Tags Crude oil

Tag: Crude oil

Oil price gains for fifth consecutive month

The OPEC Reference Basket increased $3.51 or 5.7 per cent m-o-m (month-on-month) to average $64.56/barrel, the highest on monthly terms since January 2020.”

Emefiele charges on the need for Nigeria to end crude oil dependency

He noted that the ABP had significantly contributed in cutting down rice importation in the country, while the Commercial Agriculture Credit Scheme recorded considerable beneficiaries who have greatly contributed to the nation’s drive for sustained food security.

Investigation shows Oil firms spill 3,346 barrels of crude oil in eight months

On a company by company basis, the report revealed that Shell Petroleum Development Company, SPDC, recorded the highest spills, with 1,335.05 barrels of crude oil spilled in 17 incidents; followed by ND Western, with 1,280 barrels of crude oil spilled in five incidents.

NNPC rules out equity sale, reduces debts in JV with Shell, Chevron, others to $2bn

The Nigerian National Petroleum Corporation (NNPC) has backpedalled from selling its equity in oil assets because of low oil prices and...

India sends team to Mauritius to tackle oil spill

India has sent technical equipment and a team of specialists to Mauritius to help local authorities deal with an environmental crisis...

Oil communities, group differ on sacking Akpabio, IMC

Host Communities of Nigeria, HOSCON, and Equity Assembly, a coalition of campaigners in Niger Delta have disagreed on the demand to...

Oil workers draw battle line with FG over import-driven deregulation

“Our refineries cannot be sold just like that, they are huge national assets; they should rather be revitalised for security and strategic reasons, and operate profitably.

Why I granted approval to firm standing trial in court for stealing crude oil to auction it –Malami

The accused included a businessman and chieftain of the All Progressives Congress in Edo Central Senatorial District, Chief Francis Inegbeneki; Chief Executive Officer of Omoh-Jay Nigeria Ltd., Itepu; Omoh-Jay Nigeria Ltd and Ine Oil Ltd owned by Inegbeneki.

Surveillance company uncovers crude oil theft in Rivers community

Activities of oil theft have continued unabated at Bille Kingdom under Degema Local Government Area of Rivers State, a pipeline surveillance...

Saudi, Russia still at odds over plans for oil cuts hours before talks—sources

By Rania El Gamal. Saudi Arabia and Russia still need to resolve differences over plans for deep global...

Ten signs the oil industry is bent out of shape

By David Gaffen The oil industry has been hit by a simultaneous demand and supply shock in March as...

Oil price may fall to $10 a barrel as world runs out of storage space

Facilities thought to be 75% full with Saudi Arabia due to ramp up output as demand falters amid coronavirus shutdowns

Oil price sinks to $24, lowest in 17 years

’Femi Asu The price of Brent crude, the international benchmark, tumbled on Wednesday to the...

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Scam: South African brothers vanish with $3.6 billion in Bitcoin

This is not the first time cryptocurrency scams are happening in South Africa. This comes just after last year’s collapse of another South African Bitcoin trader, Mirror Trading International.

Policeman shot by suspected kidnappers is buried in Ekiti

the late police inspector was survived by an 80-year old mother, Mrs Olubiyo Abiola, a young wife and four female children, who are all in primary schools.

CSOs blast NASS over embarrassing leaking roof, flood during sitting

“It would be helpful for the NASS to review maintenance expenditure budgets over years to see exactly why the complex has been so badly maintained that it now requires the level of refurbishment that is being contemplated.”

N895.8bn Supplementary Budget scales second reading in Senate

“It has become necessary to prepare the 2021 supplementary appropriation bill considering the urgent need to make provision for procurement and administration of COVID-19 vaccines.