$30/barrel crude oil production cost, no longer acceptable — FG
The Federal Government, Tuesday, insisted that the high cost of crude oil production in Nigeria would no longer be tolerated, while it called for an urgent reduction in the cost from the current $30 per barrel to around $10 per barrel.
Oil races toward $85 as Iran sanctions loom
Singapore—Brent crude oil prices hit their highest level since November 2014, yesterday, ahead of US sanctions against Iran that kick in next month.
Nigeria exports N7.3trn crude oil in six months
Nigeria’s crude oil export appreciated by 17.38 per cent to N7.308 trillion in the first six months of 2018 from N6.226 trillion recorded in the last six months of 2017, according to data obtained from the National Bureau of Statistics (NBS).
BP, Vitol clash over Nigerian crude oil
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 loses N2.6trn to crude oil theft in 2 years – NNRC
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.
The lure of crude oil versus value addition
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.
