Professor Kingsley Moghalu, former Deputy Governor, Central Bank of Nigeria and President, Institute for Governance and Economic Transformation, is a Distinguished Non-Resident Fellow and Senior Fellow, Council on Emerging Market Enterprises, The Fletcher School of Law and Diplomacy, Tufts University Massachusetts, USA. In this online interview with ADEMOLA ADEGBAMIGBE, he speaks on leadership problem in […]
Continue Reading
The Minister of State for Petroleum Resources, Chief Timipre Slyva, said that about one billion Barrels of Crude oil have been discovered in Northeastern part of Nigeria. Sylva made the disclosure at a news Conference to end the 2020 Nigeria International Petroleum Summit (NIPS), in Abuja on Wednesday. “The figure we are getting, the jury […]
Continue Reading
International oil benchmark, Brent crude, on Monday hit $75 per barrel and rose further amid growing geopolitical tensions in the world. Brent, against which Nigeria’s crude oil is priced, stood at $75.16 per barrel as of 8:15pm Nigerian time, while the United States’ marker, West Texas Intermediate, traded around $68.36 per barrel. The rise in […]
Continue Reading
An improvement in Nigeria’s oil earnings is on course as prices held firm on Friday near three-year highs reached earlier this week as ongoing OPEC-led supply cuts, as well as strong demand, gradually draw down excess supplies. Brent crude oil futures were up at 73.79 dollars per barrel at 0440 GMT. U.S. West Texas Intermediate (WTI) […]
Continue Reading
A report released by the National Bureau of Statistics, NBS, has shown that Nigeria earned N3.738 trillion from the export of crude oil and petroleum products in three months, from October to December 2017. The NBS, in its Foreign Trade Statistics for the Fourth Quarter of 2018, stated that petroleum products export accounted for 95.58 […]
Continue Reading
Oil prices rose on Wednesday lifted by a report that U. S. crude inventories fell last week. Brent crude futures were at $67.84 per barrel. U.S. West Texas Intermediate (WTI) crude futures were at 63.85 dollars a barrel. That was up 46 cents, or 0.7 per cent from their last settlement. The market was supported […]
Continue Reading
The Kaduna Refining and Petrochemical Company (KRPC) shut down operations on January 15 due to the non availability of crude oil. Abdullahi Idris, executive director, services, of KRPC, disclosed this to NAN in Kaduna. He said the refinery, whose fuel plant was commissioned in 1980, was functioning at 60 percent capacity “but shut down on […]
Continue Reading
The price of brent crude oil rose to 70 dollars a barrel on Monday, supported by ongoing output cuts led by OPEC and Russia, and ignoring a rise in U.S. and Canadian drilling activity that points to higher future output in North America. Brent sweet crude futures, the international benchmark for oil prices, were at […]
Continue Reading
As of 2pm on Tuesday, Brent Crude the international benchmark of crude oil traded at $64.01, the highest since President Muhammadu Buhari assumed office in May 2015. US West Texas Intermediate (WTI) traded at $57.30, its highest in months. Price has been on a rise since August 2017 when it traded at $47.47. Members and […]
Continue Reading
Oil markets were firm on Monday, with Brent crude opening above $60 per barrel on expectations an OPEC-led production cut due to expire next March would be extended. Brent crude oil futures, the international benchmark for oil prices, were at $60.63 per barrel at 0018 GMT, up 19 cents or 0.3 per cent from their […]
Continue Reading