Crude Oil

Japan Turns To Nigeria For Oil Japanese refiners are turning to Nigerian crude as supplies from the Middle East shrink due to the Iran war. The move comes as the country faces pressure to secure energy and keep its refineries…
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Fuel Prices Stay High Despite Oil Drop Across Nigeria, petrol prices have remained above N1,300 per litre even as global crude oil prices fell from $130 to $100 per barrel. The situation has left many consumers struggling, with…
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The Oyo State Government has clarified that diesel, not crude oil, was discovered in a polluted well in the Yemetu area of Ibadan North. Commissioner for Information, Prince Dotun Oyelade, in a statement on Thursday, said a government…
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A whistle blower, who exposed the theft of 48 million barrels of Bonny Light Crude Oil from Nigeria and the sale of the crude oil by the Nigerian National Petroleum Corporation (NNPC) is now threatening court action against the Federal…
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Oil prices surged more than two percent in Asia on Wednesday after Donald Trump pulled the United States out of the Iran nuclear deal, fuelling fresh geopolitical uncertainty.
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Oil prices jumped on Friday, with Brent crude futures hitting their highest in more than two weeks as U.S. stock prices rose.
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The Senate on Tuesday mandated its Committee on Public Accounts to investigate the rationale behind a security account allegedly operated by the Nigerian National Petroleum Corporation (NNPC) and Nigerian Agip Oil Company.
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The account of the Nigerian National Petroleum Corporation (NNPC) is increasingly over-burdened as the landing cost of Premium Motor Spirit (PMS), otherwise called petrol, has risen following the recent surge in global oil price, analysts…
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Oil price rose further above $68 a barrel on Thursday to the highest since May 2015, supported by unrest in Iran that raised concerns about supply risks, cold weather in the United States (U.S.), boosting demand and OPEC-led output cuts.
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The Minister of State For Petroleum Resources, Dr Ibe Kachikwu, on Thursday said the Nigerian National Petroleum Corporation, NNPC has incurred a cumulative loss of N85.5 billion in importing petrol and selling at the current retail price…
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