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Nigerian Oil

Fifty unsold cargoes of Nigeria’s oil await buyers in global market

The global oil market remains dull as 50 unsold cargoes of Nigeria’s Bonny Light await buyers, indicating that the volatile market is still flooded with unsold stocks.
The number of active oil rigs in the country fell by 23.8 per cent to 16 in April amid the coronavirus-induced collapse in prices and demand for crude.

Nigeria’s active oil rigs fall by 24 percent

The number of active oil rigs in the country fell by 23.8 per cent to 16 in April amid the coronavirus-induced collapse in prices and demand for crude.

Platts: No buyers yet for 50m barrels of Nigeria’s crude oil

Global energy data, financial information and analytics company, S&P Global Platts, disclosed that more than 50 million barrels of Nigerian crude oil for late April and May 2020 loading are still unsold, while the overhang is forcing down the value of Nigeria’s crude oil.
Seplat Petroleum Development Company

Seplat slashes costs, drilling plans amid oil price crash

Nigerian oil company Seplat is targeting cost cuts of at least 30% amid a steep oil price crash, an executive told Reuters on Monday.

Expatriates in oil, gas sector reduced by 80 percent – NCDMB chief

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Mr Simbi Wabote, says that the number of expatriates working in the Nigerian oil and gas sector has been reduced by 80 per cent.

Demand for Nigerian oil “dire” as US competition ramps up

Nigerian oil has suffered its slowest sales of the year in August, traders said, as U.S. exports of competing light, sweet grades flood traditional markets in Europe and Asia.

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Philippe Coutinho will decide on his future after the Champions League

Barcelona midfielder Philippe Coutinho who is currently on loan at Bayern Münich could play against Barcelona in the quarter-finals of the Champions League if Barcelona manages to knockout Napoli, and if Bayern defeats Chelsea.

Kebbi embarks on road networks

The Kebbi State Government has commenced the construction of road networks in Gwandu and Argungu Local Government Areas of the state.

Gunmen attack Ekiti community, abduct three

Gun wielding kidnappers numbering 10, on Friday evening attacked Isinbode Ekiti in Ekiti East Local Government Area of the State and abducted three persons.
The Nigeria Investment Promotion Commission (NIPC) has restated its commitment toward promoting Nigeria’s investment opportunities.

Official: NIPC restates commitment to promoting Nigeria’s investment opportunities

The Nigeria Investment Promotion Commission (NIPC) has restated its commitment toward promoting Nigeria’s investment opportunities.
A corrections officer stands guard in late June at San Quentin State Prison. More than a third of the inmates and staff at the prison in the San Francisco Bay Area have tested positive for the coronavirus. David Paul Morris-Bloomberg via Getty Images

California to release 8,000 prisoners

California will release up to 8,000 more prisoners to reduce the spread of the coronavirus in its crowded jails, according to authorities in the US state, one of the hardest hit by the pandemic.