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Tag: oil price

OPEC+ May Stick To Planned Output Hike On Oil Price Rebound

Organisation of the Petroleum Exporting Countries (OPEC)
The Organisation of Petroleum Exporting Countries (OPEC) and its allies are expected to press on with their planned revival of oil production when they meet next week, as prices bounceRead More

DPR Debunks Not Knowing Crude Oil Production Volume

Department of Petroleum Resources (DPR)
The Department of Petroleum Resources (DPR) Friday pushed back on reported comments that the country’s daily crude oil production remains unknown despite over 60 years of exploratory activities. Some reportsRead More

Report: Rising Oil Price May Derail FG’s Economic Reforms

Financial Derivatives Company Limited (FDC)
The Financial Derivatives Company (FDC) has warned that the rising crude oil price, which could rise above $100 per barrel, may sway the Federal Government to jettison its economic reformRead More

Sylva: With Rising Oil Price, High Petrol Cost Inevitable

Minister of State for Petroleum Resources, Chief Timipre Sylva
FG launches programme to reduce crude production cost The Minister of State for Petroleum Resources, Mr. Timipre Sylva, yesterday prepared the minds of Nigerians for a higher regime of theRead More

Analysts Foresee Faster Economic Recovery As Oil Price Hits $60

International Monetary Fund (IMF)
IMF urges FG to embark on aggressive revenue mobilisation Advises FG to raise VAT to 10% by 2022 Analysts yesterday forecasted a faster economic recovery for Nigeria as crude oilRead More

FG Disburses Fresh N123.348bn Grants To States

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed
Bayelsa, Imo, Rivers, Zamfara get zero allocations Govt limits collection cost of revenue agencies to 50% The Federal Government has disbursed another tranche of performance-based grants totalling N123.348 billion ($324.6Read More

Oil Price Sinks To Lowest Level In 16 Years

Crude oil
The price of Brent crude, the international benchmark, tumbled on Wednesday, March 18th, 2020 to the lowest level in 16 years as global markets continued to respond to the priceRead More