Actors and other stakeholders in the Nigerian movie industry, a.k.a Nollywood, said on Tuesday that the industry is a potential alternative to the ailing oil sector. In separate interviews with Continue Reading
Record government spending — and having to borrow to fund almost half of it — spells trouble for investors in the bonds of Africa’s biggest oil producer. Nigeria’s naira debt Continue Reading
OWING to a further slide in prices and additional shut-in of about 35,000bpd in Usan and Yoho Terminals, Nigeria’s export earnings in 2015 from the sale of crude oil declined Continue Reading
Minister of Labour and Employmen Chris Ngige has called on the major oil companies planning to lay off workers due to the dwindling price of crude in the international market Continue Reading
The state oil company in Nigeria, Africa’s biggest producer of crude, made a 267 billion naira ($1.34 billion) loss last year, dragged down by its refining division. Sales of 2 Continue Reading
Obviously in response to the lingering fuel crisis and the loud complaints by suffering consumers, the management of the Department of Petroleum Resources, DPR, may have decided that enough was Continue Reading
There was panic yesterday among indigenes of coastal communities of Brass Local Government Area of Bayelsa State following explosions from Oil Pipelines owned by Nigerian Agip Oil Company (NAOC). The Continue Reading
Nigeria’s government is in talks for concessionary loans worth $3.5 billion from the World Bank and African Development Bank to help finance a planned record budget this year, Finance Minister Continue Reading
As Nigerian President Muhammadu Buhari visits the country, little might be said in public about a yesteryear multi-million-shilling 30,000 barrels of crude oil per day deal that ended up in Continue Reading
Nigeria’s revenue agency said Trafigura Beheer BV owes back taxes for handling 12.5 million metric tons of crude through crude swap contracts with the government between between 2011 and 2014. Continue Reading
