The Nigerian National Petroleum Corporation (NNPC) has assured motorists and other consumers of availability of petroleum products during the festive period. Group Managing Director, Dr. Maikanti Baru, in a statement on Wednesday said that the NNPC has 37 days fuel sufficiency of which strategies had been put in place to ensure that Nigerians experience a…
By Nick Cunningham Warning signs about the slowing of the global economy continue to crop up, and market jitters are taking the steam out of oil prices. U.S. corporate earnings are no longer sky-high, with a range of factors starting to cut into margins. The U.S.-China trade war has not made headlines in the same…
By Oke Peter Minister of State for Petroleum Resources, Dr. Emmanuel Kachikwu, has received the Burj CEO Award for leader-ship, won by Dr. Hage Geingob, President of the Republic of Namibia in 2017. Dr. Kachikwu was unanimously selected by the screening team and awarded the prestigious African Leadership Award of the Year at an event…
The Cross River State command of the Nigeria Security and Civil Defence Corps on Wednesday arrested seven suspected oil thieves with over 200 drums of adulterated crude worth over N10m. The Punch has reported. The state Commandant of the NSCDC, Mr Stephen Lar, at the Jebbs area in Calabar South, said the arrest was made…
The Nigeria Security and Civil Defence Corps (NSCDC), Edo State Command, has intercepted a truck laden with 45,000 litres of suspected illegally-refined petroleum products. The State Commandant of the NSCDCM, Mr Makinde Ayinla, made the disclosure to the News Agency of Nigeria (NAN) in Benin on Tuesday. Ayinla said that the truck was intercepted at…
By Julianne Geiger The American Petroleum Institute (API) reported a huge build of 9.88 million barrels of United States crude oil inventories for the week ending October 19, compared to analyst expectations that this week would see a hefty build in crude oil inventories of 3.694 million barrels. Last week, API reported a surprise draw…
A deep research into the unemployment rate in Nigeria which has reached a sky-high level reveals that incessant power failure was one of the major problems confronting the nation’s economy. This drift has led to the gradual collapse of manufacturing industries in Nigeria. It is worrisome that Nigeria has not had it so good in…
Damilola Shittu with Agency Report President of the Senate, Bukola Saraki, said the National Assembly will continue to mount necessary pressure to get presidential assent to the Petroleum Industry Governance Bill. Saraki spoke at a dinner organised as part of activities at the ongoing 24th Nigerian Economic Summit in Abuja on Monday. The News Agency…
By Energy WorthThe Ambassador of Norway to Nigeria, Jens-Petter Kjemprud, has expressed the readiness of his country to deepen its ties in Nigeria, especially in the oil and gas sector. Speaking at a stakeholder’s meeting to promote investment opportunities and incentives for Nigerian investors in Norway on Thursday, the diplomat advised the Federal Government to…
By Nick Cunningham Saudi Arabia and Russia could formalize a strategic partnership that would last indefinitely, potentially marking a new era for the oil market. In a wide-ranging interview with TASS, Saudi oil minister Khalid al-Falih said that he hopes to setup an official OPEC+ governing body, including a Secretariat, likely to be based in…
