Nigeria’s independent oil producers are being crushed by the oil price crash, with current prices more than two times lower than the costs of local independents’ production. These small independent Continue Reading
Global energy data, financial information and analytics company, S&P Global Platts, disclosed that more than 50 million barrels of Nigerian crude oil for late April and May 2020 loading are Continue Reading
The sheer weakness of the physical oil market can be best explained by the state of the Nigerian crude market. The once coveted light sweet Nigerian barrel is facing one Continue Reading
As countries of the world continue to battle the spread of coronavirus , oil prices crashed below $20 amid a supply glut on Monday. Brent crude fell to $22.58 per Continue Reading
Offshore drilling. Oil rig. The federal government has directed oil and gas companies to reduce the workforce on their offshore platforms in view of COVID-19 pandemic in the country. Director, Continue Reading
Earlier this month, shortly before the global outbreak of the Coronavirus, also known as COVID-19, the price of oil tumbled from $68 to $30 per barrel. It’s a double whammy Continue Reading
Nigeria, Africa’s top oil producer, announced a one-month lockdown to limit the spread of the coronavirus, banning all international flights and shutting land borders. Authorities are advising residents of the commercial Continue Reading
Nigeria may soon slip out of reckoning as a profitable oil producer in the Organisation of Petroleum Exporting Countries ( OPEC ) if crude oil prices decline further by at Continue Reading
Nigeria and other developing countries that rely heavily on oil revenue are set to witness a decline as their income from oil and gas is projected to fall by between Continue Reading
Decades of exposure to gas flaring by the foreign oil refineries in Niger Delta has harmed the health of residents. The harmful plumes of smoke are their constant reminder of Continue Reading
