The Nigeria Centre for Disease Control (NCDC), in a tweet on Monday night confirmed 38 new COVID-19 cases. The cases were recorded in five states, bringing Nigeria’s total to 665. According to the breakdown, 23 were recorded in Kano, five in Gombe, three in Kaduna, two in Borno, two in Abia, and one each in the federal capital territory, Sokoto and Ekiti. […]
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As oil prices sank about 14 percent last week alone and the Brent hit a twelve-month low on the back of the coronavirus outbreak, the Organization of Petroleum Exporting Countries (OPEC) is meeting in Vienna this week to help stabilize the market. Executive Chairman of the African Energy Chamber (https://EnergyChamber.org/) Nj Ayuk was on Deutsche […]
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Brent crude oil prices hit their highest level since November 2014 on Monday ahead of U.S. sanctions against Iran that kick in next month. Brent sweet crude oil futures rose to as much as 83.27 dollars a barrel. U.S. West Texas Intermediate (WTI) crude futures were at 73.57 dollars a barrel. Brent was pushed up […]
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Oil rose on Tuesday, supported by gains in equities and supply concerns in Norway and Libya,. Brent crude futures hit a session high of 79.51 dollars Oil reports correlation expert says Brent races to 100 dollars, in spite of despicable manipulations. United States crude futures rose to settle at high of 74.70 dollars. All three […]
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U.S. President Donald Trump, who recently called on OPEC producers to help reduce oil prices, has raised prices through his tweets, Iranian OPEC Governor Hossein Ardebili was quoted as saying by news agency SHANA on Thursday. “Your tweets have increased the prices by at least $10. Please stop this method,” the oil ministry news agency […]
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Brent crude oil rose above 80 dollars a barrel on Tuesday, supported by concern that falling Venezuelan crude output and a potential drop in Iranian exports could further tighten global supply. Brent crude futures rose to $80.41 a barrel, by 11:12 a.m. EDT (1512 GMT). U.S. West Texas Intermediate (WTI) crude rose 59 cents to […]
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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 […]
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Oil markets climbed on Monday on the back of a drop in the number of United States rigs drilling for more production and as the U.S. economy continued to create jobs, which industry hopes will drive higher fuel demand. Brent sweet crude was at 65.70 dollars per barrel, up 21 cents, or 0.3 per cent, […]
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Income accruing to the country from rising oil prices in the international market will be spent on infrastructural development, President Muhammadu Buhari has pledged. Receiving a delegation from Eni, led by the Chief Upstream Officer, Mr Antonio Vella, the President said extra funds outside the provision of year 2018 budget “will be deployed to infrastructure […]
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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 […]
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