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There have been mixed feelings after the fuel pump price was slashed from N145/litre to N125 by the Federal Government, almost two weeks ago. While the fuel marketers said bringing down the price to N125 when they actually brought their…
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The Nigeria Union of Journalists (NUJ) has called on federal and state governments to urgently provide safety kits and palliatives to journalists to enable them to do their work effectively in view of the COVID-19 pandemic. …
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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has handed over the medical equipment donated by the corporation to the University of Abuja Teaching Hospital, Gwagwalada. The NNPC…
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Despite pressures from the US to reach a compromise with Russia, Saudi Arabia continues with its surplus production targetsExperts are of the opinion that global oil demand for the March-April period could come down by around 10 million…
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The Delta state government has exempted members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) from the total shut down of the state to mitigate the spread of the covid-19 scourge in the state. The Commissioner…
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With only a week to go before OPEC+ countries start flooding the world’s total oil production with an estimated extra 2.5 million barrels per day (bpd) amid the Covid-19 crisis, building one of the biggest oil supply gluts the world has…
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Italy’s supermajor Eni has announced that it will reduce Capex in 2020 by around €2 billion, equal to 25% of the total Capex planned, and opex by around €400 million. In 2021, Eni expects a Capex reduction of around €2.5-3 billion, equal…
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Only the old hands at the Coffeyville oil refinery could remember anything like the prices posted this month. The small Kansas plant in the heart of rural America was offering just $1.75 a barrel for Wyoming sweet crude. With more than…
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Nigeria will pump as much crude as it can and continue to sell it at a deep discount, but may eventually have to shut down some unprofitable fields if the price war rumbles on. Africa’s biggest producer has thrown itself into the battle…
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Nigeria and other African economies are projected to record substantial revenue losses, particularly from the oil and gas sector, as the devastating effects of the Coronavirus pandemic continues its devastating toll on the various…
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