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...

AFC, Nigerian banks provide funds for N34bn Ughelli plant acquisition

Africa Finance Corporation and three Nigerian banks — United Bank for Africa Plc, First City Monument Bank Plc and Fidelity Bank — yesterday, stated...

FG risks $185bn loss over the next 10 years from PIB – Exxon Mobil...

Nigeria risks losing $185bn within 10 years as higher taxes proposed by a new law will deter investments in the country’s oil industry, an...

Oil theft, other factors lead to revenue shortfall in July

The Federation Account Allocation Committee Thursday deducted N115 billion from the Excess Crude Account (ECA) to make up for revenue shortfall for July. The withdrawal...

How $1bn power sector Eurobond will be spent – DMO

The $1billion Eurobond meant for public power supply stabilisation in Nigeria will not only be tied to the envisaged projects, but also closely monitored...

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