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Conoil grows Q1 2017 profit to N3.3bn

Indigenous petroleum marketer, Conoil Plc, has reported a gross profit of N3.318bn for the first quarter of 2017, representing 67.66 per cent earnings rise...

Forte Oil unveils its growth plans for improved operations

According to the Group Executive Director, Finance and Risk Management, Forte Oil Plc, Julius Omodayo-Owotuga, the company is planning to deepen its focus on...

Indigenous oil firms struggle with N4.9tn bank debts

After becoming key players in the nation’s oil and gas industry in recent years, indigenous firms are now struggling with a debt burden of...

Oil prices rise for 8 days in a row, longest since 2012

Crude oil price recovered from early losses Monday to resume the longest stretch of rallies for eight days in a row, the longest in...

FG opens talks with AfDB on coal-to-power financing

The Federal Government has opened talks with the African Development Bank for the financing of coal-to-power projects across the country, The Punch reports. It was...

Only 2 NNPC subsidiary companies are profitable – BudgIT

A recent report by BudgIt, a research and business intelligence firm, has revealed that only two of the 11 subsidiaries of the Nigerian National...

Mobil Oil increases profit by 67%

The Chairman/Managing Director of Mobil Oil Nigeria Plc, Adetunji Oyebanji, during Mobil’s yearly generally meeting in Lagos recently, said the company has recorded a...

Nigeria earns $2.5bn from oil, gas exports over 12 months – NNPC

According to the Nigerian National Petroleum Corporation (NNPC), Nigeria’s total crude oil and gas export receipt from March 2016 to March 2017 stood at...

Shell says Nigeria was its biggest recipient of payments in 2016

Global oil giant, Royal Dutch Shell Plc, said on Tuesday that it paid $3.638bn to the Nigerian government last year for its activities in...

Anxiety mounts over Nigeria’s budget as oil prices drop to seven-month low

Anxiety may have heightened on how to finance Nigeria’s 2017 budget as oil prices fell to a seven-month low yesterday, after news of increases...

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