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Economic hardship imminent as price of crude oil falls to $28.40

Brent crude on Wednesday reduced to $28.40, the lowest since early 2016. It was gathered that the price was down by eight per cent or...

Fall in Oil Price: FG cuts N1.5trn from 2020 budget

The Federal Executive Council (FEC) on Wednesday approved a N1.5 trillion cut from this year’s budget. This wss revealed by Finance, Budget and National Planning...

Malabu Oil Deal: Adoke, six others arriagned, plead not guilty

The former Attorney-General of the Federation, Mohammed Adoke, and six other suspects charged with 42 counts in connection with 1.09 billion dollars settlement agreement...

Nigeria’s greatest asset is people, not oil, says ex-Finance Minister

Dr Mansur Muhtar, Vice- President, Islamic Development Bank (IDB) and Former Minister of Finance, says the greatest potential Nigeria needs to explore is its...

Larger portion of Nigeria’s oil, gas yet to be tapped- Total...

Mr Ahmadu Kida-Musa, Deputy Managing Director, Deep Water District of Total Exploration and Production Nig. Ltd., says there are still billions of barrels of...

NNPC says it discovers deposits of oil, gas in the North

The Nigerian National Petroleum Corporation (NNPC) says it has discovered hydrocarbon deposits in the Kolmani River II Well on the Upper Benue Trough, Gongola...

Oil pipeline vandalism stands at 115 per cent in July, NNPC...

The Nigerian National Petroleum Corporation (NNPC) has lamented on the increasing menace of oil pipeline vandalism, which hit a record high of 228 pulverized...

Theft: Gov Obaseki says Nigeria loses 22 million barrels of crude...

Edo Governor, Godwin Obaseki said the nation lost about 22 million barrels of its crude oil production to oil theft between January and June...

Reliance on oil dangerous to Nigerian economy, Moghalu laments

Prof. Kingsley Moghalu, a presidential candidate for the Young Progressives Party (YPP) in the 2019 presidential election, has decried the nation’s reliance on oil...

Sylva pledges to transform Oil and Gas industry

The newly inaugurated Minister of State, Petroleum, Mr Timipre Silva, has pledged his readiness to work with all to ensure a viable oil and...