Saudi Arabia: From Oil Dependency to Global Hub of Opportunities, by MU Abubakar   In a bold and transformative move, the Kingdom of Saudi Arabia is rapidly redefining its societal and economic landscape through its Vision 2030 initiative. Rooted in the aspiration to diversify the country's economy...

First Oil From 2020 Marginal Field Bid Underway - NUPRC   Some of 2020 marginal field bid round investors are on the stage of striking their first oil. It would be recalled that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) concluded the bid mid-last year. Chief Executive Officer,...

Oil Products Import Decline To N1.87trn In Q4, 2022   The National Bureau of Statistics (NBS) has said oil products imports dipped from N2.29trillion in the third quarter to N1.87 trillion in fourth quarter of last year. This was contained in a document that The Economic Confidential...

Nigeria’s Oil And Revenue Now $742.48bn - NEITI   The Nigeria Extractive Industries Transparency Initiative (NEITI) has said the Federal Government has earned $741.48billion revenue from the oil and gas sector. The earnings, according to the Executive Secretary Dr. Orji Ogbonnaya Orji, do not include the ones...

In One Month, Nigeria Recovered Stolen Oil Worth N86.2bn   Different government security outfits operating across the country have recovered stolen oil worth N86.2bn in August. A total of 16, 000 litres of diesel valued at N800/litre (N12.8m) were on Monday reported to have been recovered by...

FG Blames Vandalism, Theft, Subsidy As Nigeria’s N9trn Oil Revenue Becomes Threatened Nigeria’s oil production slumped by 28 million barrels between January and July 2022, threatening the Federal Government’s N9.37tn oil and gas revenue target by the end of the year. The Federal Government, in the...