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Melee Kyari

MRS, Vitol, Oando, AYM Shafa win NNPC crude-for-fuel contracts

The NNPC has reportedly issued award letters for highly sought-after contracts to exchange crude oil for imported fuel, with some Nigerian oil firms beneficiaries.

Full list: 132 firms bid for NNPC’s crude oil swap

The NNPC, Nigeria’s state owned oil giant, Thursday announced that 132 companies had submitted bids for the 2019 crude for refined products programme tagged Direct Sale, Direct Purchase (DSDP).

NNPC: Oil output to hit 1.8 million bpd in 2019

Nigeria will increase its oil production to 1.8 million barrels per day next year, Nigeria National Petroleum Corporation (NNPC) Group Managing Director, Maikanti Baru, has declared.
Nigerian National Petroleum Corporation (NNPC)

Official: NNPC may sign oil swap deals with Shell, ExxonMobil

The Nigerian National Petroleum Corporation (NNPC) could sign crude-for-product deals with Shell and ExxonMobil, similar to one signed with BP last week, a senior NNPC official told Reuters on Monday.

NNPC signs crude-for-product swap deal with BP

Nigeria’s state oil firm NNPC said it had signed a crude-for-product swap deal with oil major BP.

Oil prices hit four-year-high of $81 amid looming Iran sanctions

Oil prices hit a four-year high of $81.48 a barrel on Tuesday after Saudi Arabia and Russia appeared to reject calls from the US to increase production amid looming sanctions against Iranian oil.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Oil prices at four-year high after OPEC rebuffs Donald Trump

Oil prices jumped more than two per cent to a four-year high on Monday after Saudi Arabia and Russia ruled out any immediate increase in production.

Recent Stories

Borrowing $22.7 billion will create more hardship for Nigerians – analyst

A Financial analyst and the chairman board of trustees of Chartered institute of Development and Social Studies, Mr Shae Bebeyi, has called on the federal government to shelve the idea of borrowing the proposed $22.7 billion saying it will at the long run create more hardships for Nigerians.

Experts: Why SMEs struggle to survive

Business experts and microfinance directors have identified lack of integrity and corporate governance as part of reasons why many small and medium businesses (SMEs) struggle to survive in the present economic situation.
The Speaker of the House of Representatives, Rep. Femi Gbajabiamila (APC-Lagos), has announced the demise of a former member of the house, Rep. Tony Okey. 6

House of Reps probes social insurance trust fund over ‘N2.3 billion fraud’

The House of Representatives has set up an inquiry into allegations that the management of the Nigeria Social Insurance Trust Fund (NSITF) pilfered N2.3billion of workers’ funds. The motion to probe the agency was sponsored by Rep. Francis Ejiroghene Waive.
Mercy Corps

Nigeria tops world rankings with 13.2 million out-of-school children

A Non Governmental Organisation known as Mercy Corps Nigeria (MCN) has revealed through research that no less than 13.2 million Nigerian children are out of school in the country.

NBC to curb exploitation of consumers by satellite TV stations

The regulatory body represented on the National Frequency Management Council (NFMC), in conjunction with the National Broadcast Commission, (NBC) has been charged with the responsibility to propose subsidiary legislation to support existing Act for enhanced efficiency and fairness to consumers. It is also to ensure that consumers are not been exploited by Satellite Television station providers.