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$7bn petrol subsidy diverted under Buhari — Reps allege, set up...

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 ABUJA - The House of Representatives has set up an ad-hoc committee to investigate the petroleum products subsidy regime under President Muhammadu Buhari. The lawmakers...

At Last, Oil Price Hits $100 Per Barrel On Ukraine Crisis

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It has been reported that, at last, the price of crude oil (Brent) has hit the roof at $100 per barrel in the international...

Oil Price Hits $85 A Barrel For The First Time In...

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Brent oil just topped $85 a barrel for the first time since October 2018 which is a major gain for the Nigerian oil export...

Oil price drops to $72.39 as OPEC increases production

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Brent, the crude against which Nigeria’s oil is priced, dropped in price on Monday morning following the agreement reached by members and allies of...

Diesel price surges to N290/litre as crude rises to $74.27

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The price of a litre of Automotive Gas Oil, also known as diesel, has maintained an upward trend as it rose to a record...

Diesel Price Increased To N265 Per Litre

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The price of Automotive Gas Oil also known as diesel has been increased by fuel marketers to N265 per litre. The price of diesel first...

Oil price hits $67 on steady production by OPEC+

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Brent crude oil prices rose to $67 buoyed by speculation that the Organisation of the Petroleum Exporting Countries (OPEC) and their Russia-led allies, collectively...

Ahmed Zaki Yamani, Who Helped Lead 1973 Oil Embargo, Dies

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Sheikh Ahmed Zaki Yamani, the former Saudi Arabian energy minister who helped direct the 1973 oil embargo and was later kidnapped by Carlos the...

Marketers raise petrol price to N170, depots suffer shortage

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Fuel marketers have started adjusting their petrol pump prices amid the supply shortage facing private depots in Apapa. Our correspondent observed that some filling stations...

Crude Oil Price Hits 13-month High At $63

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Oil prices yesterday maintained their upswing, hitting their highest in about 13 months on the back of vaccine rollouts expected to increase demand even...

Oil Price Rises Above $57, Highest In 12 Months

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The international oil benchmark, Brent crude, rose more than two per cent on Tuesday, hitting a 12-month high after major crude producers showed they...

Nigeria’s Nine-month Oil Export Earnings Drop By $1.24bn

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The total revenue generated by Nigeria from crude oil and gas exports from January to September 2020 tumbled by $1.24bn, compared to the same...

Nigeria’s daily oil production sinks to 1.17 million barrels

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Crude oil production in Nigeria tumbled by 155,000 barrels to a record low in December amid the production cuts by the Organisation of the...

Oil Woes, As Bonny Light Drops By 34.8% In 11 Months

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The average price of Bonny Light, Nigeria’s premium oil grade, has dropped by 34.8 percent to $42.9 per barrel in the past 11 months...

Appalachian Coal Country: A Diary of the Peripatetic, By Osmund Agbo

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The day started off slow which was not quite unusual for the work flow after a major American holiday. Since Thanksgiving was celebrated on...

Oil Sector’ll Face Prolonged Reduced Demand – Fed Govt

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The oil and gas sector is going to face a substantially reduced demand for a prolonged period as its recovery is not likely any...

Oil Marketers Refuse To Obey N5 Reduction In Petrol Price

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Oil marketers, on Monday, failed to adjust the pump prices of Premium Motor Spirit (petrol) at their filling stations to reflect the N5 reduction...

OPEC, Russia Deal Raises Hope For Crude Oil

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A fresh hope for oil producing countries such as Nigeria, and Algeria was raised at the weekend as oil prices hit the highest level...

Buhari seeks Senate approval for Finance Bill 2020

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By Chibuike Nwabuko Abuja (Sundiata Post) - The Senate on Tuesday received a transmission of the Finance bill 2020 from President Muhammadu Buhari, for...

Nigeria Needs $3trn To Bridge Infrastructure Gap – Report

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Global credit rating agency, Moody’s Investors Service, has stated that the infrastructure in Nigeria is behind other emerging market peers, with about $3tn needed...