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...

FG may have raked in N358.04bn from PHCN asset sales

All things being equal, the Federal Government may have raked in about $2.238 billion or N358.045 billion from the sale of 15 Power Holding...

Crude oil trade movements for North Sea, Mediterranean and West Africa

Royal Dutch Shell Plc, Gunvor Group and Vitol Group failed to sell North Sea Forties crude for a second day. Total SA (FP) bought...

OPEC daily basket price closed at $107.06/b on Tuesday 20th August 2013

The price of OPEC basket of twelve crudes stood at 107.06 dollars a barrel on Tuesday, compared with $107.83 the previous day, according to...

Nigeria’s debt/GDP ratio moves to 35%, edges closer to fiscal ceiling

Following the upsurge in borrowings by the federal and state governments, the Asset Management Corporation of Nigeria (AMCON) and public agencies such as the...

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