Tagged: Oil

Oil Trader Fraud 0

Oil Trader Remanded Over Alleged $149,950 Fraud

An Ikeja Special Offences Court on Tuesday remanded an oil trader, Barnabas Akojie, at the Ikoyi Prisons in  Lagos, following his arraignment for allegedly defrauding a business partner of $149,950. The News Agency of...

Oil 0

Oil Moves Toward $85 As Iran Sanctions Loom

Brent crude oil prices hit their highest level since November 2014 on Monday ahead of U.S. sanctions against Iran that kick in next month. Brent sweet crude oil futures rose to as much as...

Oil Iran 0

Iran’s Supply Shortfall Jacks Up Oil Prices

Oil prices rose by nearly 1 percent on Thursday, driven by the prospect of a shortfall in global supply once U.S. sanctions against major crude exporter Iran come into force in just five weeks’...

Crude Oil 0

BP, Vitol Clash Over Nigerian Crude Oil

Oil major BP has clashed with rival Vitol in the Nigerian crude market, buying up cargoes and taking a big derivative position that may have raised costs for European refiners, according to Reuters. New...

Oil 0

Magufuli Accuses Oil Firms Of Profiteering

President John Magufuli of Tanzania has accused the international oil and gas companies of seeking huge profits at the expense of the country’s development. The president accused the international oil companies following the collapse...

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NCDMB Raises $200m For Oil Sector

The Nigerian Content Development and Monitoring Board (NCDMB) has raised $200 million to facilitate local content development in the oil sector. The board had the statutory mandate of promoting Nigeria content development, especially in...

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Nigeria Set To Lose 550,000 Barrels Of Oil By ExxonMobil

ExxonMobil said  a blockade by former employees threatens crude production at oil facilities in Nigeria, adding that “disruptions to these operations have the potential to significantly impact revenues.” The company made the announcement in...

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Denmark Now Net Importer Of Oil

Denmark will presently  have to get used to being a net oil importer according to  figures released by Denmark’s energy agency Energistyrelsen. It said that  2017 was the last year when more oil was...

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$200m Fund Ready For Oil, Gas Companies

Nigeria’s $200 million single digit interest intervention fund is now ready to support local companies in the oil and gas industry. The designed was designed a year ago by the Nigerian Content Development and...