The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, has in India, negotiated a USD 15 billion investment with terms to be agreed, where the Indian Government would make an upfront payment for Crude purchase to Nigeria, to be repaid on the...

...Budget constraint hampering road construction, says Fashola ...FG approves N3.5bn for prisons to buy 350 vehicles The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that Nigeria will soon close the deal on a $3 billion to $4 billion loan from China that...

Global oil benchmark, Brent crude, extended its rally on Sunday to hit the $50 per barrel mark, the third time this year. This comes as the expected return of the Forcados export terminal has helped to boost Nigeria’s planned crude oil exports this month to...

...Seek dollars to stockpile petrol ahead of Christmas, decry multiple taxation  ...NNPC: Egina to add 200,000bpd to Nigeria’s oil output by 2018 Despite the preferential foreign exchange rate given to oil marketing firms by the international oil companies (IOCs), aimed at sustaining the importation of petrol...

…Once again Kachikwu’s International Diplomacy Yields Dividends as oil prices surge After about forty eight (48) hours of a grueling meeting of the Organization of Petroleum Exporting Countries held in Algeria, OPEC in Algiers, the oil cartel agreed to a landmark deal that will effectively...

Petroleum product marketers have demanded an upward review in the pump price of the Premium Motor Spirit (also known as petrol). This, they said, would make importation of the product profitable. They said the free fall of the naira against the dollar had made it unprofitable...