Like every other futures contract, oil futures contract or crude oil futures is a legal agreement that binds two parties to either buy or sell oil at a predetermined amount, at a stipulated time in th...
It was said that Nigeria's oil industry would gain pace heading into 2022 after the passage of the Petroleum Industry Act (PIA) and a moderate recovery from a COVID-19-induced recession; but, the sect...
West Texas Intermediate (WTI) is a crude oil benchmark used in oil pricing. It is a grade of crude oil referred to as light sweet crude oil because of its low density and low sulfur content (0.24%). T...
According to a recent report, Nigeria lost over N720 billion in revenue in February and March 2024 due to its crude oil production declining month after month.It was also announced that Nigeria missed...
The Organisation of Petroleum Exporting Countries (OPEC), on January 18, 2024, released its Monthly Oil Market Reports (MOMR), revealing that Nigeria has experienced an increase in its crude oil outpu...
Mele Kyari, the astute Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, has made a remarkable proclamation regarding Nigeria's crude oil production. In an interview ai...
Recent reports from S&P Global Commodity Insights have revealed that the Nigerian crude oil industry is facing a significant setback due to the emergence of a cheaper alternative. Blending two cru...
The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to “set up a presidential panel of enquiry to promptly probe the grim allegations that US$2.1 billion...
Named by Forbes as the richest woman in Nigeria, and the second most powerful woman in Africa. Alakija has a net worth of $1 billion, as of November 2019. She is the Managing Director of t...
On Wednesday, the Organisation of Petroleum Exporting Countries (OPEC) announced that it and its allies had agreed to maintain the current oil output policy through their June meeting.According to a s...