With local private involvement in the oil and gas sector of the national economy on the rise, Global Process and Pipeline Services (GPPS) Limited, wholly Nigerian Management owned company, is set to unveil its new infrastructure base in Port Harcourt as it broadens its reputation as a frontline oil services company, showcasing Nigerian indigenous capability […]
At 1115 GMT, January ICE Brent futures were up 49 cents at $67.25/b, while the NYMEX December light sweet crude contract was up $1.45/b at $57.14/b. This gain comes after the market lost around $3-4/b for both Brent and WTI on the week. “It appears that the market takes a production cut for granted… It […]
The Nigerian Shippers Council, the nation’s economic regulator for the ports has made a strong case for the simplification of non-oil export trade procedures and export promotion activities as part of efforts to boost the nation’s non-oil exports in line with Federal Government’s efforts at diversifying the economy from the current mono product export regime. […]
Nigeria’s main opposition candidate Atiku Abubakar said on Monday he will boost oil sector investment, cut costly fuel subsidies and double the size of the economy by 2025 if he wins next year’s presidential election. The businessman and former vice president portrayed himself as a champion of the private sector as he released his manifesto […]
Oil marketers on Sunday appealed to Federal Government to effect quick payment of its outstanding N800 billion subsidy debts. The marketers, under the aegis of Major Oil Marketers Association of Nigeria (MOMAN) and Depot and Petroleum Products Marketers Association (DAPPMA), made the appeal in a joint interactive session with journalists in Lagos. They urged government […]
American president of the World Bank, Jim Yong Kim stands unopposed for a second term, with an invaluable endorsement by the US Treasury Department. In keeping with an unbroken tradition, the US nominee will again fill the presidency at the World Bank, while the International Monetary Fund remains in European hands as Christine Lagarde, also […]
The Kaduna Refinery and Petrochemical Company did not refine any crude oil from February to August this year, losing a total of N18.67bn, the Nigerian National Petroleum Corporation has said. The refinery lost N3.81bn in February, N2.63bn in March, N4.22bn in May, N2.98bn in June, N2.35bn in July, and N2.68bn in August, but made a […]
Nigeria secured a place at the 2019 African Nations Cup finals with a deserved 1-1 draw with hosts South Africa in their Group E qualifier at Soccer City on Saturday. Buhle Mkhwanazi put the ball into his own net to give Nigeria the lead after nine minutes, but South Africa equalised through their Strasbourg forward […]