CBN to clampdown on banks over power funding

The Central Bank of Nigeria, CBN, is set to curtail the excesses of banks as regards their funding of power projects. This is in the...

Kerosene not covered by N1.4tn subsidy – Okonjo-Iweala

The Minister of Finance, Dr. Ngozi Okonjo-Iweala, said on Monday that the N1.4tn spent by the Federal Government on subsidy covered only petrol because...

Crude declines to four-month low as Libya to resume exports

West Texas Intermediate fell to the lowest level in more than four months as Libya prepared to resume exports from two terminals and U.S....

OPEC daily basket price stood at $105.53 a barrel Friday, 1 November 2013

The price of OPEC basket of twelve crudes stood at 105.53 dollars a barrel on Friday, compared with $106.75 the previous day, according to OPEC Secretariat...

Transcorp profit before tax hits N5.1bn

Transnational Corporation of Nigeria Plc has announced an impressive profit before tax of N5.1 billion for the third quarter ended September 30, 2013 which...

Fed Govt earned N8tr from oil last year

The Federal Government earned N8trillion from oil last year,according to the Central Bank of Nigeria’s (CBN) yearly report released at the weekend. Analysis of the...

Conoil’s Q3 profit soars by 341%

Conoil Plc has rekindled its 2013 half year performance with yet another outing for the third quarter of the year. According to Conoil’s unaudited report...

Brent sheds nearly $3 on strong dollar, spread narrows

Brent oil fell sharply on Friday, tumbling by nearly $3 a barrel, and settling at its lowest point since early July, narrowing its premium...

Chevron reports third quarter net income of $5.0 billion

Chevron Corporation Friday reported earnings of $5.0 billion ($2.57 per share - diluted) for the third quarter 2013, compared with $5.3 billion ($2.69 per...

Lekoil gains Ogo funds in $100m placing

Lekoil has raised around $100 million in a London share placing to fund drilling, testing and appraisal of the Ogo oil discovery off Nigeria. The...

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