Nigeria Loses N125bn Oil Revenue To COVID-19      Nigeria’s oil revenue target fell by N125.52 billion in the first quarter (Q1, 2020) to N940.91 billion, according to figures released yesterday by Minister of Finance, Mrs. Zainab Ahmed. The shortfall, attributed to the double whammy of the headwind...

DPR Yet To Issue Guidelines On Marginal Field Bid Rounds   The Federal Government, through the Department of the Petroleum Resources (DPR), yesterday, said it is yet to issue guidelines on the proposed bid rounds in Nigeria’s marginal oil fields, adding that such exercise cannot be...

Canada Trade Deficit Widens As Oil, Car Exports Drop   Despite keeping its borders open for goods shipments during the coronavirus pandemic, Canadian trade fell in March while its trade deficit widened to Can$1.4 billion (US$1 billion), according to data released Tuesday. The figure, up from a...

COVID-19: Oil Prices Rise As Countries Ease Lockdown     Oil extended gains in Asia Tuesday on signs of improving demand as coronavirus-hit major economies begin to ease strict curbs and as top producers slash output. US benchmark West Texas Intermediate for June delivery was up 7.26 per...

Nigeria Cuts Oil Exports To Meet OPEC Deal     Nigeria has revised down its crude oil export programme for May and June to align itself with a global production cut deal led by the Organisation of Petroleum Exporting Countries, loading programmes showed. OPEC and its allies agreed...

US Oil Slips Below $15 Per Barrel   US oil prices fell heavily on Monday and slipped below $15 a barrel on renewed storage concerns as the coronavirus throttles demand, even as producers start slashing output to boost markets. American benchmark West Texas Intermediate dropped 15 percent...