A Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc
By Babajide Komolafe In spite of the rising trend in the price of crude oil, the nation’s external reserves have fallen by $1.86 billion in seven weeks to $34.66 billion. The price of crude oil, which accounts for 90 per cent of the nation’s dollar earnings, has been on the upward trend since November
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SAUDI DRONE ATTACK: Oil price fluctuates, as Nigeria’s petrol price stabilises
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By Udeme Akpan For the first time in 2021, the price of oil has risen to $71.28 per barrel in the international market, barely a few days after the Organisation of Petroleum Exporting Countries, OPEC, and non-OPEC members had resisted pressure to increase output. Prior to the crucial 14th Meeting of OPEC and non-OPEC ministers,
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By Obas Esiedesa The Minister of State, Petroleum Resources, Chief Timipre Sylva has admonished Nigerians to be ready to bear the pains of increased petrol pump price as crude oil price climbs above $60 per barrel. Speaking at official launch of Nigerian Upstream Cost Optimisation Program on Tuesday, Sylva said with no provision of subsidy
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By Udeme Akpan The price oil has risen to $60 per barrel in the international market as Iraq and Kazakhstan commit to the Organisation of Petroleum Exporting Countries, OPEC oil cut deal. For instance, the price of Brent, usually used to benchmark other oil prices rose from $59 to the current price on February 8,
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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
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…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
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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
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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
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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
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