Economy

Minister, NNPC’s GMD Consulting With IOCs to Reach an Agreement By Teddy NwanunobiThe desire to attract more oil investments has propelled the Federal Government to refine the Petroleum Industry Bill (PIB) with some key changes in…
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*Minister, NNPC’s GMD Consulting With IOCs to Reach an Agreement By Teddy NwanunobiThe desire to attract more oil investments has propelled the Federal Government to refine the Petroleum Industry Bill (PIB) with some key changes in…
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By Teddy Nwanunobi A report from the US Energy Information Agency (EIA) has revealed that the United States slashed its imports of Nigerian crude oil by 64.12 per cent in 2020 to the lowest in five years.Last year, the US bought…
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House of Representatives, yesterday, said the country is currently losing $750 annually to gas flaring.House Committee on Gas Resources Chairman, Nicholas Mutu, stated this at an investigative hearing organised by the joint Committee…
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Nigeria’s foreign exchange (forex) reserves rose from $34.94 billion last November to $36.23 billion by January 21, 2021 on the back of increase in global crude oil prices.Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, who…
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…Increases Gas Supply to Power Plants by 8.60%The Nigerian National Petroleum Corporation (NNPC) has announced that its downstream subsidiary, the Petroleum Products Marketing Company (PPMC), recorded a total of ₦158.04 billion from…
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*Experts point way forwardRevenue from oil export fell by a whopping 41.44 per cent to $2.033 billion in the first nine months of 2020, compared to $3.47 billion received in the corresponding period of 2019, data from the Nigerian…
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Nigeria is leading the West African region in Liquefied Natural Gas, LNG, export and relatively exposed to spot market, according to data monitored by Oriental News Nigeria.Exports of LNG from West Africa’s four producers showed…
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India in the third quarter of last year topped list of crude oil export destinations of Nigeria, according to newly released data from the Africa’s largest economy bourse, NBS.The Nigerian Bureau of Statistics in its Commodity Price…
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President Muhammadu Buhari on Thursday in Abuja signed the 2021 Appropriation Bill of N13,588,027,886,175 into law. The president’s action followed the earlier passing of the bill by the National Assembly on Dec. 21 during an emergency…
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