Crude prices tested intraday lows in midmorning US trading Tuesday as the market digested further details of US sanctions waivers on major buyers of Iranian crude. At 1552 GMT, ICE January Brent was down 98 cents at $72.19/b and NYMEX December WTI was down 84 cents at $62.26/b. Crude price declines had slowed earlier in […]
The Nigerian Mona Lisa, a painting lost for more than 40 years and found in a London flat in February, is being exhibited in Nigeria for the first time since it disappeared. “Tutu”, an art work by Nigeria’s best-known modern artist, Ben Enwonwu, was painted in 1974. It appeared at an art show in Lagos […]
Golar LNG said on Monday it was in talks with Nigerian authorities about setting up a power project that could use one of its vessels to import liquefied natural gas (LNG). The company wants to expand beyond its core LNG shipping and terminals business and owns half of the $1.7 billion Sergipe power plant project […]
Alumni members of the University of Nigeria, Nsukka would on Saturday 10th of November storm the National Stadium – Lagos in what they have termed the “Dignity of Man Walk.” The Road Walk which has been scheduled to kickoff from the National Stadium by 7am through Adeniran Ogunsanya, Iponri axis, Costain and back to the […]
The Chairman of the Lagos State Branch of the Nigeria Union of Road Transport Workers (NURTW), Alhaji Tajudeen Agbede, announced on Monday that the union would join the planned NLC strike if government and labour failed to resolve their differences. “We are an affiliate of the NLC, we shall obey its directives. So we have […]
Crude oil futures edged down during morning trade in Europe Monday as supply concerns eased on the news that the US would temporarily exempt eight nations from its renewal of sanctions on Iran as well as on increased oil supply from OPEC, Russia and the US in response to the sanctions. At 1210 GMT, ICE […]
Oil prices recovered some ground on Monday after five days of heavy losses as the United States imposed a range of punitive sanctions on Iran, aiming to curb exports by the Islamic Republic, including its sales of fuel. The move is part of a wider effort by U.S. President Donald Trump to curb Iran’s missile […]
Senate President, Dr. Abubakar Bukola Saraki, has said that the Senate on resumption of plenary will further probe the claims by the NNPC), on diversion of dividends from the Nigerian Liquefied Natural Gas (NLNG). In a statement issued by Yusuph Olaniyonu, Special Adviser (Media and Publicity) to the President of the Senate, Saraki said that […]
Crude oil future prices were slightly lower Friday as they awaited direction following a sell-off in the previous session, continuing volatility that provides opportunities for speculators. As of 9.30 a.m. EST, front-month WTI futures were $63.26 per barrel, or 0.6 percent lower. Front-month Brent crude futures were $72.60 per barrel, or 0.4 percent lower. The […]
Despite workers’ insistence on proceeding on a nationwide strike, there will not be scarcity of petroleum products, the state oil firm, NNPC, has said. The NNPC on Sunday dispelled speculations of an impending petroleum products scarcity in the country. The corporation’s spokesperson, Ndu Ughamadu, assured it has a stock of petroleum products to sustain a […]