Amidst the flurry of refurbishment activities at the Port Harcourt refinery, Ibrahim Onoja, the Managing Director, disclosed that significant strides have been made, with over 75% of the project already completed. Onoja’s
More
The Nigerian Naira plunged to an unprecedented low on Friday, closing at N927.19/$1 in the official market and hitting N1165/$1 in the parallel market. Financial analysts expressed growing concerns as the domestic currency
More
In a move aimed at fortifying oil market equilibrium, the Organisation of Petroleum Exporting Countries (OPEC) and its allies announced on Thursday an additional reduction of 1 million barrels per day in
More
In a heated session, the Nigerian Senate Committee on Gas Resources wielded the sword of the Economic and Financial Crimes Commission (EFCC) against 15 oil and gas companies alleged to have misappropriated
More
Amidst escalating tensions within the Organization of Petroleum Exporting Countries (OPEC), Brent crude surged to $83.60 per barrel, setting the stage for OPEC’s meeting today. The meeting, which was delayed due to discord
More
The Chairman of the Bank Directors Association of Nigeria (BDAN), Mustafa Chike-Obi, dismissed the possibility of Nigeria achieving a $1 trillion economy by 2030. This came after Vice President Kashim Shettima spoke
MoreThe Nigerian naira witnessed a 6.06% appreciation against the dollar, closing at N831.47 on Wednesday at the official market. This upturn follows the Central Bank of Nigeria’s (CBN) move to address the
More
The Nigerian Senate has summoned Dangote Refinery and several other prominent entities for an urgent inquiry into the decline in Nigeria’s natural gas production despite the injection of N250bn intervention fund. “The
More
In a development within the oil and gas sector, Chappal Energies, a Nigerian-owned energy company, has sealed a deal to acquire Equinor’s Nigerian business, including a stake in the Agbami oil field.
More
Few hours after the judgment of the Supreme Court on the issue, the Central Bank of Nigeria (CBN) has directed banks in the country to issue and accept the old N200, N500,
More