How States Obtained N26.31bn Excess Crude Account Loans   State governments have acquired about N26.31bn loans from the Excess Crude Account facility, which is meant for implementing development and infrastructural projects. Findings showed that a total of about N183.1bn excess crude account facility deposit sits in the...

FG Says 23 Oil Blocks Failed to Produce Crude   No fewer than 23 oil blocks managed by both international and local oil companies, which are under crude oil Production Sharing Contracts with the Nigerian National Petroleum Company Limited (NNPCL) failed to produce crude or were...

Fed Govt Loses N1.9trn To Oil Theft In July   Crude oil theft may have cost the country a whopping N1.9tn revenue loss in July. The estimation was arrived at following a pronouncement by the National Security Adviser, Nuhu Ribadu, last week when he led a presidential...

Petrol Price Rises By 20% Globally   Price of petrol may to rise further as international market data revealed that the commodity has gained 20 per cent. At the beginning of 2023, Brent crude traded around $78 per barrel. However, last week, the international benchmark hit $83...

As OPEC Output Sinks Crude Drops To $60.8   Brent crude dropped again in price on Monday, shedding $1.09 to close at $60.82 per barrel. Also, the oil output of the Organisation of Petroleum Exporting Countries fell to an eight-year low in September after attacks on Saudi...

$12.7bn Crude Stolen From Nigeria In 3years Says Falana HUMAN rights lawyer and Senior Advocate of Nigeria, Femi Falana, on Thursday alleged that $12.7bn worth of crude oil was stolen from the country between 2011 and 2014. Falana spoke at the 40th anniversary celebration of the...