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Oil rose on Thursday after industry data showed a surprise drop in U.S. crude inventories, while comments from an OPEC official about lower-than-expected U.S. shale production growth in 2020 also provided some support.
The Federal Government has commenced Environmental Impact Assessment for the proposed Edo oil palm estate development at Ovia North-East Local Government Area. The project is part of ongoing reforms by the Edo State Governor, Mr. Godwin Obaseki to attract investments into the state.
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.
Oil prices fell on Thursday on concerns of lower fuel demand as talks this week between the United States and China, are not expected to help end the trade war between them.
Oil prices slipped for a third consecutive session on Wednesday as tensions escalated between the United States and China prior to this week’s trade talks, raising uncertainties for global economic growth and oil demand.
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.
Wife of Nigeria Vice president Dolapo Osibanjo has said that abuse against women in any form is wrong and offensive against collective humanity.
Manchester United face mounting competition to secure the signature of Borussia Dortmund’s Jadon Sancho, as Chelsea have now joined the fray.
South Africans are struggling to understanding the extent of a radical religious terror group which had allegedly planned to unleash race-based mayhem on ‘Black Friday’ last week.
The US State Department on Tuesday urged travellers to Tanzania to “exercise increased caution” due in part to threats that gay people may experience there.
Former Governor of Abia State, Dr Orji Uzor Kalu, who was sentenced to 12 years imprisonment, over N7.65billion fraud, by a Federal High Court sitting in Lagos, while being led out of the court by the Correctional Service officers on Thursday said ‘2023, here we come’.
A lawyer, Femi Falana, on Sunday said the federal government has applied to the Federal High Court in Abuja for an order of transfer the publisher of Sahara Reporters, Omoyele Sowore, and his co-accused, Olawale Bakare, from the custody of the State Security Service (SSS) to prison.
Arsenal legend Thierry Henry admits the club would be lost without Pierre-Emerick Aubameyang and is hoping for an improvement from the Gunners as Freddie Ljungberg looks to put his own stamp on the team.
Manchester United manager Ole Gunnar Solskjaer has seemingly rubbished reports that he has told his players that he is close to the sack, slamming the ‘made up blatant lies’.
The Forty-seven-year-old grandmother, Tope Akinola, who was recently arrested by the Ogun state police command for poisoning her your two-day-old granddaughter in Ogun state has revealed that she didn’t know it was against the law to kill the two-day-old granddaughter. She further revealed that she did it out of poverty and not because she didn’t like the baby’s father.
Bose, the wife of the late human rights activist, Beko Ransome-Kuti, has died at the age of 74 years.