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Hearing continued today, and a judge’s ruling was due to determine whether the Nigeria’s government can continue its appeal and present its full case of alleged fraud in the $10 billion, P&ID judgment against Nigeria in UK in 2017. …
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Nigerian National Petroleum Corporation (NNPC) has revealed that the controversial petrol subsidy took over N101 billion from the country’s coffers in the first three months of 2020. CBN Monthly Financial and Operations for March 2020,…
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There is unease in the global oil circuit as OPEC Joint Ministerial Monitoring Committee (JMMC) warm up for a talk, today and tomorrow where lower levels for future output cuts might be proposed. Reuters reported yesterday that oil prices…
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Saudi Arabia commended Iraq for implementing almost all its pledged oil-production cuts and Nigeria told the kingdom it was committed to hitting its target, in further signs that disputes among OPEC+ members over cheating of quotas are…
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A move by the African Refiners and Distributors Association (ARA), and the African Union (AU), to ensure common standard for the importation and refining of petroleum products on the continent remains critical to trade, environment and the…
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There was no slow-down in crude oil production on the facilities controlled by over 20 Nigerian independents in April 2020, even as fall in demand remained the status quo and crude oil cargoes were chasing buyers. Seplat produced over…
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Minister of State for Petroleum, Chief Timipre Sylva, has said that his ministry will within two weeks transmit the revised Petroleum Industry Bill (PIB) to the National Assembly for passage into law. He also put the value of the…
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Oil edged lower ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus surges unabated in many parts of the world. Futures in New York fell below $40…
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The Federal Government says it can no longer bear the burden of petrol subsidy. The Minister of State for Petroleum Resources, Timipre Sylva, said this in a statement on Thursday. He said the government had realised that it was…
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Call on OPEC to surge by 25% to 29.8 million barrels a dayUS production to see limited growth after this year’s loss OPEC expects demand for its crude oil to rebound sharply next year, surpassing levels seen before the coronavirus…
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