Crude oil theft and illegal refineries have become a significant menace in Nigeria, causing massive economic losses and environmental degradation. The illegal activities have resulted in the theft of millions…
The 6-Division of the Nigerian Army on Wednesday discovered and confiscated 15 boilers and 9 reservoirs with capacity to hold 5-million litres of crude oil from illegal refinery operators at…
The Nigeria Security and Civil Defence Corps said its men destroyed four illegal oil refining sites in Cawthome Channel One in Degema Local Government Area of Rivers State. The corps…
The NNPC/Aiteo Joint Venture has officially introduced the Nembe Crude Oil Grade, a new addition that promises to make waves on the international stage. The announcement was made during the…
Crude oil prices rose by a further two per cent yesterday, pushing Brent above $70 a barrel, as rhetoric from the U.S., Iran and Iraq fanned tensions in the Middle…
A cargo of Nigeria’s distillate-rich Bonga crude is due to move to the United States (U.S.) from the May loading programme, traders have disclosed, after a near six-month hiatus. According…
Already contending with the possible risk of price rises due to an increase in spending ahead of February’s presidential election, Nigeria may face higher inflationary pressures due to the recent…
Crude oil slide accelerated yesterday, with US futures suffering their steepest one-day loss in more than three years due to ongoing worries about weakening global demand and oversupply. US futures…
With concerns over a five-week long steady decline in crude oil price, economists at FSDH Merchant Bank Limited, yesterday posted what may be the likely impact on Nigeria’s economy in…