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Tuesday, September 19, 2017
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House of Representatives to investigate crude oil swap contracts

Nigeria's House of Representatives agreed on Wednesday to set up a committee to investigate whether the government has been short-changed by a state oil...

Nigeria to loose $6.9 million/day as NPDC workers commences indefinite strike action

At least 115,000 barrels of crude oil per day, estimated at $6.9 million, may have been shut-in as Nigerian Petroleum Development Company (NPDC) workers,...

Fuel Subsidy, N4.5trn Spent Can Build 4 New Refineries- NEITI

The Nigeria Extractive Industries Transparency Initiative (NEITI) has reiterated its position that the federal government’s continuous application of scarce funds to subsidise domestic consumption...
falling-oil-prices

Oil price fall on oversupply concerns, weak economic data

Oil prices fell on today on worries over a global glut, while surveys showing a contraction in manufacturing activity in China and Japan also...

NLNG Revenue generation Hits $85bn From export

The Nigeria Liquefied Natural Gas Company Limited (NLNG), a joint venture between the federal government and foreign oil majors, has generated some $85 billion...

Oil Subsidy: President Buhari may Privatise Four Refinery- Report

Nigeria's new president, Muhammadu Buhari, has been advised by his transition committee to end a fuel subsidy programme and privatise Nigeria's four refineries, senior...

Fuel Subsidy: FG Spent N4.5trn in 7 years- NEITI

The federal government spent a whopping N4.5trn on fuel subsidy claims between 2006 and 2012, according to the audit reports of the Nigerian Extractive...
oil

OPEC’s crude oil supply rises to 31.33mbpd

The supply of crude oil by Organisation of Petroleum Exporting Countries (OPEC) in May edged up 50, 000 barrels ber day (bpd) to 31.33...
Fuel tanks

Nigeria begins investigating crude oil swap contracts

Authorities in Nigeria have launched an investigation to determine whether the government has been short-changed by a state oil company scheme to swap crude...
oil

Nigeria’s crude oil production output up by 230,900 bpd

NIGERIA’S crude oil production output for May, increased by 230,900 barrels per day (bpd), according to the monthly oil market report of the Organisation...