Tag
OIL
Oil Is Back after Donald Trump tactfully negotiated one of the most important diplomatic deals with Saudi and Russia
The Nigerian National Petroleum Corporation (NNPC) has disclosed that 45,347 incidents of pipeline explosion had occurred in the last 18 years.
Yesterday, OPEC released its monthly oil market report for December which showed that Nigeria’s oil production dipped to a new low.
Nigeria’s crude oil production fell to a record low of 1.57 million barrels per day last month, as the country complied with OPEC’s production cuts. #OPEC,#NNPC
Commercial banks in Nigeria are set to begin the recovery of N6.125 trillion borrowed to oil firms in a bid to braze themselves for recapitalisation.
Managing Director/CEO, Okomu Oil Palm Plc, Graham Hefer, said the closure of the borders has been a blessing to the palm oil industry, as he called for the exercise to continue. #OKOMUOIL,#BORDERCLOSURE
“The effect it has had on our local market share is that there have been some new companies requesting for Crude Palm Oil
Nigeria’s foreign trade rose to N9.18 trillion in the Q3f 2019, up from N8.60 trillion recorded in the previous quarter. That is, the nation's total foreign trade rose by 6.67% within the quarter, an increase of N582.3 billion.
Nigerian banks have improved non-performing loans (NPLs) post-recession. However, our study shows certain sector NPLs have deteriorated.
The Central Bank of Nigeria (CBN) has been promoting pro-growth strategies recently, while letting market interest rates fall to a shade over the inflation rate.
Last week, President Muhammadu Buhari directed the Central Bank of Nigeria (CBN) to halt the sale of foreign exchange for food importation.
Billionaire investor and businessman, @realFemiOtedola, has revealed plans to shift focus to power with a plan to invest $1bn into Geregu Power Plc, following the recent sale of Forte Oil Plc.
Nigeria's oil export has received a major boost as the U.S refineries upped their crude oil imports from Africa, doubling the volumes of oil import to the U.S in May 2019. The development came against the backdrop of U.S sanctions that restricted usual providers of widely used grades as the country gears up for the peak driving season