Tag
CRUDE OIL
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bashir Ojulari, has disclosed that Nigeria's pipelines and terminals’ receipt of crude oil is close to 100% due to improved security intervention.
Nigeria’s foreign reserves have risen to $41 billion, a milestone last recorded nearly four years ago, with analysts crediting the increase to improved pipeline security and a rebound in crude oil production.
In Episode 25 of Drinks & Mics, banking OG Chika Mbonu joins Ugodre, Tunji, and Arnold for a...
Nigeria's economy, which heavily relies on its oil industry, faces a looming crisis as many barrels scheduled for export in April and May 2025 remain unsold.
Global crude oil prices have surged past the $65 per barrel mark, marking a notable recovery for Brent and Nigerian oil blends from an early April dip.
Brent crude futures rose by 8 cents (0.1%) to $74.11 per barrel as of 0949 GMT, extending an eight-day winning streak — its longest since May 2022.
Nigeria’s foreign trade value in full year 2024 reached N138.03 trillion, a substantial increase of 106.56% compared to N66.83 trillion recorded in the same period of the previous year, according to the National Bureau of Statistics.
Global oil prices jumped up on Monday following the imposition of tariffs by U.S. President Donald Trump on Canada, Mexico, and China, as the move sparked concerns over potential disruptions in crude supply from the two U.S. neighbours who are its largest oil suppliers.
The naira dipped against the safe-haven currency at the official market amid rising oil prices in global markets.
Data mined from the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) show that Nigeria produced a total of 566.8 million barrels of crude oil and Condensate in 2024.
Global oil prices rose slightly on Thursday, the first day of trade in 2025.
Speaker of the House of Representatives, Mr. Tajudeen Abbas, has warned against over-reliance on crude oil by Nigeria, saying it will worsen inequality, poverty, and unemployment.