US Imports Of Nigerian Oil Falls To Five-year Low   The United States slashed its imports of Nigerian crude oil by 64.12 per cent in 2020 to the lowest in five years. The North American country bought 24.42 million barrels of Nigerian crude oil last year, down...

Oil, Gas Export Revenue Dipped By $2.23bn In 2020 – NNPC       The total revenue generated by the Nigerian National Petroleum Corporation from crude oil and gas exports plunged by 45.98 per cent last year amid the COVID-19 induced collapse in price and demand. Nigeria’s revenue from...

Nigeria Resumes Petrol Import From China       Nigeria, Africa’s biggest oil producer and exporter, has resumed importation of petrol from China, the world’s top crude oil importer. The Asian country shipped 37,000 metric tonnes of petrol to Nigeria in September for the first time since July 2019,...

Nigeria, OPEC Peers To Lose $272bn Oil Revenue         Nigeria and other members of the Organisation of the Petroleum Exporting Countries will see their combined net oil export revenue fall this year to its lowest level since 2002, according to the United States Energy Information Administration. The...

Iran’s Supply Deficit Jacks up Oil Prices Oil prices rose by nearly 1 percent on Thursday, driven by the prospect of a shortfall in global supply once U.S. sanctions against major crude exporter Iran come into force in just five weeks’ time. U.S. President Donald Trump...

The revenue fact sheet by the U.S. Energy Information Administration (EIA), revealed that Nigeria’s crude oil revenue fell from the $37 billion recorded in 2015 to $26 billion in 2016. The Federal Government recorded a deficit of $11 billion (N3.3 trillion using the official exchange...