Nigerian, Qatari LNG cargos heading for UK LNG terminals

Nigerian, Qatari LNG cargos heading for UK LNG terminals

United Kingdom’s liquefied natural gas import terminals on the Milford Haven waterway are set to receive a pair of cargoes over the week. According to the shipping data by Milford Haven Port Authority, the first of the three cargoes is scheduled to arrive at the …..

‘Oil companies not leaving Nigeria in next 30 years’

‘Oil companies not leaving Nigeria in next 30 years’

Sarki Auwalu is the Director/Chief Executive Officer of the Department of Petroleum Resources. In this interview with the Business Editor, CLARA NWACHUKWU and FEMI ADEKOYA, he talks about a wide range of issues bordering on oil licensing, compliance with production quotas, gas-to-power, as well as …..

Global Lockdown Crashes Oil Price

Global Lockdown Crashes Oil Price

Oil prices dropped yesterday as governments’ escalated lockdowns to curb the spread of the global Coronavirus outbreak that has slashed the demand outlook for oil and threatened a global economic contraction.  Brent crude futures fell $1.09, or 4 percent, to $25.89 a barrel while West …..

Reduction in pump price, NECA calls for removal of subsidy

Reduction in pump price, NECA calls for removal of subsidy

The Nigerian Employers’ Consultative Association (NECA) has charged the Federal Government to use present conditions in the oil industry to completely remove subsidy on petroleum products in Nigeria. Though commending government on the reduction in price of premium motor spirit (PMS), NECA said government should allow …..

Of Regulation, Deregulation and Petroleum Products Pricing

Of Regulation, Deregulation and Petroleum Products Pricing

With low oil prices in the international market, the Nigerian government has been quick to throw a token of fuel price reduction at Nigerians. But there is nothing salutary about the decision of the government to intervene yet again and determine the price of petroleum …..

CBN stops dollar sales to NNPC

CBN stops dollar sales to NNPC

CENTRAL Bank of Nigeria (CBN) has stopped local and international oil companies from selling dollars to the Nigerian National Petroleum Corporation (NNPC). The apex bank said the move is in line with the its determination to improve foreign exchange supply to the economy as the …..

Workers’ Salaries In Jeopardy As Oil Price Tumbles Again

Workers’ Salaries In Jeopardy As Oil Price Tumbles Again

•FAAC meeting deadlocked as states reject amount presented for sharing AS another economic recession looms in the wake of the global Covid-19 pandemic, there are very present fears among workers of the 36 state governments over the ability of their governments to continue to pay …..

Falling oil price may last till year end – NNPC

Falling oil price may last till year end – NNPC

the crash in oil prices will have a collateral effect on the country’s economy, the Nigerian National Petroleum Corporation said on Wednesday. The NNPC also stated that the low oil prices could drag on till the end of the year. The corporation’s Group Managing Director, …..

Covid-19 puts Budget 2020, economy on edge

Covid-19 puts Budget 2020, economy on edge

The impacts of Covid-19 have taken a toll on Nigeria’s economy as with others, globally.  Nigeria’s situation, though not isolated, is pathetic given the fact that its main source of revenue,  crude oil, is badly affected, with the resource losing, as at the last count, …..