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Business

Israel-Hamas Conflict: Crude oil prices surge over fears of supply cuts

Oil prices rallied on Monday after Hamas launched a shock attack on Israel at the weekend, which has sparked fresh concerns about tensions in...

Business

Crude oil price hits $97 per barrel after US storage hub records decline in stocks

Brent crude oil price rallied to $97.5 on Thursday, as the crude storage hub in Cushing, Oklahoma, United States, fell by 943,000 barrels to...

Politics

Troops recover crude worth over N1bn, rescue 76 kidnap victims in N/Delta – DHQ

The Defence Headquarters says troops of Operation Delta Safe recover crude worth over N1bn and rescued 76 kidnap victims in the Niger-Delta region of...

Business

Nigeria, others’ crude oil boost OPEC+ output, tempers Saudi, Russia cut

Crude oil output in Nigeria and Iraq amongst others tempered the cut adopted by Saudi Arabia and Russia in August, a Platts survey conducted...

Business

Nigeria still losing 400,000 barrels of crude oil daily – NSA

The National Security Adviser (NSA), Malam Nuhu Ribadu, says the country is still losing 400,000 barrels of crude oil daily to local and international...

News

NECA counsels Nigerian govt on how to reduce forex pressure

The Nigeria Employers’ Consultative Association {NECA}, on Wednesday, counseled the Federal Government on the need to ramp up crude oil production to the 1.8...

Business

OPEC+ crude oil production hits two-year low, after cuts by Saudi Arabia

A Platts survey by S&P Global Commodity Insights has shown that crude oil production by the Organization of Petroleum Exporting Countries (OPEC) and its...

Business

Nigeria to renegotiate crude oil quota, after OPEC cuts country’s output by 440,000

Nigeria’s crude oil production quota will be renegotiated in November, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele...

Business

Stolen crude: NNPCL intercepts vessel operating ‘stealth mode for 12 years’

By Emmanuella AnokamA vessel conveying 800,000 litres of suspected stolen crude oil has been intercepted by a private security contractor engaged by the Nigerian...

Business

BUSINESS ROUNDUP: Nigeria is Africa’s largest crude oil producer; Inflation rate hits 22.41%; other stories

Hello, and welcome to the Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital...

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