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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 on Wednesday declared zero tolerance on operators of illegal abattoirs/slaughter slabs, waste mismanagement and unhygienic handling of meat in the state.
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 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.
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.
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 fell on Thursday, pulled down by record U.S. crude production that led to a surge in stockpiles.
Oil prices were near 2019 highs on Tuesday, supported by supply cuts led by producer club OPEC.
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 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.
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 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 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.
The poor and slow pace of oil and gas investments in the Niger Delta has been traced to corruption and conflicts in the region.
The Emir of Kano, Malam Muhammadu Sanusi, has cautioned journalists, especially those in the print media, against sensationalising reports “just to make sales”.
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.
Delta State government is to set up community vigilantes to protect women going to farms from criminal herdsmen attack.g
Nigeria’s senior basketball team appeared to have overcome their cash crunch as they announced their departure for China on Tuesday.
Nigeria is demanding that the African Development Bank (AfDB) take over the funding of several projects geared at maintaining air safety in Africa following the decision of the United States of America to suspend the allocation of funds for the ‘safe sky programme’ in Africa.
The Kwara state police command on Tuesday arraigned a second class monarch from Odo-Owa, Oke-Ero local government area, Oba Joshua Adeyemi Adimula for alleged trespass to land and threat to life.
A joint border security exercise involving the military, paramilitary and intelligence agencies is underway as part of government’s strategic, multi-sectoral effort aimed at securing Nigeria’s land and maritime borders.
Attempt by 51-year-old Adekunle Gbolagade, a private driver, who posed as a Police Sergeant to effect the release of a detained suspect, has been foiled.
The Federal High Court Abuja, on Monday, refused to grant a request stopping President Muhammadu Buhari from inaugurating the 43 ministerial nominees over the exclusion of an FCT indigene from the cabinet list.