Oil

Less than six months after a saga with telecoms giant, MTN, caused panic in the economy, Africa biggest oil producing country has ordered International Oil Companies (IOCs) to pay nearly $20…

There are palpable fears that fresh hostilities and attacks on the oil facilities in the Niger Delta region may resume with the tense atmosphere created by the upcoming elections. Already,…

In the clearest indication yet of how resilient the world’s biggest oil producers have become, a 40 percent decline in the value of oil prices in the fourth quarter of 2018 did little to…

Foreign investment flow into the Nigeria petroleum industry has dropped to a three low of $133 million in 2018 which is also a sharp decline of 59.82 percent compared to $331 million…

Oil is headed for its biggest weekly gain in a month as the OPEC+ coalition’s supply cuts and a reported output halt at the world’s biggest offshore field overshadowed renewed concern over…

As of 2011, Nigeria’s proven oil reserves stood at 37.2 billion barrels, putting the country as the biggest oil producer in Africa and 11th largest in the world. Rather than hit the 40…

President Muhammadu Buhari, in his capacity as Nigeria’s substantive Minister of Petroleum Resources, has approved the renewal of some expired and expiring oil blocks licenses, from which…

Oil majors are fine-tuning their growth strategies either for petrochemicals, gas or energy transition programmes, but Nigeria is not a high priority investment destination. According to…

Afrinvest, a Lagos-based investment banking firm says reviewing Nigeria’s dated petroleum sector laws, restoring joint venture production to previous profitable levels through improved…

The rising political tension in Nigeria in addition to other geopolitical tension across the world could be the catalyst for $100 per barrel of crude oil to arrive sooner than ever…