Oil Earnings Decline By 29% To N790bn – CBN   Crude oil revenue crashed by 29 per cent in the first quarter of 2022, according to statistics from the Central Bank of Nigeria. The CBN, in its latest economic and statistical report for the first quarter of...

Dangote Refinery'll Gets 300,000 Barrels Per Day From NNPC   The Nigeria National Petroleum Corporation Limited (NNPCL) will have the first right of refusal to supply the Dangote refinery with about 300,000 barrels of crude oil per day for the next 20 years. The Group Chief Executive...

Oil Firms Degrade Environment, Spill N711bn Worth Of Crude Oil   Environmental right activists have raised the alarm over the continuous environment degradation as estimation puts total value of oil spilled by operators in the Niger Delta at N711bn. Data obtained from the Nigerian Oil Spill Monitor,...

OPEC+ Set To Meet Today As Oil Prices Recover   Oil prices recovered after a turbulent session as traders counted down to the Organisation of Petroleum Exporting Countries and allies (OPEC+) meeting which is set to hold today over September supply. West Texas Intermediate futures climbed more...

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...