Nigeria, Others Cut Oil Output To 30-year Low     Nigeria and other members of the Organisation of Petroleum Exporting Countries slashed their combined crude output in June to a three-decade low, according to an S&P Global Platts survey. The 13-member group pumped 22.31 million barrels per day,...

Post COVID-19: Nation’s Economy Thrives More On Taxation Not Oil ― Commissioner   Lagos State Commissioner for Finance, Dr Rabiu Olowo, has stressed the need for Nigerians to embrace taxation as the most potent way out of COVID-19 consequence. Olowo made the remark at a 2day Academic...

Nigerian Oil, Gas Stocks Lose N178bn In Six Months   Oil and gas companies listed on the Nigerian Stock Exchange reported a loss of about N178.018bn in the first half of 2020 as the coronavirus pandemic continued to take a toll on the industry. An analysis by...

US Import Of Nigerian Oil Drops By 63%     The United States’ import of Nigeria crude oil plunged by 63.03 per cent in the first quarter of this year, compared to the last quarter of 2019. Latest data from the US Energy Information Administration showed that the...

Nigeria’s Oil Export To Drop By 50% This Year — Fitch Ratings     Fitch Ratings, world’s leading risk analysts, has said that Nigeria’s oil export will record a 50 percent decline by end of this year due to the impact of the Coronavirus (COVID-19) pandemic on...

Oil: Nigeria Has Highest Personnel Cost In Global Petroleum Industry   Stakeholders have raised concerns over the country’s production costs, noting that Nigeria has the highest personnel cost among global operators, thus making it difficult to produce oil at a profitable price of below $10/barrel. According to...