Oil pares gains as investors wait to see if coronavirus stimulus works
Oil prices rose on Thursday but pared early gains as investors tried to assess how effective massive stimulus by central banks will be in shoring up the global economy as the shock from the coronavirus pandemic deepens. Bucking panic selling…
Rosatom’s subsidiary earns $7bn from electricity sales in 2019
Largest power generating group in Russia and Rosatom subsidiary tasked with operating Russian nuclear power stations, Rosenergoatom Thursday announced that its revenue reached a record $7.01 billion (453.3 billion roubles) in 2019. Statistics further showed that within the period under…
FG frustrating self in oil bidding rounds with non-passage of PIB—Fawibe
Seasoned oil and gas technocrat with long years of experience at the NNPC and current CEO of International Energy Services Limited, Dr. Diran Fawibe has linked collapsing international investment interests in the nation’s oil and gas sector to the observed…
Oil still below $30 on global coronavirus impacts
Oil prices steadied on Wednesday after slipping to new four-year lows, sapped by fears for fuel demand and the global economy amid travel and social lockdowns triggered by the coronavirus epidemic. Brent crude LCOc1 was up by 34 cents, or…
Just in: FG slashes fuel pump price from N145 to N125
The Federal Government Wednesday afternoonbegan move to slash the pump price from N145 to N130 first and later down to N125 to reflect the current global oil price relaities. The move was in consideration of the fact that Nigerian pump…
Legislate on generation, distribution of power not ban on generators, NECA tells NASS
The Director-General of Nigeria Employers’ Consultative Association (NECA), Dr. Timothy Olawale, has described the proposed bill to criminalise the importation, selling and usage of generators by Nigerians as a clear move to kill surviving businesses in the country. In a…
How sinking oil price exposed impacts of herdsmen on agro export, diversification
Rewinding back to May 29, 2015 when the current administration of President Muhammadu Buhari was first inaugurated, there were high hopes of strategic diversification of the economy that will be powered by agro-revolution. Virtually every state and community geared up…
Bill criminalising casualisation strategic for oil and gas industry— NUPENG
As the Bill seeking to amend the Labour Act to criminalise casualisation of workers in Nigeria at the National Assembly enters its crucial stage, major stakeholders’ who are likely to gain more from the law when assented have started called…
With less than $5 to produce a barrel of oil, price crash can’t hit S’Arabia as Nigeria
Recent sustained drop in global prices of crude oil have once again, resurrected the economics of cost of crude oil production in Nigeria and beyond. Recall that the former Minister of State, Petroleum Resources, Dr Ibe Kachukwu had assured Nigerians…
Can naira recover from round-tripping over falling oil price?
Activities at the nation’s foreign exchange market last week may continue to hold negative sway this week as Coronavirus-indicted oil price record low of $35 which further crashed dollar to N420 is still a global issue. Recall that the Nigerian…
