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OPEC and OPEC+ member countries have finally decided to cut oil production by 9.7 million barrels a day starting on May 1st, 2020 and until June 30th, 2020.
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The curtailment of crude oil production by 9.7 million barrels promises an appropriate balancing of Nigeria’s 2020 budget that has been rebased at $30 per barrel.
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Equatorial Guinea continues to be proactive in encouraging foreign direct investment into the country
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Nigeria will receive seventeen ship imports before the end, out of which, 15 of them are carrying fuel. This information was revealed by the Nigerian Ports Authority, NPA, in its daily publications ‘Shipping Position’. The report, according to NAN, further discloses that the ships are expected to arrive between March…
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Nigeria will lose an estimated $6 billion in revenue to international oil companies, Shell and Eni, over the deal on the controversial oil block, widely known as Oil Prospecting License (OPL) 245. icirnigeria.org reported the new findings quoting a report by Global Witness called Take The Future. According to icir.org,…
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NNPC Boss, Dr Baru said that the Corporation would continue to live up to its responsibility by intervening in the supply of deregulated petroleum products to ensure supply sufficiency.
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The Department of Petroleum Resources (DPR) has sealed four petrol stations in Abuja for hoarding, under dispensing and other sharp practices in selling Premium Motor Spirit (PMS)
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The Group CEO of Oando Plc, Adewale Tinubu, has blamed the company’s record loss on falling crude oil prices and the weakness on the naira.
Continue reading Chris Igwe, Managing Director, Mainland Oil and Gas, on Tuesday said the company planned to invest about N2 billion in mega filling stations across the country.
Continue readingThe federal government has asked the Polish government to support it with expertise especially in the area of transmission as the existing lines in the country are old and weak.
While soliciting their support to develop the nation’s evacuation of…
