Oil major BP has clashed with rival Vitol in the Nigerian crude market, buying up cargoes and taking a big derivative position that may have raised costs for European refiners, according to Reuter

Nigeria  lost N1.6 trillion in 2016 and N995 billion in 2017 to crude oil theft, translating to a loss of about $8.9 million daily and a combined loss of N2.6 trillion over the two-year period,    according to a draft report presented yesterday, by the Nigeria Natural Resource Charter, NNRC.

William Shakespeare, the all-time great English playwright and poet used the idealization of comedy to portray our world. A servant would dream of having greatness thrust upon him without imbibing the enterprise culture. In Illyria the plot set in the Twelfth Night would continue to play out in Nigeria.

Three countries, India, The Netherlands, and the United States of America, USA emerged the highest importers of Nigerian crude oil grades, spending N1.71 trillion in the first quarter of 2018, Q1’18

 Some experts in the oil and gas industry on Wednesday said there was no cause for alarm over the increase in the crude oil benchmark from 45 dollars per barrel to 50.5 dollars per barrel.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Monday said that the Dangote Refinery, Petrochemical and Fertilizer projects would solve the country’s crude oil refining and exporting challenges, when completed.

Shell Nigeria Exploration and Production Company, SNEPCo, has produced a total of 763 million barrels of oil from the Bonga field in the past 12 years.

Managing Director/Chief Executive Officer, Seplat  Petroleum Development Company Plc, Mr. Austin Ojunekwu Avuru, in this interview with Peter Egwuatu in his office shortly after the company was elevated to the Premium Board segment of the Nigerian Stock Exchange, NSE, in Lagos, spoke on challenges in the oil and gas sector, sales of oil in international market, performance of the company, corporate governance, sustainability report, capital market activities, among others.

Oil prices rose Thursday to their highest since late 2014 as U.S. crude inventories declined, moving closer to five-year averages, with reports that, top exporter, Saudi Arabia is seeking to push oil prices higher.

As the nation’s business environment continues to show encouraging signs of improvement through resurgence in consumer confidence, moderating inflation, amongst others, KPMG Nigeria has indicated that Foreign Exchange (Forex) and crude oil volatility top the list of 10 risks for Nigerian businesses this year.