Trade Union Congress of Nigeria Demands N180/litre Fuel.
The Federal Government has been urged by the Trade Union Congress of Nigeria to make gasoline available at the 180/litre…
Category: Commodities
Nigeria: Household Food Import Increases by 71%.
Despite the nation’s current foreign exchange crisis, food and beverage imports for households increased by 71.12% between the third quarter…
Oil Expected To Post A Second Annual Gain To End Turbulent 2022.
Due to the conflict in the Ukraine, limited supply, a high dollar, and weaker demand from China, oil had a…
Somalia Denies Genel Energy’s ‘Illegal Claim’ to Oil Permits.
According to Somalia’s oil ministry, the country rejected Genel Energy’s (GENL. L) “illegal claim” to oil exploration and exploitation rights…
Fuel: Three more Cities will Receive Mass Supplies in January After Lagos.
Mass supplies of Premium Motor Spirit, often known as gasoline, will start to be distributed in Lagos, Calabar, Port Harcourt,…
Shell will Pay 15 million Euros to Resolve the Nigerian Oil Disasters.
Shell (SHEL.L) will pay 15 million euros ($15. 9 million) to communities in Nigeria that were affected by multiple oil…
Russian Gold was Taken Out of Several Western Funds.
Russian gold worth billions of dollars have secretly changed hands in high-security bank vaults in London, Zurich, and New York…
Nigeria: Bayelsa Receives N90 billion in Oil Revenue from Surplus Crude Accounts.
The Bayelsa State Government confirmed that as of October 2022, it will receive N90 billion from the Federal Government’s Excess Crude…
Nigeria Receives 20 Stolen Benin Bronzes from Germany.
According to German Foreign Minister Annalena Baerbock, Germany has returned 20 Benin Bronzes from its museums to Nigeria, making it…
According to the Nigerian FG, Oil Companies will resume Full Production.
Due to widespread pipeline vandalism and criminal oil theft in the Niger Delta region, major crude oil producers in Nigeria…
Nigeria Misses OPEC Quota As Oil Production Shortfall Hits 6.9m Bpd In 11 Months.
Between January and November 2022, Nigeria’s production of crude oil fell by 6.9 million barrels per day (bpd). This is…
Oil Rises as Expectations of Increased Demand from China Counter Recessionary Worries.
Oil prices increased after dropping by more than $2 a barrel in the previous session as hopes for the Chinese…
Gold Surpasses $1,800 Due to a BOJ Policy Change.
Gold prices increased 1% to over $1,800 as the dollar fell following the Bank of Japan’s unexpected policy change and…
Oil Increases on Anticipation for China’s Economy.
Oil prices increased as hopes that China would relax its Covid-19 restrictions outweighed worries that a global recession would reduce…
Oil Revenue Increases by N308.6 billion.
Due to coordinated efforts by the Nigerian National Petroleum Company Limited and security agencies to stop oil theft, Nigeria’s crude…
Shell is Commended for Its Local Content Initiative.
The Petroleum Technology Association of Nigeria recently conducted its 2022 annual industry dinner and awards ceremony in Port Harcourt, Rivers…
NNPC Scrambles to End Nigeria Fuel Queues.
According to oil marketers, despite a 17 kobo reduction in the ex-depot price of Premium Motor Spirit, also known as…
OPEC Forecasts Robust Global Oil Demand Growth in 2023.
OPEC said that it expected robust global oil demand growth in 2023, with potential economic upside from a relaxation of…
MRS SubsidIary’s $300m Purchase Of Chevron Oil Block From NNPC Allows For The Supply Of 8,000 Crude Oil Barrels Per Day In Five Years.
Nigerian National Petroleum Company Limited (NNPCL) will supply 8,000 barrels of crude per day for four to five years using…
Exxon Completes the $407 million Sale of its Operations in Chad and Cameroon.
Exxon Mobil Corp. (XOM. N) completed the sale of its operations in Central Africa’s Chad and Cameroon to London-listed company…
Emefiele: Banks and CBN to Support Over N500 Billion in Nigerian Exports.
In an effort to increase non-oil export revenues, the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, stated that…
Prior to Russia Sanctions, OPEC+ Maintains Oil Production Cuts.
23 oil-producing countries that make up OPEC and non-OPEC producers have agreed to maintain their current policy of reducing oil…
In May 2023, Nigeria Expects to Produce 1.8 million Barrels.
The Federal Government, said it would continue to work hard to meet its Organisation of Petroleum Exporting Countries crude oil…
NNPCL Signs MoU with Companies in Ghana and Gambia.
The Nigerian National Petroleum Company Limited has signed five memorandums of understanding regarding the Nigeria-Morocco Gas Pipeline Project with the…
OPEC Oil Output Declines in November Following Declared Cuts.
According to the survey, OPEC produced 29. 01 million barrels per day (bpd) in November, which is 710,000 bpd less…
Nigeria Hopes to Stop Importing Petroleum Products in 2023.
According to Timipre Sylva, Nigeria’s oil minister, the country expects to stop importing petroleum products before or around the third…
Depots Sell N220/litre, Marketers Project N350/litre Pump Price.
Given the continued scarcity of the product, Premium Motor Spirit, also known as gasoline, could reach N400 per litre at…
The Declining Gold Boom in Burkina Faso Threatens People’s Means of Survival
A gold mining boom in Burkina Faso over the last decade propelled Boukary Diallo from being a vendor on a…
Nigeria Petroleum Marketers: The NNPC Petrol Price Without Subsidy Is N400/Litre.
It has been learned that, assuming there is no subsidy, N400/litre is the lowest price at which the Nigerian National…
FX Crisis: Ghana to use Gold instead of US Dollars to Buy Oil.
Vice-President Mahamudu Bawumia said that Ghana’s government is developing a new strategy to purchase oil goods using gold rather than…