Rising Oil Price Puts More Pressure on NNPC’s Finances
Crude oil extended its gains at the weekend after closing at a six-week high with signs of strengthening demand in key markets, thereby piling more pressure on the ability of the Nigerian National Petroleum Corporation (NNPC)...
Oil Hits Six-week High $68.47 As Dollar Weakens
The international oil benchmark, Brent crude, reached its highest in six weeks on Thursday as strong US economic data, a weak dollar and overall expected recovery in demand outweighed worries about the impact of increased COVID-19 cases...
COVID-19: Virus Resurgence Threat To Oil Demand Recovery – OPEC
The resurgence of the COVID-19 pandemic in many countries is posing a threat to economic and oil demand recovery, the Organisation of Petroleum Exporting Countries has said.
It disclosed this at the 16th OPEC and non-OPEC...
Nigeria’s Rig Count drops By 55.34% In Q1, 2021
The rig count of Nigeria has dropped by 55.34 per cent in the first quarter, January–March, 2021 to 19, according to data collated from recent reports of the Organisation of Petroleum Exporting Countries, OPEC.
The rig count,...
Oil Falls To $65 As India’s COVID-19 Cases Surge
The global oil benchmark, Brent crude, declined on Monday as the Organisation of the Petroleum Exporting Countries and its allies indicated that it was watching surging COVID-19 cases in India, the world’s third-biggest oil importer.
Brent crude,...
Consumer Credit Hits N1.6trn In January
The value of consumer credit in the Nigerian economy fell by four per cent to N1.593 trillion in January 2021.
The Central Bank of Nigeria (CBN) revealed this in its monthly economic report for January.
It noted that at the aforementioned...
