondage of insecurity, corruption, unemployment, widespread hopelessness and poor leadership. In a Christmas message to Nigerians, contained in...

Five Filipinos, Axel Joseph Gibo Jabone, Juanito Camireno Infantado, Suarin Fernado Alave, Gatila Jaypee Gadayan and Rolando Jose Commendador as well as four Bangladeshis, Md Zahirul Islam, Islam Shahinul, Islam Rafiqul and Shaikn Shibli Nomany, accused of unlawfully dealing in crude oil were...

Niger Delta ex-agitators, under the aegis of Presidential Amnesty Phase II, on Monday threatened war over the Federal Government’s alleged plan to slash the 2016 budget for the Presidential Amnesty Office. They argued that the proposed N20bn for the initiative was unacceptable to them. The...

Despite the Federal Government’s using a crude oil price benchmark of N38 for its 2016 proposed budget, an economic crisis looms. This is because by yesterday, the oil price continued to plummet, falling below $37 per barrel and international Brent crashing to below $40 for the first time since...

The World Bank has advised President Muhammadu Buhari to act now if he is seriously considering the removal of fuel subsidy. The World Bank’s Lead Economist, John Litwack, said Tuesday the best time to take such decision is now. While the Buhari administration has hinted at its intention to...

Nigerians have been grappling with fuel scarcity for some days now and are still not sure when it will come to an end. Scarcity of petrol has continued to bite harder. In spite of this, Nigerians have taken to the social media to blast President Mohammadu Buhari and marketers over fuel crisis...

The family of former Minister of Petroleum, Diezani Alison Madueke seems depressed over the ailing health condition of their daughter. This is just as the embattled ex-minister has ordered her relatives to jet her back into Nigeria this Friday as her condition grew worse last weekend...

Members of the immediate family of embattled former Minister for Petroleum Resources, Diezani Alison-Madueke, as well as her legal team are outraged over the recent visit of Nigerian journalist Dele Momodu to the former minister’s London flat. In an interview with SaharaReporters, Mrs...