Oil price: FG Revenue Shrinks As Petrol Subsidy Rises …workers, contractors risk delayed pay   Lower amounts of revenue might be available for sharing by the three tiers of government through the Federation Accounts Allocation Committee (FAAC) in the coming months as the cost borne by the...

Oil Prices Drop As Russia Touts Easing OPEC+ Output   Oil fell on Monday after Russia said an OPEC-led pact may consider easing output cuts next year, but prices held near recent three-month highs on hopes for a trade deal between the United States and China. Brent...

Price Of Oil Tumbles To $65 On Saudi Recovery   The international oil benchmark, Brent crude, dropped sharply on Tuesday, following Monday’s surge that sent shock waves around the world. Brent, against which Nigeria’s crude oil is price, surged by nearly 20 per cent on Monday after...

Budget Benchmark Stays Despite Rise In Oil Prices   The Federal Government on Monday said it was not in a hurry to adjust its benchmark oil price for the 2020 budget following the attack on Saudi Arabia’s oil facility, which had resulted in a rebound in...

Increasing Oil Price Pushes Petrol Landing Cost Above N180 The landing cost of Premium Motor Spirit (petrol) being imported into the country will rise further on the back of the recent increase in global oil prices. The Minister of State for Petroleum Resources, Dr Ibe Kachikwu,...

US Sanctions, OPEC Deal To Shift Oil Prices Higher — Analysts   Supply cuts by the Organisation of Petroleum Exporting Countries (OPEC) and United States (US)’ sanctions against Iran and Venezuela will push the oil market into undersupply and boost the cost of crude in coming...