crude 2

Reps summon Finance Minister, SGF, and Malami over alleged $2.4b unremitted oil fund

The House of Representatives Ad hoc Committee investigating the alleged loss of over $2.4 billion in revenue from illegal sale of 48 million barrels of crude oil in 2015, has summoned Minister of Finance, Zainab Ahmed,  Secretary to the Government

Navy arrests 10 oil thieves with over 100 jerry cans

Men of the Nigerian Navy have arrested 10 suspected pipeline vandals while attempting to steal crude from the sea in Lagos.

Nigeria Among Top 3 Countries With Highest Oil Discovery In 2023

"Currently, Nigeria has the technical allowable capacity to produce about 2.5 million barrels of oil per day.

Nigeria Emerges from First Economic Recession in 25 Years - National Bureau of Statistics

After several quarters of slowdown in growth on the back of the steep fall in crude oil prices, the economy contracted by 0.4 per cent in the first quarter of 2016, 2.1 per cent in the second quarter, 2.2 per cent in the third and 1.3 per cent

Aliko Dangote confirms refinery startup in December, says 350,000 bpd is first target

Recall that Nairametrics reported on November 2, that the Nigerian National Petroleum Company Limited will supply 6 million barrels of crude oil totalling 200,000 barrels of oil per day to the Dangote refinery next month as part of a one-year

Naira Now Undervalued After Free Float - Bank Of America

"In our view, increasing crude oil production to 1.6m bpd in the next 12 months is feasible and would be a structural improvement from current levels of about 1.2m bpd.

PPPRA Reveals Shocking Amount of Money Spent on Fuel Subsidy in 10 Years

A further analysis of the spending shows that between 2011 and 2015, under former President Goodluck Jonathan, the nation recorded huge spending of N5.993 trillion, against N2.296 trillion recorded under former President Olusegun Obasnjo.

Here's how much Nigeria made from selling refined oil to the UK

The top 5 products Nigeria sold to the UK include crude oil gas, aircraft, metal ores & scrap, and refined oil.

EndSARS: Tension as N'Delta militants roll out 11-point demand

oil on 1.86 million dollars to 2.2 million dollars barrels on daily basis without any tangible," the militants said.

"We spent N502B on COVID-19 Intervention" - Finance Minister, Zainab Ahmed

The minister stated that Nigeria was severely impacted by the pandemic since it was recovering from recession before COVID-19, which resulted in an all-time drop in crude oil prices, the country's economic pillar.

Navy impounds 600,000 liters of illegally refined diesel

According to him, there is no hiding place for crude oil thieves as the Navy will continue to sustain patrols in the maritime environment.

Top 5 products Nigeria exported to the UK in 2023

Crude oil £1.2 billion 62.6% 2. Refined oil £334.5 million 17.8% 3. Gas £292.4 million 15.6% 4. Aircraft £21.7 million 1.2% 5. Metal ores & scrap £12.1 million 0.6%

Crude prices drop after Angola quits OPEC

7,694.73 (close) Paris - CAC 40: DOWN 0.2 percent at 7,571.40 (close) Frankfurt - DAX: DOWN 0.3 percent at 16,687.42 (close) EURO STOXX 50: DOWN 0.2 percent at 4,524.86 (close) Tokyo - Nikkei 225: DOWN 1.6 percent at 33,140.47 (close) Hong

Buhari's emergence saved Nigeria - Governor Masari

"When PDP was in power, the country was producing 2.2 million barrels per day-that was the time the country was getting huge revenue; it was more than enough.

Crude Oil Theft: How oil barons use vessel captains, crew members as guinea pigs

Ayo-Vaughan specifically dared Dokubo to provide evidence to substantiate his claim, disclosing that the latest operation by the service saved the country from losing N71bn to oil thieves as of June 2, 2023.

Tompolo's firm accuses Navy of shielding oil thieves

"How do you arrest oil thieves you claimed were using a wooden boat to steal crude oil, on land?

No money for constituency projects this year - SGF tells Senators

Lawal lamented that from production of 2.2m barrels of crude oil per day, it has dropped to an all time low of 800,000 barrels per day, a development he said was affecting budget implementation. "The statement is correct.

5 of Nigeria's largest exports by quantity

Petroleum oil and oils obtained from bituminous minerals, crude 82.50% N8,535.61 billion 2. Natural gas 9.82% N1,016.45 billion 3. Urea 1.06% N109.68 billion 4. Other petroleum gases 0.90% N92.95 billion 5.