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Oil & Gas
Diesel rises 184%, defies global oil price swings
The market price of diesel in Nigeria has surged 184 percent from January to December 2022 despite the fall in global crude oil prices towards the end of last year, with Brent crude…
Fuel scarcity mocks Buhari, APC’s claim on subsidy being scam
On January 18, 2015, Nigeria's Minister of Petroleum Resources, Diezani Alison-Madueke announced a fuel price reduction that took the retail cost from ₦97 to ₦87 and explained that the price…
Oil marketers blame fuel scarcity on dollar scarcity, distribution hiccups
The Major Oil Marketers Association of Nigeria (MOMAN) has said the petrol scarcity Nigerians are facing at filling stations across the country is due to dollar shortages and distribution…
Trial starts in $11 Billion lawsuit threatening Nigeria’s economy
After years of stop-and-go litigation, Nigeria could be on the hook for a debilitating $11-billion payout if a trial starting this week in a London court doesn’t go its way according to…
Oil companies lose N803bn to sabotaged pipelines
Oil companies operating in Nigeria lost N803 billion worth of crude oil to spills suspected to emanate from sabotaged pipelines and operational issues in 2022, the highest in three years,…