The naira sustained its decline on the parallel market as it slipped to N445 to the dollar yesterday, lower than the N440 to the dollar it closed on Friday as pressure and activities of speculators continued to hurt the nation’s currency.
But on the interbank...
A Federal High Court in Lagos will on September 30, 2016 hear the suit filed by the federal government against Nigerian subsidiaries of United States multinational Chevron, British-Dutch Shell, Italian ENI’s Agip, France’s Total and Brasoil of Brazilian Petrobas.
The government had filed the suit...
The prices of crude oil in the international market rose by two per cent Wednesday after a surprise drop in crude stockpiles reported by the United States Government for a third week in a row.
Brent crude futures were up 1.8 per cent Wednesday to...
The head of the OPEC oil cartel has warned that sharp cutbacks in investment by petroleum firms poses a threat for future supplies.
Mohammed Barkindo said that after plunging by 26 percent last year, a further 22 percent drop in investment was expected this year.
Oil...
Crude oil export from Nigeria is expected to increase by about 380,000 barrels per day in the next few days, following the expected return of Shell’s Forcados crude pipeline by mid September.
The Chief Executive Officer, Shoreline Group, Mr. Kola Karim, stated that Shell Nigeria’s...
The nation’s foreign exchange reserves have increased by $595m to hit a one-month high of $26.196bn, the latest data from the Central Bank of Nigeria have shown.
This came on Monday just as the naira traded around 412- 413 against the United States dollar at...
