petroleum
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People & Money
DPR Says Nigeria Has 5,300 “Dormant” Oil Reservoirs
The Department of Petroleum Resources (DPR) has revealed that Nigeria has 7,000 reservoirs i.e., rock formations in which oil has…
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People & Money
Dangote Refinery Reaches 80% completion, to Start Selling Petrol Next Year
Dangote Group said it will start the sale of petroleum products from its refinery in the last quarter of 2021…
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People & Money
ExxonMobil to Cut 14,000 Jobs, Reports Third Consecutive Quarterly Loss
ExxonMobil declared a third straight loss quarterly loss on Friday as it pared down capital expenditure for next year and…
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People & Money
Oil Price Falls to May Low as Coronavirus Infections Rise in America and Europe
Oil prices fell by more than 4% on Thursday, hitting a five-month low and extending Wednesday’s steep decline over fears…
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People & Money
NNPC Pays IOCs $3 Billion in Partial Settlement of Past Operational Dues
The Nigerian National Petroleum Corporation (NNPC) recompensed oil supermajors including Royal Dutch Shell Plc and Exxon Mobil Corp. around $3.02…
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People & Money
Coronavirus Second Wave Puts OPEC+ Under Strain Despite Resurgence of Demand in China and India
Saudi’s oil and gas minister challenged oil speculators to test his resolve to achieve stability in global markets when the…
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People & Money
Nigeria Would Benefit From Subsidy Removal – World Bank President
The president of the World Bank Group, David Malpass, has said that Nigeria stands to benefit from its decision to…
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People & Money
Malabu: ENI Accuses US Firm of Funding Nigeria’s Court Case
Italian oil major, Eni, is hunting for documents from a United States investment firm assisting Nigeria sue it and Royal…
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People & Money
Oil Prices Slide Further as U.S. Producers Restore Output, but Nigeria’s Bonny Light Gains $0.30
Oil prices declined for the second successive session on Monday, with United States producers restoring output, following a lull in…
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People & Money
Oil Prices Dip After Norway Oil Workers Halt Strike; Nigeria’s Bonny Light up $0.30
Oil prices slid by over 1% on Friday, following the cessation of a labour action by oil workers in Norway…
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