Crude Prices
Fuel import: PPPRA engages central bank on forex for oil marketers
The Petroleum Products Pricing Regulatory Agency (PPPRA), Monday said it is engaging with the Central Bank of Nigeria (CBN) on ways to make foreign exchange accessible to private oil marketing companies seeking to import Premium Motor Spirit (PMS), also known as petrol, and other petroleum products.
Oil prices dip on ease of Iran tension
Oil prices tumbled on Wednesday as United States President Donald Trump signalled tensions with Iran are easing, reducing fears of a deeper conflict between the two nations.
OPEC output slips on Nigeria, Iraq compliance
The oil output of the Organisation of the Petroleum Exporting Countries (OPEC) fell in December as Nigeria and Iraq adhered more closely to pledged reductions and top exporter Saudi Arabia made further cuts ahead of a new production-limiting accord, a Reuters survey found.
Saudi drone attack: Oil prices fall after initial rise
Oil fell more than one per cent yesterday as the market was challenged creating uneasiness following attacks on Saudi Arabian crude facilities that cut the kingdom’s production in half and sent prices soaring by the most in decades.
Trade wars: Oil majors to consider fresh cuts
Top oil producers will consider fresh output cuts at a meeting this week, but analysts are doubtful they will succeed in bolstering crude prices dented by the US-China trade war.
Oil rises towards $65 on fears of US attack on Iran
Oil prices rallied towards 65 dollars per barrel on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than 20 per cent of the world’s oil output.
Oil prices slip on economy fears
Oil markets fell on Friday, pulled down by worries over a global economic slowdown, although Organisation of the Petroleum Exporting Countries (OPEC)-led supply cuts and U.S. sanctions against Venezuela provided crude with some support.
Oil prices slip as U.S. crude output nears 12 million bpd
Oil prices fell on Thursday as U.S. crude production neared an unprecedented 12 million barrels per day (bpd) just as worries about weakening demand emerge.
Saudi economy escapes recession in first quarter
Saudi Arabia’s economy pulled out of recession in the first quarter of 2018, thanks to rising oil prices and a surge in the non-crude sector, authorities said Sunday.
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Medical council validates four coronavirus test kits – registrar
The Medical Laboratory Science Council of Nigeria (MLSCN) says it has validated four Rapid Test Kits to determine their suitability for testing SAR-COV-2 infection popularly known as COVID-19 in the country.
Nigerian celebrities mourn deceased Majek Fashek
Nigerian celebrities have taken to their social media platforms to mourn the death of Music Legend, Majekodunmi Fasheke, a.k.a Majek Fashek.
Rwanda set to announce new coronavirus restrictions
Rwanda says it will announce new restrictions on containing the coronavirus Tuesday, a stark reversal of the country's plan days ago to ease restrictions, including motor vehicle travel throughout the country.
Nigeria declares telecoms facilities critical national Infrastructure
In response to the yearnings of industry stakeholders to declare telecom facilities Critical National Infrastructure, President Muhammadu Buhari, has finally approved and also directed that necessary physical protective measures be put in place to safeguard telecommunications infrastructure deployed across the country.
ASCAB: President Buhari’s speech underestimate Sani Abacha’s $5 billion loot
Alliance for Surviving COVID-19 and Beyond, (ASCAB), a group led by prominent Nigerian human rights lawyer, Femi Falana has said that President Muhammadu Buhari’s claim that late dictator, Sani Abacha, stole $1 billion contradicts the figures earlier released by his own officials.
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Mozambique forces in major fighting with insurgents – president
Mozambique President Filipe Nyusi said government forces had engaged in extensive fighting against insurgents after they attacked the town of Macomia in the gas-rich northern region on Thursday.
Nigeria records 553 new coronavirus cases, total now 9,855
Nigeria has recorded 553 new coronavirus infections, bringing the total cases close to 10,000.
Rwanda set to announce new coronavirus restrictions
Rwanda says it will announce new restrictions on containing the coronavirus Tuesday, a stark reversal of the country's plan days ago to ease restrictions, including motor vehicle travel throughout the country.
Nigeria-Denmark citizen docked over alleged hard drugs production
A 41-year-old Nigeria-Denmark citizen, Oluseyi Oladapo, was yesterday arraigned before a Federal High Court, sitting in Lagos, over alleged unlawful dealings in hard drugs.
President Buhari to intervene in Kogi, NCDC face off
The Kogi State Government may be under renewed pressure from high places, including the presidency to change it’s attitude towards management of the Coronavirus pandemic.