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Crude oil dips over global economy outlook

Oil rises to two-month high amid demand recovery

  Oil rose to levels not seen since COVID-19 lockdowns paralyzed the world’s largest economy, lifted by signs of recovering demand and news of a viable...

President Muhammadu Buhari

Buhari: What we earn from oil does not meet our needs 

  President Muhammadu Buhari says although Nigeria is rich in petroleum resources, the earnings from oil is not enough to take care of the country’s needs. The...

Crude oil dips over global economy outlook

Nigeria earned $21bn from oil, gas sector in 2017 – NEITI

  The Nigeria Extractive Industries Transparency Initiatives (NEITI) says Nigeria earned 21 billion from the oil and gas sector in 2017. NEITI disclosed this in its...

prison hand

Two sent to prison in Rivers for illegal dealings in oil

  A Federal High Court sitting in Port Harcourt, Rivers State has sentenced Michael Adamu to two years imprisonment for dealing in petroleum products without an...

Buhari presents N8.1tr 2020 budget, pegs oil benchmark at $57

Buhari presents N8.1tr 2020 budget, pegs oil benchmark at $57

  President Muhammadu Buhari has presented the 2020 appropriation bill with total expenditure of N10.73 trillion to the National Assembly. While presenting the...

Senate approves MTEF, raises oil benchmark to $57

Senate approves MTEF, raises oil benchmark to $57

  The Senate has approved the 2020 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). The MTEF and FSP are documents that provide the...

Iran warns U.S. against seizing oil tanker released by Gibraltar 

Iran says tanker oil sold at sea, buyer sets destination

  Iran’s envoy to London said on Wednesday the oil cargo of tanker Adrian Darya 1 was sold at sea to a private company, denying Tehran had broken assurances it...

Ship owner, master face trial for dumping oil off Australia

Ship owner, master face trial for dumping oil off Australia

  A shipowner and a master are facing trial after being accused of discharging around 90 tonnes of oil from a bulk carrier into Queensland waters in July 2015....

Iran warns U.S. against seizing oil tanker released by Gibraltar 

Iran sells off oil on tanker seized by Gibraltar 

  Iran has sold the oil on the tanker which was detained by Royal Marines off Gibraltar, an Iranian government spokesperson has said. Iran did not say who it had...

Trump

U.S. exempts oil majors from Venezuela sanctions

After the U.S. president signed an Executive Order on August 5 blocking all Venezuelan government property in the United States, the sanctions were interpreted as having...

Gibraltar detains oil supertanker heading to Syria

Gibraltar detains oil supertanker heading to Syria

Gibraltar said on Thursday it had detained the supertanker Grace 1 on suspicion of carrying crude oil to Syria in what a legal source said may be the first such...

Oil rises towards $65 on fears of U.S. attack on Iran

Oil rises towards $65 on fears of U.S. attack on Iran

Oil prices rallied towards 65 dollars per barrel on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than 20...