Oil surged Thursday, recording the most single day gain since 2008 as Middle East producers began to show signs of strain and helped by U.S.
Oil marketers say they need some clarifications before they can begin to effect changes in the pump price of petrol.
The Nigerian National Petroleum Corporation (NNPC) has challenged professionals in the Nigerian petroleum sector to come up with solutions to tackle current challenges facing the industry.
United States West Texas Intermediate (WTI) crude Oil has dropped to the lowest levels since 2003, below $26 per barrel.
The House of Representatives has resolved to investigate the failure of the Federal Government’s N3.4 billion solar powered Grid Project in the six Geo-Political Zones and the Federal Capital Territory (FCT).
Oil’s spectacular collapse deepened Monday as widening global efforts to fight the spread of the coronavirus looked set to trigger the most severe contraction in annual oil demand in history piling fresh pressure on countries like Nigeria.
Oil continued to slide Monday falling more than 10 percent to the lowest level since early 2016 over falling demand of the commodity as activities around the world ground to halt and OPEC+ remain at an impasse.
The upcoming 5th Nigeria Energy Forum (NEF 2020) will focus on achieving the Sustainable Development Goal 7 and on how to facilitate investments in sustainable electrification, clean energy growth and efficient energy technologies, the organisers have said.<
Stocks on the Nigerian Stock Exchange (NSE) slipped from early gains into a loss in intra-day Monday following a big drop in oil price to levels seen in 2016.
Chairman of the Society of Petroleum Engineers (SPE), Joe Nwakwue, says worsening crisis in having Nigerian refineries work optimally is as a result of institutional problem and not technical problem.