Nigeria To Lose $24bn Oil, Gas Investments In Six Years — AEC         Nigeria will lose $24 billion in investments in the oil and gas sector between 2020 and 2025, due to effects of the COVID-19 pandemic on the global petroleum industry, according to a report...

NEITI, CSOs Seek Transparency In Oil, Mining Contracts       The Nigerian Extractive Industries Transparency Initiative, the Centre for Transparency Advocacy and the Media Initiative for Transparency in Extractive Industries on Thursday faulted the level of transparency in oil and mining sectors contracts. All three parties called on...

Nigeria’s Earnings Threatened As Oil Sheds $2.33/barrel       Brent, the oil against which Nigeria’s crude is benchmarked, dropped in price on Wednesday, shedding $2.33/barrel. The bulk of Nigeria’s foreign exchange earnings comes from the sale of crude oil and a crash in global oil prices often leads...

Nigeria Loses N1.06trn Oil Revenue Target – NNPC         Nigeria’s N2.6 trillion oil revenue target declined by 40 per cent (N1.06) as a result of twin shocks of COVID-19 and low crude oil price, the Nigeria National Petroleum Corporation (NNPC) has disclosed. The Group Managing Director of...

Nigeria’s Oil Deposit Down By 2.16% To 36 Barrels - NNPC       The Nigerian National Petroleum Corporation (NNPC) has disclosed that the volume of oil deposits Nigeria holds declined by 2.16 per cent between 2018 and 2019 and is now 36.89 barrels (bbls). While the country’s oil...

Oil Price Rises To $43       Oil gained more than one per cent on Tuesday on the prospect the United States nearing a deal on coronavirus relief, but the threat to demand from rising COVID-19 cases worldwide and increased Libyan output kept prices from moving higher. Reuters...