NNPCL Unveils 40,000 bpd Utapate Crude to Global Refiners
The Nigerian National Petroleum Corporation Limited says it has commenced sales of its latest crude oil grade, the Utapate crude oil blend, to international refiners, six months after it began exploration.
It said the development is a...
Dangote Refinery Crude Import Resumes after Three Months
The Dangote Petroleum Refinery has recommenced the purchase of crude oil from the United States in its ongoing efforts to ramp up oil production and enhance its refining capacity.
The new purchase comes after a three-month hiatus in...
NUPRC Assures IOCs not Exiting Nigeria
The Nigerian Upstream Petroleum Regulatory Commission has said that no international oil company is leaving Nigeria despite their divestments.
NUPRC’s Chief Executive Officer, Gbenga Komolafe, described the recent divestments by IOCs in the oil sector as “portfolio rationalisation”.
Komolafe said at...
MPR Hike: UBA, Zenith, 17 Other Banks Pay 8.18% Interest on Savings
Aligning with the Central Bank of Nigeria’s (CBN) recent monetary policy adjustment, Nineteen deposit money banks are now offering an 8.18 percent interest rate to customers for their savings.
Commercial banks are mandated to...
NGX Sustains Bullish Trend as Investors Gain N167bn
The Nigerian equity market recorded N167bn gain on Wednesday buoyed by AustinLaz & Company, Tantalizers, Wapco, and other gainers.
The All-Share Index and market capitalisation rose by 0.26 per cent, to close at 98,227.50 points N59.5tn respectively.
This brought...
Again, British Court Grants Chinese Firm Right to Seize Nigerian $25m Assets
A court in the British Virgin Islands has, again, granted Zhongshan Fucheng Industrial Investment Co. Ltd, a Chinese firm, the authority to seize another £20 million ($25 million) from Nigeria’s foreign denominated assets...
