Brent Crude Prices Rise by 3% Following Norwegian Outage, Ukraine War   Oil prices climbed more than 3 per cent on Monday after crude production was halted in Norway, which added to the latest escalation of the Russia-Ukraine war. Brent crude futures settled at $73.30 a barrel...

Oil and the Nigerian Economy: Can We Learn from Norway?  By Abdulhaleem Ishaq Ringim       Whether or not Nigeria has utilized its oil wealth in a prudent manner is still a topic for national debate. However, considering how dependent the country’s economy has become on oil...

Oil Revenue To Remain Subdued As Output Plunges By 15%       Despite the recent rise in oil prices, there are strong indications that Nigeria is not likely to be out of the woods in its petroleum revenue performance and budget funding, due, mainly to the significant...

Nigeria’s Oil Faces Threat As Electric Vehicle Sales Rise         The rising number of countries gradually shifting from fossil fuels and encouraging the adoption of electric vehicles may pose a major threat to Nigeria’s crude oil exports. Sales of electric cars topped 2.1 million globally in 2019,...

Nigeria’s Oil Output Drops By 14% To An Average Of 1.5mb/d       Nigeria might be under pressure to fund its N13.8 trillion 2021 budget following a significant drop of its oil output by 14.08 percent in the first 10 months of 2020, according to data obtained...

Nigeria, Norway Partner On Power Expansion   The Federal Government is partnering the Government of Norway to work out measures that will help in the expansion of Nigeria’s power sector. With Norway’s 99 per cent total electricity supply coming from hydropower generation plants, both governments, during a...