FG sets up committee on Naira crude oil sale
The Federal Government has inaugurated the Technical Sub-Committee tasked with developing the framework for the sale of crude oil to local refineries in Naira.
Crude oil leak rocks Bayelsa community
By Samuel Oyadongha, Yenogoa A crude oil leak from the 12-inch Benisede-Brass Creek Delivery Line has been reported in the riverine enclave of Peretuorugbene in Bayelsa State. The facility is owned by Shell Petroleum Development Company, SPDC. The incident was confirmed by the National Oil Spills Detection and Response Agency, NOSDRA, yesterday. NOSDRA, which concluded […]
Nigeria’s crude oil production dropped to 1.354mb/d in March ― OPEC
The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production declined to an average of 1.354 million barrels per day in March 2022. OPEC made this known in its Oil Market Report for April 2022 which was obtained by the News Agency of Nigeria ( NAN) on Tuesday in Lagos. The report […]
CRUDE OIL PRICES: Nigeria’s Bonny light, other OPEC grades drop
By Prince Okafor Despite significant rises in world’s leading crude oil grades in the international market yesterday, Nigeria’s crude oil grade, Bonny light, declined to $110 per barrel from $111.5 per barrel recorded last Friday. Crude oil prices at the international market witnessed average three per cent rise yesterday as the release of reserves by […]
$3.27bn crude lost to thieves in 14 months, FG cries out
The Federal Government yesterday raised alarm over the rising rate of crude oil theft in the Niger Delta, disclosing that about $3.27 billion worth of oil had been lost to vandalism and theft in the past 14 months.
$3.27bn lost to oil thieves in 14 months, FG cries out
By Obas Esiedesa, Abuja The Federal Government has raised an alarm over the rising rate of crude oil theft in the Niger Delta, disclosing that about $3.27 billion worth of oil has been lost to vandalism in the past 14 months. The government said high-level cases of oil theft have become a threat to the […]
FG mulls crude transportation by truck over high-level of theft
By Obas Esiedesa, Abuja The Federal Government has said high-level cases of oil theft have become a threat to the country’s corporate and economic existence, with the industry now thinking of transporting crude oil from fields to export terminals by trucks. This is as it raised an alarm over the rising rate of crude oil […]
Crude oil theft, vandalism: PENGASSAN, PANDEF, HOSTCOM tango over N’Deltans involvement
By Victor Ahiuma-Young, Samuel Oyadongha & Davies Iheamnachor The Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN; Pan Niger Delta Forum, PANDEF; and Host Communities Organisation, HOSTCOM, yesterday, disagreed over alleged involvement of Niger Delta stakeholders in crude oil theft and vandalism. President of PENGASSAN, Festus Osifo, who addressed newsmen in Lagos, said the […]
Oil Market: Nigeria’s Bonny Light rises further to $86.55pb
THE price of Bonny Light, Nigeria’s premium oil grade, has surged further to $86.55, from $83.88 recorded last Wednesday, due majorly to sustained efforts of the Organisation of Petroleum Exporting Countries, OPEC, to achieve stability in the global market.
Nigeria regains top crude oil production spot in Africa ― OPEC report
Nigeria has regained the top spot among crude oil-producing countries in Africa with the nation’s crude oil production averaging 1.27 million barrels per day in November. The Organisation of the Petroleum Exporting Countries (OPEC) made this known in its Oil Market Report for December which was obtained by the News Agency of Nigeria (NAN) on […]
Crude oil price to hit $90 per barrel in 3 months — Experts
By Prince Okafor As the prices of crude continue to leap, due mainly to shortages in the United States and recovery from the coronavirus pandemic, experts have predicted further rise to $90 per barrel, from $78 in the global market. An energy analyst with Goldman Sach Group, Damien Courvalin, said: “While we have long held […]
