Tag Archives: crude oil

US can still import Nigeria’s crude oil, says petroleum entrepreneur

All Progressives Congress(APC) presidential aspirant, SKC Ogbonnia, has said that he would cause the United States to resume importation of Nigerian crude oil if he wins the presidential office. Ogbonnia, himself a petroleum entrepreneur in a statement made available to Vanguard cited corruption for the United States decision to shut out Nigeria from the US crude oil market. While noting ...

Read More »

Reps start probe on $21bn crude oil loss

The ad-hoc committee recently set by the House of Representatives to probe the loss of crude oil worth over $21billion and huge debts being owed indigenous companies by International Oil Companies,IOCs commenced legislative business on the issues on Wednesday.

Read More »

Crude oil now sells for $70

The price of brent crude oil rose to 70 dollars a barrel, on Monday, supported by ongoing output cuts led by the Organisation of Petroleum Exporting Countries (OPEC) and Russia, and ignoring a rise in U.S. and Canadian drilling activity that points to higher future output in North America. Brent sweet crude futures, the international benchmark for oil prices, were ...

Read More »

Oil hits approximately $67 due to pipeline burst in Libya

Oil now sells for 67 dollars making this its highest selling price in two and a half years, due to an explosion on a crude oil pipeline in Libya and the voluntary supply cut, led by the Organisation of Petroleum Exporting Countries (OPEC). Nigeria’s economy is mainly dependent on the sale of crude oil and Libya light crude has the ...

Read More »

Global crude oil price hits $61 per barrel

Crude oil now sells for at least sixty one dollars a barrel. A reality,  that could aid producers who are dependent on the commodity like Nigeria. Nigeria’s budget bench for 2017 was pegged at $44.58 a barrel. The rise in price is highest since the middle of 2015 and was the result of the an agreement between members of the ...

Read More »