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energy
Oil prices pull back as US crude inventories rise
OIL prices pulled back Wednesday after crude lifting has seen a multi-year increase following stock build in the United States (U.S). Data shows that inventories of commercial crude!-->…
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Africa to add 1.2mb/d to production output by 2026 – OPEC
THE Organisation of the Petroleum Exporting Countries (OPEC) says Africa would reduce dependence on oil importation as it strives to meet the projected production output for 2026.
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Oil prices edge higher as US stockpiles hit 3-year low
CRUDE oil prices edged higher on Wednesday as the United States (U.S) crude stockpiles fall to lowest in 3 years, gasoline builds, according to Energy Information Administration (EIA).!-->…
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Nigerians purchased PMS worth N2.33tn in 13 months – NNPC
THE total revenue generated from the sale of petroleum products for the period of May 2020 to May 2021 stood at N2.35tn, the Nigerian National Petroleum Corporation said on Monday.
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Nigeria’s gas revenue from sales to Ghana, Togo, Benin hit $6.47m
THE revenue accruing to Nigeria from the sale of gas to three neighboring countries for electricity generation increased by 11.36 per cent to $6.47m last year from $5.81m in 2019.
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Oil prices decline as US dollar strengthened
CRUDE oil prices declined on Monday as the United States dollar strengthened, thus discouraged investors from more expensive, dollar-based oil trading.
The U.S. dollar, seen as a!-->!-->!-->…
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Brent crude price steadies at $75 as US inventories drop
By Adebowale Akanji
BRENT crude steadied at $75 a barrel on Thursday as the United States records a big drop in stock amidst expectation of global demand recovery. The oil market!-->!-->!-->…
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We contributed N67.5b to NDDC in 19 years – ExxonMobil
THE multinational oil company, based in Mkpanak in Ibeno Local Government Area of Akwa Ibom, ExxonMobil, has said that it contributed N67.5 billion to the Niger Delta Development!-->…
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Oil jumps as hurricane-induced disruption drags supply
By Olu Anisere
OIL jumped on Monday as hurricane-induced disruption keeps United States output low while Organisation of Petroleum Exporting Countries (OPEC) keeps forecast for the!-->!-->!-->…
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NNPC refineries pay workers N69b despite zero revenue generation in 2021
A TOTAL of N69.07b was paid to workers at the government-owned refineries last year, even as the plants generated zero revenue as they did not process a single barrel of crude oil.
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