Nigeria’s economy may struggle to rebound from its worst slump in 25 years unless President Muhammadu Buhari can end an armed conflict in the nation’s oil-producing region and fix a Continue Reading
Fitch Ratings Ltd. revised the outlook on Nigeria to negative from stable over concerns that a lack of foreign exchange will hamper the economy, and affirmed the West African nation’s Continue Reading
General Electric Co ( GE.N ) has proposed investing in Nigeria’s oil refineries, potentially convening a consortium of companies to improve capacity at the run-down facilities. GE’s plan and similar Continue Reading
Oil Reaches Mid-$60s in Months Crude oil prices, hovering around $55 a barrel since early December, will climb by about $10 in the coming months as OPEC-led measures to curb Continue Reading
The Nigerian Military has denied reports that militants blew an oil pipeline in Delta State after Vice President Yemi Osinbajo’s visit, saying it was a bush-burning incidence that was put Continue Reading
Citing possible terrorism, Nigerian media reported Wednesday an oil pipeline was on fire less than a day after the vice president was in an oil-rich region. Nigerian newspaper Vanguard reported Continue Reading
Nigeria may have reclaimed its position as Africa’s top oil producer which it lost to fellow African oil producer, Angola earlier in March 2016. According to the December 2016 Monthly Continue Reading
The inability of petroleum marketers to pay or service banks loans in the last two years is threatening further importation and could worsen the financial position of banks. The marketers Continue Reading
Despite intractable militancy and ongoing theft from pipelines which has hobbled its oil production, Nigeria’s government remains resolutely upbeat over its plans to turn things around in 2017. Nigeria, which Continue Reading
A court in London will decide in coming weeks whether Royal Dutch Shell can face trial in the UK over oil spill allegations in Nigeria, a decision some legal experts Continue Reading
