CBN- Nigeria Makes N7.3tr From Oil In 2017 Nigeria’s total revenue from crude oil rose by 29 percent to N7.3 trillion in 2017, reflecting impact of increases production and in crude oil price. Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele The revenue from...

OPEC: Oil Market Heads Towards Rebalancing After long years of punishingly low oil prices, the global oil market is moving closer to reaching a healthy balance between supply and demand, OPEC said on Thursday. In its monthly oil market report, the Organization of Petroleum Exporting Countries...

The price of brent crude oil rose to 70 dollars a barrel on Monday, supported by ongoing output cuts led by OPEC and Russia, and ignoring a rise in US and Canadian drilling activity that points to higher future output in North America. Brent sweet...

254 Firms Submit Bids To Buy, Sell Nigeria’s Crude Nigeria’s crude and condensate production stood at 2.25 million barrels per day on Tuesday, while 254 companies submitted bids for the sale and purchase of the country’s crude oil grades for the 2018/2019 Crude Term Contract. According...

PENGASSAN Strike: Oil Prices Rises, North Sea Pipeline Threaten Supply Oil prices edged higher again Monday as a planned workers’ strike in Nigeria’s oil and gas industry and the North Sea pipeline outage threatened crude supply to the international market. However, the planned strike by oil...

Oil Revenue Exceeds 2017 Budget Benchmark The Nigerian National Petroleum Corporation (NNPC) has stated that oil revenue in the first ten months of the year has exceed the 2017 budget oil benchmark of $44.50 per barrel by 18 per cent, revealing that oil has sold...