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Oil price hovers at $57, as Saudi Arabia cuts output by 500,000 bpd

THE price of crude oil, yesterday, hovered around $57.00, after hitting $58.00 on Saturday in the international market, as Saudi Arabia cuts output by 500,000 barrel per day, bpd.

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FG urges Buhari to prioritise renewable energy sources

Federal Government has tasked the in-coming government to adequate attention to the development of renewable egivenergy sources, which it identified as very critical to the nationABUJA:’s survival, as there are no threats of vandalism as currently being experienced with the gas pipelines. Minister of Power, Prof. Chinedu Nebo, gave the advice while speaking during the signing of Memorandum of Understanding, MoU, between NOVARTUS Gas Limited and the Government, for the generation of power through renewable energy sources across Nigeria.

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What Buhari must do in oil industry — Experts

As the nation waits anxiously for the May 29, swearing in of Muhammadu Buhari, as Nigeria’s next president, experts in the oil industry have set for him an agenda aimed at restructuring the sector, which is the mainstay of Nigeria’s economy. The Managing Director, Frontier Oil Limited, Mr. Dada Thomas, a marginal field operator, believes that the oil and gas sector in Nigeria has suffered a major decline in the last 10 years.

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