Fresh concerns over budget 2025 as oil price drops to $59 per barrel
THERE were increased concerns over the implementation of Nigeria’s 2025 budget, weekend, as oil price dropped further to $59 per barrel from more than $70 per barrel, the lowest this year.
Oil prices fall on demand concerns
Oil prices edged lower on Monday as climbing Coronavirus cases and tighter restrictions in Europe and China fueled worries over a slower recovery in fuel demand. Encouraging gross domestic product (GDP) and industrial production data from China helped to limit the downside to some extent. READ ALSONIS issues 23,867 Immigration facilities in Edo Brent crude […]
FG unveils strategies to survive pandemic, future oil price crash
…Nigeria petroleum industry lacks capacity to change, adapt – NAEE …How we are navigating pandemic challenges – PTDF By Michael Eboh Minister of State for Petroleum Resources, Chief Timipre Sylva, Thursday, disclosed that the Federal Government has adopted key strategies to help strengthen the Nigeria petroleum industry after the COVID-19 pandemic and also insulate the […]
Oil price: How we plan to drive cost effectiveness in oil sector – DPR
By Michael Eboh The Department of Petroleum Resources, DPR, Tuesday, disclosed that as part of key strategies to ensure cost effectiveness and drive down cost of crude oil production per barrel in the Nigerian oil and gas industry, it is already entrenching best practices in the industry in line with global standards. In a statement […]
Oil extends losses as stockpile rise amid weakening demand
Oil prices fell for a second day on Friday, pressured by a surprise rise in U.S. stockpiles as the coronavirus pandemic continues to erode demand for fuels. Brent crude was down 18 cents, or 0.5 per cent at $39.88 a barrel by 0337 GMT, after falling nearly two per cent on Thursday. U.S. crude dropped […]
Oil drops more than $1 after Saudi price cuts, demand optimism fades
Oil prices dropped more than $1 a barrel on Monday, hitting their lowest since July. The drop is coming after Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months as optimism about demand recovery cooled amid the coronavirus pandemic. Brent crude was at $41.75 a barrel, down 91 cents […]
