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Bonny Light price drops to $57.21, threatens 2019 budget

The execution of Nigeria’s N8.91 trillion 2019 budget is being threatened as the price of Bonny Light, the nation’s premium oil grade slides further from $60.86 to $57.21 per barrel, indicating a drop of $3.65.
Lagos State Government has declared zero tolerance for illegal abattoirs-slaughter slabs, waste mismanagement and unhygenic handling of meat.

Lagos declares war on illegal abattoirs

Lagos State Government has declared zero tolerance for illegal abattoirs/slaughter slabs, waste mismanagement and unhygenic handling of meat.

Lagos declares zero tolerance on operators of illegal abattoirs

Lagos State Government on Wednesday declared zero tolerance on operators of illegal abattoirs/slaughter slabs, waste mismanagement and unhygienic handling of meat in the state.

Green Energy gets federal government’s nod to develop Otakikpo Phase 2 Field

The management of Green Energy International Limited (GEIL), the operator of the Otakikpo marginal field in Oil Mining Lease OML 11 has secured Federal Government’s approval for the full Field Development Plan (FDP) and Environmental Impact Assessment (EIA) to enable the company implement the phase 2 development of the field.

Oil at six-week high on Gulf of Mexico storm, Iran tensions

Oil prices hit a six-week high on Thursday as oil rigs in the Gulf of Mexico were evacuated ahead of a storm, while an incident with a British tanker in the Middle East highlighted tensions in the region.

Oil rises on falling US stockpiles

Oil prices rose on Wednesday after industry data showed U.S. stockpiles fell far more than expected, alleviating concerns about oversupply, while major U.S. producers evacuated rigs in the Gulf of Mexico ahead of a brewing storm.

Oil price sinks on rising crude, gasoline inventory

Crude prices trended lower on Thursday after the Energy Information Administration (EIA) reported a weekly build in crude oil inventories at 6.8 million barrels.

Rivers community orders oil coy to suspend drilling operations

Rawlings Ete, the Paramount Ruler of Oyorokoto, a fishing community in Andoni Local Government Area (LGA) of Rivers, has ordered Amni Pet/Shelf Drilling Company to immediately suspend drilling operations in the community.

Oil prices fall as US output hits record high

Oil prices fell on Thursday, pulled down by record U.S. crude production that led to a surge in stockpiles.

Oil prices dip as US output at record high since 2017

Oil prices fell on Thursday, pulled down by record U.S. crude production that led to a surge in stockpiles.

Oil prices slip to $71.43 per barrel

Oil markets fell on Thursday despite a surprise decline in U.S. inventories, but the price drops were tempered by a smaller-than-expected reduction in gasoline stocks and ongoing Organisation of Petroleum Exporting Countries (OPEC)-led supply cuts.

Oil near 2019 highs on OPEC supply cuts, US sanctions

Oil prices were near 2019 highs on Tuesday, supported by supply cuts led by producer club OPEC.
An OPEC branded flag sits on a table ahead of the 169th Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria. | Akos Stiller | Bloomberg via Getty Images

Oil prices rise as OPEC resists Donald Trump pressure to ease supply cuts

Oil prices rose on Wednesday after a report of declining U.S. crude inventories and as producer club OPEC seemed to stick to its supply cuts despite pressure from U.S. President Donald Trump.

Oil prices fall as U.S. crude output hits record 12 million bpd

Oil prices fell on Friday after the United States reported its crude output hit a record 12 million barrels per day (bpd), undermining efforts by Middle East-dominated producer club OPEC to withhold supply and tighten global markets.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Oil ticks over near 2019 highs amid OPEC cuts, but economic slowdown applies brakes

Oil prices hovered close to 2019 highs on Thursday, bolstered by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran, but were prevented from rising further by slowing growth in the global economy.

Oil prices drop on rising US crude supply, but OPEC cuts support

Oil prices fell on Thursday after US crude inventories rose and the country’s production held at record levels, but OPEC-led supply cuts and Washington’s sanctions against Venezuela supported markets.

Oil prices fall with US record output, inventory

Rising U.S. crude inventories and record production levels knocked down oil prices Thursday, but OPEC-led supply cuts and Washington’s sanctions against Venezuela stabilised markets.

Oil prices soar as Saudi Arabia cuts US supply

Oil prices rose for a third day on Thursday pushed up by lower imports into the United States amid OPEC efforts to tighten the market as well as Venezuela struggles to keep up its crude exports after Washington imposed sanctions on the nation.

Recent Stories

Experts: Corruption, conflicts responsible for slow investments in Niger Delta

The poor and slow pace of oil and gas investments in the Niger Delta has been traced to corruption and conflicts in the region.
Alhaji Munir Sanusi, the chief of staff to the Emir of Kano, has confirmed the receipt of the query issued to Emir Muhammad Sanusi II by the Kano state government.

Kano emir cautions mediamen against sensationalism

The Emir of Kano, Malam Muhammadu Sanusi, has cautioned journalists, especially those in the print media, against sensationalising reports “just to make sales”.

My impeachment order, dead on arrival – Kogi deputy governor

The directive was raised as a motion by the Majority Leader of the House, Abdullahi Bello (Ajaokuta, APC), who quoted section of 188 (4) of the 1999 Constitution (as amended) to buttress his point.
Herdsmen

Delta government to rid communities of criminal herdsmen

Delta State government is to set up community vigilantes to protect women going to farms from criminal herdsmen attack.g
D'Tigers

FIBA World Cup: Nigeria’s D’Tigers leave for China

Nigeria’s senior basketball team appeared to have overcome their cash crunch as they announced their departure for China on Tuesday.