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OPEC warns of crude oil glut in 2019

OPEC warns of crude oil glut in 2019

    The Organization of the Petroleum Exporting Countries (OPEC) on Tuesday warned that an oil supply glut could emerge in 2019 as the world economy slows and...

NNPC TOWERS 2

NNPC rakes in $470m from crude oil, gas export in August

The Nigerian National Petroleum Corporation (NNPC) has said it earned $470 million from crude oil and gas sold to the international market in August this year. The...

4TH - Agip

$55m crude oil shipment: FG closes case in suit against Agip

The Federal Government on Tuesday closed its case at a Federal High Court Lagos, in a $55 million debt recovery suit it filed against Agip Oil Company Ltd. The suit,...

South Sudan boosts oil output by 70,000 bpd

Japan to resume crude oil imports from Iran

Japan’s Trade Minister, Hiroshige Seko, on Tuesday, said Japanese buyers of Iranian crude oil are expected to prepare to resume imports from the Middle Eastern...

Crude oil dips over global economy outlook

Crude oil dips over global economy outlook

Crude oil prices on Monday fell, as concern over the global economy put crude on track for its biggest monthly fall since mid-2016. Brent crude oil futures were down 34...

Dr. Maikanta Baru

NNPC GMD says Nigerian shipping companies lack capacity to lift crude oil 

Group Managing Director of the Nigerian National Petroleum Corpoation (NNPC), Dr. Maikanta Baru has said that Nigerian shipping companies do not have the capacity to...

Crude oil dips over demand concerns

Crude oil dips over demand concerns

Crude oil on Wednesday fell towards $75 a barrel to its lowest since late August, pressured by concern that demand is weakening amid ample supply ample as U.S. sanctions...

Femi Falana

Citing NIMASA documents, Falana says $12.7bn crude oil stolen in 4 years

Lawyer and human rights activist Femi Falana SAN has called on oil workers union to prevail on the Nigeria government to recover about $12.7 billion worth of crude oil...

2018 a bad year for crude oil tankers – BIMCO 

2018 a bad year for crude oil tankers – BIMCO 

A historically bad crude oil tanker market is struggling to find solid support, BIMCO said in its latest report. Earnings for very large crude carriers (VLCCs) in the...

Commission okays Norway's $1tr wealth fund oil stocks investments

Crude oil falls as Saudi, Russian hike output

Crude oil prices fell on Monday as supplies from Saudi Arabia and Russia rose while economic growth stumbled in Asia amid an escalating trade dispute with the United...

Navy impounds crude oil vessel in Delta

Navy impounds crude oil vessel in Delta

The Nigerian Navy Ship (NNS), Delta has impounded a vessel containing over 386,000 litres of crude oil, alongside nine crew members in Delta State. Commander of the...

Commission okays Norway's $1tr wealth fund oil stocks investments

Is the recovery of crude oil price a good omen for Nigeria?

The rising crude oil price should have a favourable impact on the Nigerian economy. Granted that we still import petroleum products and a sustained oil price rise could...