AGS NEWS – Crude oil exports contributed N14.56 billion, or 74.98% of Nigeria’s total exports in the second quarter of 2024, according to the National Bureau of Statistics (NBS). The NBS report, released Wednesday, revealed that the country’s total merchandise … Continue reading Crude oil contributed N14.56bn to Nigeria’s exports in Q2 – Report
AGS NEWS – President Bola Tinubu’s approval for selling crude oil to the Dangote Petroleum Refinery in naira is expected to lower the prices of locally refined petroleum products, according to oil marketers and experts. Industry operators praised the decision, … Continue reading Tinubu orders naira crude sale to Dangote, marketers project price crash
AGS NEWS – Nigeria’s crude oil production experienced a continuous decline in February and March 2024, resulting in an estimated loss of about N720 billion in revenue. The country’s failure to meet its crude oil production benchmark set in the … Continue reading Nigeria loses N720bn due to reduced crude production in two months
The Shell Petroleum Development Company of Nigeria Limited has announced the successful completion of the supply of 475,000 barrels of crude oil to the Port Harcourt Refining Company Limited. This initiative is in alignment with the Federal Government’s commitment to … Continue reading Shell delivers 475,000 barrels of crude oil to Port Harcourt refinery
Numerous oil blocks managed by international and local oil companies under Production Sharing Contracts (PSC) with the Nigerian National Petroleum Company Limited (NNPC) remained non-producing or inactive, according to the latest Oil and Gas Industry Report for 2021 released by … Continue reading 23 oil blocks fail to produce crude – FG
Brent, the international benchmark for crude oil, surged to $84 per barrel on Wednesday, leading to speculations that Nigeria may experience another hike in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, in the coming weeks. … Continue reading Crude oil hits $84 per barrel
The House of Representatives has summoned Attorney-General Abubakar Malami and Minister of Finance, Zainab Ahmed, in relation to a $2.4 billion revenue probe concerning the alleged illegal sale of 48 million barrels of crude oil export from 2014 to 2015. … Continue reading Finance minister, AGF, Accountant General summoned over alleged $2.4 billion crude oil fraud probe
Nigeria is seeing a surge in oil earnings following improvements in security in the Niger Delta region. According to figures obtained from the Federal Ministry of Petroleum Resources, the country’s oil production rose by 1.014 million barrels per day in … Continue reading Nigeria’s crude oil earnings rose above 300 billion naira in just three months. Read full story!
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