Nigeria’s economy is bracing for a dramatic slump as the fallout from the oil price crash and the coronavirus pandemic will be devastating on its oil and natural gas industry. Continue Reading
Nigerian President Muhammadu Buhari urged international financial institutions to cancel the debt obligations of member states to help them withstand the fallout of the coronavirus pandemic. In a meeting with other Continue Reading
The Chief Executive Officer of the New Horizon Systems Solution, Mr. Tim Akano, has advised the federal government to prioritise funding of the Dangote Refinery, as part of its strategy Continue Reading
Gone are the days when Somalia’s Gulf of Aden was considered the most dangerous piracy zone for oil companies and other seafarers. But now, with offshore oil storage bursting at Continue Reading
The oil price crash isn’t getting any easier for Nigeria. Late on Monday, the nation released the prices for most of its crude oil grades for sale in May. The figures Continue Reading
The crash in oil prices and the economic fallout from the coronavirus together pose what could be an existential threat for Africa’s largest economy and biggest crude producer. Nigeria, a Continue Reading
Africa’s largest oil producer, OPEC member Nigeria, has yet to figure out how and from where to cut production as part of the OPEC+ deal, and this has led to Continue Reading
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
As COVID-19 continues to spread worldwide, the pandemic is having an unprecedented impact on the global economy and commodity markets, including cobalt. With countries imposing prevention and control measures against 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
