The Minister of Transportation, Mr Rotimi Amaechi, says has lamented the wastage under the administration of Peoples Demoractic Party (PDP). Amaechi said former President Olusegun Obasanjo left $65 billion in the excess crude account but it was frittered away. Amaechi made the disclosure to the News Agency of Nigeria (NAN) on the sidelines of the […]
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Oil prices rose on Wednesday, lifted by a fall in U.S. crude inventories and concerns that tensions in the Middle East could disrupt supplies. Brent crude futures, the international benchmark for oil prices, were at 58.27 dollars at 0131 GMT, up 39 cents, or 0.7 per cent from their last close – and a third […]
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The prices of oil has hit more than two-year high, after major producers said the global market was on its way toward rebalancing. The November Brent crude futures contract was up $1.51, or 2.5 per cent, at $58.37 a barrel, its highest since July, 2015. United States (U.S.) West Texas Intermediate crude for November delivery […]
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Oil price rose on Wednesday in spite of a rise in U.S. crude inventories with the market heading for its largest 3rd quarter gain in 13 years after the Iraqi oil minister said OPEC and its partners were considering extending or deepening output cuts. Brent crude futures rose to 56.20 dollars a barrel by 12:19 […]
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Oil prices hit a two-month high on Monday as a result of the tightening of US crude market and the threat of sanctions against OPEC-member, Venezuela. Brent crude futures traded at $52.90 per barrel, its highest since May 25, while West Texas Intermediate (WTI) rose by 16 cents to trade at $49.87 per barrel. Oil […]
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Peter Obi Former Governor of Anambra State met with some journalists in Anambra State recently where he spoke on various burning national issues. Worthy of note was the alleged mismanagement of Nigeria’s economy by Dr. Ngozi Okonjo Iweala. “It is rather unfortunate that we have this attitude of trying to pull down our best. Dr. […]
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BY AYO OLOWO The Nigerian National Petroleum Corporation NNPC says the Port Harcourt and Warri refineries have commenced petroleum production after some in-house engineers conducted a nine-month rehabilitation on both facilities. The oil corporation announced this in a statement released by its General Manager, Public Affairs Division, Mr Ohi Alegbe yesterday. The statement in part […]
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