23

Oct

NNPC Supplies Crude Oil to Dangote Refinery under Naira-for-Crude Agreement

The Nigerian National Petroleum Company Limited (NNPC) has supplied four cargoes of crude oil to Dangote Refinery under the naira-for-crude sale agreement. Additional deliveries are expected in the coming weeks. A source from Dangote Refinery disclosed that the first phase of this naira-for-crude sale agreement is set for six months. The government will review the agreement at […]

Read Article

11

Sep

Crude Oil price falls below $70 per barrel

The international oil benchmark, Brent Crude, fell below $70 per barrel on Tuesday for the first time since the end of 2021, amid growing concerns about slowing global economic growth. Brent Crude dropped by more than three percent, falling below the $70 per barrel mark, while the main US contract, West Texas Intermediate (WTI), also experienced a[…]

Read Article

17

Apr

FG eyes more revenue as US increases purchase of Crude Oil

The United States has resumed huge crude oil importation from Nigeria, increasing the country’s oil revenue by N156bn last month, The PUNCH findings revealed. The US increased its imports to 4.3 million barrels in March, the highest since June 2018, according to Customs data on Refinitiv Eikon. US refiners turned to other crude oil sources for the[…]

Read Article