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Nigeria has lost an opportunity to produce and sell about 65,700,000 barrels of oil in the last one year due to issues bothering on pipeline vandalism and the resultant oil theft. This translates to about N2.3tn loss in oil revenue if the prevailing exchange rate and average oil price are used. The Chairman of Shell
IF a nation’s ports are poorly run, life cannot but be hard for the citizenry. And that is exactly the case with Nigeria where, eight years after
The Integrity Youth Alliance, a coalition of over 70 non-governmental organizations and civil society organizations across Nigeria, has called on the NNPC Limited Chief Executive Officer, Mele Kyari, and Chief Financial Officer, Umar Ajiya, to ignore the serially sponsored publications by Sahara Reporters and concentrate on transforming NNPC Limited into a viable commercial entity, capable
Get latest articles and stories on Business at LatestLY. "It is quite alarming that illegal deals with China cost Nigeria USD 2.4-billion revenue loss from the sale of stolen 48 million barrels," Nigeria's Speaker of the House of Representatives Femi Gbajabiamila said in Abuja on Tuesday, at the opening of the ad hoc committee set up to probe the deals. Business News | Nigeria Probes Sale of Stolen 48 Mn Barrels of Crude Oil to China.
Oil prices increased on Friday, after the International Energy Agency (IEA) predicted that a record-high global demand would be reached this year as a result of a rebound in Chinese demand.