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Demand for oil around the world will fall by around nine million barrels per day in 2020, OPEC said Wednesday.Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman Al-Saud and Russia's Energy Minister Alexander Novak are seen at…
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…as NNPC slashes ex-depot PMS price to N108/litre The delay by the Petroleum Product Pricing Regulatory Agency (PPPRA) to review the price of Premium Motor Spirit (PMS), popularly known as petrol, for May has increased the profit margin…
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When President Muhammadu Buhari appointed Mallam Mele Kyari in June last year as the 19th Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, it did not come to many Nigerians as a surprise. Here is a man who,…
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Brent crude is likely to trade in the range of USD 20 to USD 40 a barrel in the medium term or till the Covid-19 infections abate, as per IcraThe oil prices fell also because crude has been in substantial oversupply since February Crude…
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Crude oil, Nigeria’s biggest revenue earner, yesterday surged past $30 per barrel,heightening hope for the country’s budget. Nigeria, which hitherto announced $57 per barrel oil benchmark in the 2020 budget, has been forced to crash the…
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•Calls for non-oil export diversification economy The Managing Director of Nigerian Ports Authority (NPA), Ms Hadiza Usman, has disclosed that the Federal Government exported 78 per cent of crude oil cargo,  while the remaining 22 per…
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States that have not benefited from medical facilities and infrastructure support from the Nigerian National Petroleum Corporation (NNPC) and her partners in the ongoing intervention initiative have no cause to worry. The corporation’s…
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This is in addition to a 9.7 million barrels cuts agreed on by the Organisation of Petroleum Exporting Countries (OPEC) and its allies. Saudi Arabia announced that it would further cut output by one million barrels per day, Kuwait by…
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The Nigerian National Petroleum Corporation (NNPC) Tuesday in Abuja announced that the total revenue recorded from the sales of white products for the period February 2019 to February 2020 stood at about N2.6 trillion, with petrol…
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Nigerians consumed about 1. 2 billion litres of petrol in January, with a daily utilisation rate of 38.6 million, a report by the Nigerian National Petroleum Corporation (NNPC), has shown. The corporation also announced that for the…
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