Category: Business News

Former President, Chief Olusegun Obasanjo, has commended the Management of the Nigerian National Petroleum Corporation (NNPC) for ensuring an uninterrupted supply of petroleum products which he noted was an integral part of energy security in the country.  In a speech presented on his behalf by an aide to the former President, Chief Idowu Akanle, at…

By Oke Peter The Former Deputy Governor of Central Bank of Nigeria (CBN) on Thursday charged the federal government to amend some structures of public corporations such as the Nigerian National Petroleum Company (NNPC) to create room for improvement and accountability. The former deputy governor of the country’s apex bank, Professor Kingsley Moghalu, made the…

Total has inaugurated the new units at its Antwerp integrated refining and petrochemicals platform, which have progressively started up in the last few months. This event marks the completion of the upgrade program launched in 2013 of one of the largest and most efficient integrated refining and petrochemicals platforms in Europe. Thus, the company has…

Russia’s Energy Minister, Alexander Novak, expects OPEC and its allies to reach a decision on Thursday to extend their pact to curb oil output as signs of a growing consensus emerged with the cartel’s biggest producer Saudi Arabia. “We have reached in general a mutual understanding” on the future of the deal, Novak said in…

Russia’s Energy Minister, Alexander Novak, expects OPEC and its allies to reach a decision on Thursday to extend their pact to curb oil output as signs of a growing consensus emerged with the cartel’s biggest producer Saudi Arabia. “We have reached in general a mutual understanding” on the future of the deal, Novak said in…

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru has added a major laurel to his growing list of honours since assumption of office following his recent nomination as the Forbes Best of Africa Oil and Gas Man of the Year 2017 Award by the New York based Internationally reputable…

At a time that international crude oil market is getting more competitive, the Hungarian Government has indicated interest to purchase crude oil and Liquefied Natural Gas (LNG) from Nigeria. The Hungarian Ambassador to Nigeria, Professor Gabor Ternak, who disclosed this during a courtesy call on the Group Managing Director of the Nigerian National Petroleum Corporation…

With tensions between Saudi Arabia and Iran ratcheting up and OPEC about to announce its plans for global crude supply, investors would be forgiven for anticipating a few gyrations in oil prices. The opposite has happened: the market is the calmest it’s been for almost nine months. Implied volatility, a gauge of expected price moves,…

Royal Dutch Shell Plc will pay its entire dividend in cash for the first time in more than two years as Europe’s biggest oil company seeks to demonstrate it has left the worst of the crude slump behind. From this quarter, Shell will no longer offer shareholders the option to take the payout in stock, it…

An international oil giant, Total has  announced its first oil from the Libra mega-field, located in ultra-deep waters 180 kilometers offshore Rio de Janeiro, in the pre-salt Santos Basin in Brazil. The floating production, storage and offloading (FPSO) unit Pioneiro de Libra has a capacity of 50,000 barrels of oil. This start-up of the early…