Forex Shortage Delays Crude Supplies – Dangote Chinese state energy major, PetroChina, has been waiting to unload a cargo of United States crude at Nigeria’s giant new refinery for nearly a month due to payment issues, according to four trading sources and shipping data, Reuters...

NUPRC Announces The Increase of 1.087bn Barrels to Nigeria’s Crude Oil Reserves The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday formally announced a rise in Nigeria’s hydrocarbons’ reserves as of January 1, 2024, with the country’s stock of crude oil jumping by 1.087 billion barrels...

Crude Oil: N720bn Lost to Lower Production in Eight weeks – Report Nigeria lost about N720bn in revenue as a result of the consecutive monthly decline in its crude oil production in February and March 2024. Also, the country’s inability to ramp up production in these...

Crude Oil Price Hits $91 per Barrel  Brent Crude price has surpassed the $90 per barrel threshold and surged past the $91 per barrel mark as of Sunday. Global crude oil prices reported a second straight weekly gain and hit six-month high levels as markets watched...

Crude Oil Price Rises, Hits $86 per Barrel The prices of crude oil have continued to rise within the past one week following attacks on Russian refineries by the Ukrainian fighters. From $82.44 in March 11, the Brent Crude rose to $86.87 on Monday morning. The WTI...

Oil Prices Fall As US Inflation Prompts Weak Demand On Thursday, oil prices fell as inflation data from the United States indicated a softening of the world’s biggest economy which could weaken crude oil demand. Brent futures went down by 6 cents to $83.62 a barrel...