Second wave of pandemic poses risks to oil rebound
As countries brace for a second wave of the coronavirus spread, analysts have warned that an unexpected hit to demand could derail oil prices, as producers are yet to reduce their stock builds
Nigeria hopeful as oil passes $30 benchmark amid new cuts
Crude oil futures were higher yesterday morning amid market expectations that demand destruction following the COVID-19 outbreak has found a floor, while OPEC+ cuts begin.
Nigeria's weak economy and risks of COVID - induced recession
From a six per cent Gross Domestic Product (GDP) six years ago, to recession in 2016, with post-recession’s fragile recovery below two per cent till date, and now predictions...
‘Plummeting crude oil prices, an opportunity for Nigeria’
Oil marketers under the umbrella of Major Marketers Association of Nigeria (MOMAN) have reiterated that the global reduction in crude oil prices has presented Nigeria with the opportunity to reform
Crude oil: FG to achieve national target of 3m bpd before 2023
The Federal Government says it will increase crude oil production to the national target of three million barrels per day and reserves of 40 million barrels before 2023.
Buhari challenges security chiefs on crude oil theft
President Muhammadu Buhari on Thursday in Abuja challenged security chiefs on the need to bring an end cases to crude oil theft in the country. The Inspector-General of Police, Muhammed Adamu, said the president gave the challenge when he met behind closed doors with security chiefs, at the State House, Abuja.
2019 budget and oil price volatility
A recent drop in the international price of crude oil has re-echoed the great need for a total overhaul of the management of the Nigerian economy.
Why crude oil losses persist despite huge surveillance contracts
Despite the Nigerian National Petroleum Corporation (NNPC) award of multi-million dollar pipeline surveillance contracts to private security companies, the loss of 22 million barrels of crude oil between January and June is a pointer that the problem is steadily growing worse.