Govt Won't Interfere with Crude Oil Prices, NUPRC Reiterates   The Federal Government has reaffirmed its stance against price-fixing for crude oil, emphasizing its commitment to adhering to international best practices. Instead, the government will allow market forces to dictate prices, following the willing-seller, willing-buyer principle. The Chief...

W/Bank Sees Crude Prices Rising Till June 2022, Fuelling Inflation   Energy prices soared in the third quarter of 2021 and are expected to remain elevated in 2022, adding to global inflationary pressures and potentially shifting economic growth to energy-exporting countries from energy-importing ones, the World...

Crude Oil Price Hits 13-month High At $63       Oil prices yesterday maintained their upswing, hitting their highest in about 13 months on the back of vaccine rollouts expected to increase demand even as producers kept supply reined in. Global benchmark, Brent Crude, was up 88 cents,...

Crude Oil Price Rises Above $61         The international oil benchmark, Brent crude, rose further on Tuesday, trading above $61 per barrel. Brent had hit the $60 per barrel mark on Monday for the first in more than a year. The further rise in oil prices comes amid...

Improved Crude Oil Prices Increase Nigeria’s External Reserves To $36.23bn       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...

Shell’s Annual Profit Triples To $13bn Royal Dutch Shell said Thursday that profit after taxation almost tripled to just under $13bn (10.5 billion euros) in 2017, energised by rising oil and gas prices. Net or bottom-line earnings for the full year compared with a figure of...