Rise In Oil Price Continues, Inches Closer To $75pb
The price of crude oil crept higher yesterday, almost hitting the $75 per barrel mark as industry data pointed to a substantial decline in United States crude stockpiles coupled with rising fuel sales in India as...
Nigerian Crudes Struggle For Buyers As India Cuts Purchases – Report
Nigerian crude variants are now seeking other buyers in Asia and Europe as India’s COVID-19 situation remains shrouded in uncertainty amid stringent regional lockdowns and weak domestic consumption.
S&P Global Platts reported that most Nigerian...
Oil Price: Experts Dismiss Gains As Subsidy Nears N200bn
After the international crude oil benchmark, Brent advanced above $70 as the PUNCH reported earlier in the month, industry experts see meagre benefits as subsidy payments gulp revenues.
The Federal Account Allocation Committee report for May, value...
NNPC Pledges Crude Supply To 20,000bpd Lagos Refinery
The Nigerian National Petroleum Corporation has committed to supply crude oil to a refinery project on Tomaro Island in Lagos, with a capacity of 20,000 barrels per day.
Integrated Oil & Gas Limited, the promoters of the Eko...
Nigeria Rebalances OPEC Quota Compliance, Cuts Output By 7%
Nigeria has been forced to rebalance its oil output, effecting about 7.0 percent cut back on its oil output to re-align with the quota imposed by the Organisation of Petroleum Exporting Countries, OPEC.
The nation’s output in...
Nigeria’s Revenue Threatened As India Slashes Crude Imports By $39.5bn
Nigeria’s revenue earning capacity has come under threat following the reduction of importation of crude oil by India.
India, Nigeria’s largest crude oil importer, reduced crude oil imports by $39.5bn in April, compared to the same...
