OPEC OIL OUTPUT HITS FOUR-YEAR LOW IN APRIL ON IRAN, VENEZUELA

OPEC oil supply hit a four-year low in April, a Reuters survey found, due to further involuntary declines in sanctions-hit Iran and Venezuela and...

NIGERIA ISSUES ARREST WARRANTS FOR EX-MINISTERS OVER MALABU OIL DEAL

A Nigerian judge issued arrest warrants for two former ministers and an Eni manager over the sale of offshore oilfield OPL 245 by Malabu...

ENERGY: FUEL PRICE REMAINS STEADY AS KEROSENE, DIESEL PRICES SOAR

The Average price paid by consumers for premium motor spirit, PMS, popularly known as petrol, remains steady, as the price of kerosene, diesel others...

NIGERIA GREW FX RESERVES BY $20BN FROM OPEC’S EXEMPTION SAYS KACHIKWU

The Minister of State for Petroleum Resources, Ibe Kachikwu, Wednesday disclosed that the crude oil production exemption granted to Nigeria in 2016 by...

HERITAGE BANK BACKS GLOBAL MOVEMENT FOR AFFORDABLE SOLAR ELECTRICITY

Heritage Bank Plc has aligned forces with ‘Liter of Light Nigeria’, a global open source movement, to provide sustainable solar electricity for Itomaro community...

NNPC RECORDS N18.12B MONTHLY TRADE SURPLUS ON THE BACK OF IMPROVED OUTPUT

The Nigerian National Petroleum Corporation (NNPC) has announced a trade surplus of N18.12 billion for May, driven by increased oil production. The performance was...

OIL RACES TOWARD $85 AS IRAN SANCTIONS LOOM

Brent crude oil prices hit their highest level since November 2014 on Monday ahead of U.S. sanctions against Iran that kick in next month. Brent...

SCARCITY WORSENS AS REGULATORS EQUIVOCATE ON KEROSENE IMPORTATION

Industry regulators, the Department of Petroleum Resources (DPR), and Petroleum Products Pricing Regulatory Agency (PPPRA), have deliberately withheld importation data for kerosene, as scarcity...

BUHARI SEEKS CHINA’S SUPPORT ON MAMBILLA POWER PROJECT

President Muhammadu Buhari Wednesday in Beijing won the crucial support of the Chinese President, Xi Jinping, for the country's aspiration to build the 3050...

NNPC, PRIVATE INVESTORS TO SHARE REFINERIES

The Nigerian National Petroleum Corporation (NNPC) has partnered with private investors to set up processing plants in Port Harcourt and Warri in the oil-rich...