Forte Oil records N1.4 billion half-year profit

Forte Oil Plc  Thursday announced a profit after tax of N1.39 billion for the half year-ended June 30, 2013, an increase of 63 per...

TCN board seeks funding from excess crude account

The reconstituted supervisory board of the Transmission Company of Nigeria (TCN) has asked the federal government to finance expansion projects in Nigeria's power sector...

Nigeria picks Goldman, Credit Suisse, UBS for wealth fund

Nigeria's sovereign wealth fund on Wednesday appointed Goldman Sachs, UBS and Credit Suisse as asset managers for the 20 percent portion of its $1 billion fund...

OPEC daily basket price stood at $109.28 a barrel Tuesday, 27 August 2013

The price of OPEC basket of twelve crudes stood at 109.28 dollars a barrel on Tuesday, compared with $108.36 the previous day, according to OPEC Secretariat...

Oil gains more than $2 on possible Syria strike, Brent above $117

Oil rose more than $2 a barrel on Wednesday, with Brent pushing above $117 and the U.S. benchmark soaring to its highest in over...

FG signs N78bn MoU with Chinese firm

The Federal Government on Tuesday signed a N78bn ($500m) Memorandum of Understanding with the Xian Electric Engineering Company Limited of China for the execution...

Dangote’s plans for financing refinery, petrochemical project

Dangote Industries Limited (DIL) is set to sign a $3.3 billion term loan agreement with a consortium of local and foreign banks on September...

Federal Government makes N304bn from sale of power assets

An estimated N304.82 billion ($1.957 billion) was paid into the coffers of the federal government last week when 14 of the preferred bidders who...

OPEC daily basket price stood at $108.36 a barrel Monday, 26 August 2013

The price of OPEC basket of twelve crudes stood at 108.36 dollars a barrel on Monday, compared with $108.25 the previous Friday, according to OPEC Secretariat...

Nigerian naira flat, oil firm dollar sales support

Nigeria's naira closed broadly flat against the U.S dollar on the interbank market on Monday as two multinational oil companies sold about $107 million...

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