Late on Monday, the nation released the prices for most of its crude oil grades for sale in May. The figures reflect an urgent need to offload cargoes in what is a highly competitive marketplace….
BANGKOK (AP) — Asian shares skidded on Tuesday after U.S. oil futures plunged below zero as storage for crude runs close to full amid a worldwide glut as demand collapses due to the pandemic. Shares…
LAGOS, NIGERIA — A Nigerian militant group whose attacks on energy facilities in the Niger Delta last year helped push Africa’s biggest economy into recession said Friday that it had ended its cease-fire. The Niger…
BAUCHI, Nigeria (Reuters) – Suspected Boko Haram insurgents have kidnapped 10 members of a geological research team from the University of Maiduguri in northeast Nigeria, the state oil company, which contracted the work, said on…
ST PETERSBURG, Russia (Reuters) – OPEC moved on Monday to cap Nigerian oil output and called on several members to boost compliance with production cuts to help clear excessive global stocks and support flagging prices….
Saudis said to meet with Iran for oil talks before the OPEC meeting in Algeria OPEC members Saudi Arabia and Iran, whose rivalry derailed an oil supply accord earlier this year, met in Vienna a…
Over-reliance on oil, greed and societal apathy, contributed to Nigeria’s current economic recession and diminished growth. Like a drug addict, Nigeria has relied on oil for 75% of government revenue and 95% of its export…
By Providence Obuh The General Manager, Western Ports, Nigerian Ports Authority, Chief Michael Ajayi, has said that continued naira devaluation is a key factor that would ensure Nigeria’s exit from Organisation of Oil. Ajayi stated…