Global oil benchmark, Brent crude, jumped above $57 per barrel on Monday after 11 non-members of the Organisation of Petroleum Exporting Countries, including Russia, agreed to cut their production by 558,000 barrels per day.
Brent, against which Nigeria’s oil is priced, soared to $57.89 a...
Nigeria and four other West African countries have agreed to ban the importation of Europe’s dirty fuels, the United Nations Environment Programme has said.
The UNEP said the move would dramatically reduce vehicle emissions and help more than 250 million people to breathe safer and...
…Kachikwu Negotiates Key Agreement To Ensure Nigeria Is Exempted From The Production Cut
Rising from its 171st meeting held at Organization of the Petroleum Exporting Countries (OPEC) headquarters in Vienna, OPEC reached a landmark deal that will effectively cut production by about 1.2 million barrels...
Fitch Ratings, a global credit rating agency, has expressed doubt over Nigeria’s multi-billion dollar crude-for-loans prepayment deals with India and China.
The Minister of State for Petroleum, Dr. Ibe Kachikwu, recently said the country had negotiated a $15bn investment with India, where the Indian government...
The Vice President, Prof. Yemi Osibanjo has said Nigeria will still need revenues from crude oil to rebuild her economy, diversify it and overcome her dependence on oil.
Osinbajo also said the country’s chances of deriving maximum benefits from her petroleum industry had increasingly contracted...
Vice President Yemi Osinbajo has stated that opportunities in the petroleum industry were narrowing and might be over sooner than expected as a result of the increasing breakthroughs in renewable energy use as well as the expansion in the patronage of electric vehicles globally.
According...
