Tag: oil producer

Report: Nigerian Businesses Turn To Solar As Diesel Costs Bite

Solar panels

Nigeria’s solar companies are seeing a surge in demand for mini-grids and equipment as businesses in Africa’s biggest oil producer look for alternative power sources, a Reuters report disclosed. The Read More

FG To Boost Crude Oil Production In Two Weeks

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed

Says shocks in oil market difficult to manage *Attributes high cost of fertiliser to scarcity of potassium The federal government will boost crude oil production through the reactivation of oil Read More

OPEC+ Misses Oil Supply Target As Over-compliance Hits 117% In November

Organisation of the Petroleum Exporting Countries (OPEC)

Compliance with oil production cuts by the Organisation of Petroleum Exporting Countries (OPEC) and its allies known as OPEC+ stood at 117 per cent in November, up from 116 per Read More

Brent Crude Crashes To $25, US Oil Falls Below $1

Crude oil

The international oil benchmark, Brent crude, fell to $26 per barrel on Monday, April 20th, 2020, as the demand collapse triggered by the COVID-19 pandemic has caused a massive oversupply Read More

FG, Oil Firms Lose N24bn In Eight Days Due To Pipeline Shutdown

Oil Pipeline

The Federal Government and some oil companies lost an estimated $67.92m (N24.45bn) in revenue in eight days, due to the suspension of exports of Forcados, one of the nation’s largest Read More