Operators May Generate N4.37trn From Marginal Oil Fields
Operators of the new marginal oil fields are expected to earn significant revenue from the fields.
Proposed crude oil exploration from 57 marginal oil fields is expected to boost Nigeria’s oil production by at least 8.835 million barrels...
Crude Oil Price Hits Over $100/barrel
The price of crude oil climbed above the $100 mark on Sunday hitting $101.16/barrel after trading around $98/barrel since Tuesday, as oil marketers in Nigeria maintained an increased pump price for Premium Motor Spirit, popularly called petrol, higher than...
Oil Drops Below $100, Nigeria’s Production Now 1.158mb/d
Brent, the international benchmark for crude, fell below $100 per barrel on Tuesday as the latest figures released by the Organisation of Petroleum Exporting Countries showed an increase in Nigeria’s oil production from 1.024 million barrels per...
Oil Prices Could Hit $380 Per Barrel, JP Morgan Warns
The price of oil may rise to an all-time high of $380 per barrel if the United States and European sanctions lead Russia to reduce its crude supply in retaliation.
This was disclosed by JPMorgan analysts...
13 Marginal Fields Dormant As FG Awards 57 To New Investors
The Federal Government on Tuesday revealed that 13 out of the 30 marginal fields awarded since 1999 were not producing crude oil, as only 17 of the fields were currently meeting the target of...
Despite The Rise In Crude, Nigeria’s Oil Revenue Dropped To N945bn
Despite the steady rise in crude oil price, the country’s earnings from the commodity dropped for the fourth month. This was contained in a Central Bank of Nigeria’s (CBN’s) latest monthly economic report for...
