Nigeria’s crude oil production lags budget benchmark by 277,000 bpd
Nigeria’s crude oil production stood at 2.022 million, bpd in March, 277,000 bpd below the 2.3 million bpd benchmark for budget 2018, indicating, the country is still struggling to step up production to meet the budget benchmark.
Economic sabotage: How Nigeria lost 1.492bn barrels of crude oil in four years
It has been a swath of revelations, since the House of Representatives’ adhoc committee on the alleged $17billion undeclared crude oil and gas revenue started the second phase of its investigative hearing to unravel how Nigeria’s crude oil was stolen along with revenues that were supposed to have accrued therefrom, between 2011 and 2014 – how the funds can be tracked and possibly returned.
Nigeria’s crude oil belongs to the North ?
In 2014 Usman Bugaje, raised a controversial issue on the ownership of Nigeria’s crude oil domiciled majorly in the Niger Delta region during the Northern Leaders’ Conference he said “What they claim is the off shore oil is actually the oil of the North”
Crude oil price drops, threatens Naira, 2017 budget
Nigeria’s excess crude oil revenue has dropped by five per cent as oil prices fell to $49.26 per barrel yesterday, posing fresh threat to implementation of the yet unsigned 2017 budget and the exchange rate of the naira.
Indonesia to buy more crude oil from Nigeria
The Nigerian National Petroleum Corporation (NNPC) said Indonesia has indicated its interest in increasing its purchase of crude oil from Nigeria.
S/Court fixes Nov. 14 to hear crude oil revenue sharing formula suit
The Supreme Court on Thursday fixed Nov. 14 to hear a suit on alleged outdated oil revenue sharing formula instituted against the Federal Government.
Oil prices drop as US pumps more
CRUDE oil fell slightly yesterday on signs that the United States is continuing to add output largely counteracting the Organisation of Petroleum Exporting Countries, OPEC, efforts to cut production.
Crude oil deposits found in Bida basin in Niger State
Professor Nuhu Obaje, the director of the Ibrahim Badamasi Babaginda University Research Centre, Lapai, made this known on Thursday in Lagos.
Nigeria earns N7trn from crude oil exports
Nigeria recorded slight improvement in crude oil revenue in 2016, as total export appreciated by 0.75 per cent to N6.997 trillion at the end of 2016, according to data obtained from the National Bureau of Statistics, NBS.
APC hails Nigeria-Niger crude oil pipeline, refining plan
The National Chairman of the All Progressives Congress, APC, Chief John Odigie-Oyegun, yesterday, welcomed ongoing bilateral discussions between Nigeria and the Republic of Niger which will result in piping crude oil from the Republic of Niger for refining at the Kaduna Refining and Petrochemical Company, KRPC.
Oil prices rise above $58, bridge budget deficit
The new year looks promising for Nigeria and other oil producing countries as oil prices hit 18-month high yesterday, the first trading day of 2017, buoyed by hopes that a deal between the Organisation of Petroleum Exporting Countries, OPEC, and non-OPEC members to cut production, which kicked in on Sunday, January 1, 2017, will drain a global supply glut.
