The Director General, Budget Office of the Federation, Ben Akabueze, yesterday stated that Joint Ventures (JVs) are bleeding the most as a result of rising crude oil theft and rampant Continue Reading
Out of the 1.772 million barrels per day crude oil allocated to the country by the Organisation of Petroleum Exporting Countries (OPEC) in June, Nigeria was only able to produce Continue Reading
Highlights Oil terminals opened to allow tanker to carry condensate Libya’s oil supply crisis has slashed output by more than half It pumped 650,000 b/d in June, lowest since Oct Continue Reading
An appeal court in U.S on Friday said ExxonMobil Corp and Royal Dutch Shell Plc affiliates may try to enforce part of a $1.8 billion arbitration award against the Nigerian Continue Reading
Flight operations in Nigeria have become precarious as airlines face abrupt disruption of flights due to scarcity and high prices of aviation fuel, which may impair profitability, writes Chinedu Eze Continue Reading
Nigeria lost $1 billion in revenue during the first quarter of this year due to crude oil theft, the petroleum regulator said on Friday, warning the practise was a threat Continue Reading
As Europe seeks to wean itself off Russian natural gas, Algeria, Niger, and Nigeria have revived a decades-old, multi-billion-dollar gas project. The Trans-Saharan Gas Pipeline (TSGP) could send up to Continue Reading
Highlights Eyes around 500,000 b/d in increase in next two months OPEC may not raise output quotas at August meeting Nigeria is increasing crude oil production and has set a Continue Reading
Commuters were, yesterday, stranded in Lagos, Abuja, Oyo and some other states, as the ongoing fuel crisis bites harder in the country. The scarcity, which started in Abuja about three Continue Reading
Nigeria output at multi-decade low, Angola close to the nadir of the early 2000s: S&P Global Nigeria, Angola show biggest over compliance to quotas among OPEC producers Persistent underinvestment, low Continue Reading
