U.S. oil prices rose above $70 a barrel on Monday for the first time since November 2014 and Brent crude climbed to fresh highs, buoyed as a deepening economic crisis in Venezuela threatened the country’s already tumbling oil supply. Brent crude oil futures were at $75.59 per barrel at 0546 GMT, up 72 cents, or […]
Author: Isaac Umunna
Nigerian National Petroleum Corporation seals $26.9b upstream deals
The Nigerian National PetroleumCorporation (NNPC) has struck $26.9billion deals in the upstream segment, showing investors ‘renewed confidence in the oil industry, its Group Managing Director, Dr. Maikanti Baru, has said, The Nation reports Baru spoke as special guest of honour at the Nigeria Oil Industry Award Dinner and Cocktail gala night organised by the Petroleum […]
Hedge Funds Curb Bets on Oil Rally Just Before Price Nears $70
Money managers curbed their enthusiasm for oil just before the U.S. benchmark price surged to almost $70 a barrel. Total wagers on West Texas Intermediate crude slid to the lowest since early January, with bets that it will rise shrinking for a second week. That was days before Iran accused President Donald Trump of “bullying,” […]
Nigeria Handball Federation to raise national team players from league
In a bid to return handball to winning ways, the President, Handball Federation of Nigeria (HFN), Samuel Ocheho, on Sunday in Abuja announced the disbandment of the senior male national team. Ocheho made the announcement at the end of the first phase of the Prudent Energy Handball League played at the Abuja National Stadium. He […]
Toyota Corolla scoops ‘Best Small Sedan’ award
Adding a new feather in its cap, the 2018 Toyota Corolla was recently honoured with the recognition for the best car in the ‘Small Sedan’ category at the 2018 Middle East Car of the Year (Mecoty) awards. The “most successful production car model ever built” was chosen by a judging panel comprising 16 independent senior […]
Oil market braced as Trump threatens Iran deal exit
The oil market is bracing for the impact of new US sanctions on major producer Iran as Donald Trump looks set to scrap the “terrible” nuclear deal signed with the country in 2015. The US President has until May 12 to decide whether to ditch the landmark deal which reined in Iran’s nuclear programme in […]
Buffett owns 5 percent of Apple. He’d like to own more
Warren Buffett said he would be happy if his conglomerate Berkshire Hathaway Inc owned more than 5 percent of Apple Inc’s stock, including if the iPhone maker bought back more of its shares. Buffett made his assessment before tens of thousands of Berkshire shareholders attending the conglomerate’s annual meeting on Saturday in Omaha, Nebraska. It […]
Avengers: Infinity War Already on Pace to Make $1 Billion
Walt Disney Co.’s said “Avengers: Infinity War” will surpass $1 billion at the box office on Saturday, 11 days after its release and faster than any movie in history. The first of a two-part installment from the Marvel Entertainment franchise, featuring actors including Robert Downey Jr. and Scarlett Johansson portraying superheroes from the Marvel comic […]
Kenyatta wins African award for infrastructure
Kenya’s President Uhuru Kenyatta has been declared the winner of this year’s Babacar Ndiaye’s African award on transport and road infrastructure. In a ceremony in Dakar, Senegal on Friday the Africa Road Builders said Kenyatta won the 2018 award for Jubilee’s projects in railway, road, air as well as a nationwide street lighting. Kenyatta will […]
The surging dollar could push oil prices off a cliff as soon as next year
Oil prices have rallied to multi-year highs as supply concerns mount. But some experts think that prices could drop as soon as 2019. Watch oil trade in real time here. A swirl of tariffs, sanctions, and geopolitical tensions in the Middle East has pushed oil to a three-year high. But as the dollar embarks on […]