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Abdulaziz bin Salman
Top oil-producers agreed Sunday on “historic” output cuts in a bid to boost plummeting oil prices due to the new coronavirus crisis and a Russia-Saudi price war.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the federal government adopted a lower oil benchmark price of $57 per barrel for the 2020 budget as against the $60 per barrel in the 2019 budget because of the expected oil glut in 2020, as well as the need to cushion against unexpected price shock.
Saudi Arabia’s energy minister Abdulaziz bin Salman said that half of the crude oil production that was disrupted due to the weekend attack on Aramco’s oil facilities had been restored.
Minister of State for Petroleum Resources, Chief Timipre Sylva, says that Nigeria will cut down on its crude oil production to comply with the targets set by the Organisation of Petroleum Exporting Countries (OPEC).
Saudi Arabia and Russia on Thursday called on OPEC members and its allies to better comply with oil production cuts.
Oil futures hit a six-week high on Tuesday, rising for a fifth day on optimism that OPEC and other countries may agree to extend production cuts in a bid to support prices.
Oil rose on Monday on expectations that Saudi Arabia, the world’s largest oil exporter, will continue to support output cuts by OPEC and other producers to prop up prices under new Energy Minister, Abdulaziz bin Salman.
The Lagos State House of Assembly says a bill that will make operators of lottery, pools and betting in the state to pay N20 million as licence fees to the state government is underway.
Facebook is launching a new digital platform that will let event organizers create paid online events to try to fill the gap created by the COVID-19 pandemic, the social media giant announced on Friday.
The Managing Director of Cross River Basin Development Authority has been suspended from office by the board of the agency.
The National Working Committee (NWC) of the Peoples Democratic Party (PDP), acting on behalf of the National Executive Committee (NEC), has reconstituted the Kaduna State Caretaker Committee.
American singer and songwriter, Miley Cyrus, says she lost her virginity to her ex-husband, actor Liam Hemsworth at the age of 16.
Donny van de Beek says he is "proud" to play for Ajax and will not complain if he does not get a move away from the club amid interest from Manchester United and Real Madrid.
The U.S. government on Tuesday donated 200 life-saving ventilators to Nigeria as a fulfilment to help Nigeria in the fight against the COVID-19 pandemic.
A total of 2, 933 Nigerians have been evacuated from the United Arab Emirates (UAE) so far, according to the Nigerians in Diaspora Commission, NiDCOM.
The leadership of the Senate and House of Representatives Committees on Army have lauded the effort of Nigerian Army in curtailing banditry and other security challenges in the North West.
Victor Oshioke, an aide to the suspended All Progressive Congress (APC) National Chairman, Comrade Adams Oshiomhole, who hails from Apana, has debunked the allegations that the attack on Obaseki’s convoy by thugs was sponsored by Oshiomhole.