NEWS

Oil Prices Rise Monday On Supply Deficit Concerns

Crude oil prices moved into positive territory Monday ahead of the start of trading in New York amid growing concerns about a...

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Oil Will Remain In High Demand For Long, Kachikwu Says

Dr. Ibe Kachikwu, Nigeria’s Minister of State for Petroleum Resources says despite talks about new forces coming into the market, oil will...

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NNPC Considering Capital Market To Fund Projects

The Nigerian National Petroleum Corporation (NNPC) says it is considering approaching the Capital market to fund its new projects, Dr Maikanti Baru,...

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OPEC Oil Output Rise In June As Saudi Pumps More

Oil output from the Organization of the Petroleum Exporting Countries (OPEC) rose in June as Saudi Arabia pumped at a near-record rate,...

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EITI: Eddie Rich Becomes Interim Head Of Secretariat As Moberg Resigns

The former Deputy Head of the Extractive Industries Transparency Initiative (EITI) International Secretariat, Eddie Rich is now the interim head of the...

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NNPC, JV Finalize $724m Schlumberger Oil Finance Deal For OML 83, 85

…Nigeria to earn $5.60bn in taxes, royalties One year after signing the tripartite term sheet for the financing and technical services arrangement...

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Focus More On Visible Impacts In Member Countries, Nigeria Tells EITI

Nigeria has called on the global Extractive Industries Transparency Initiative (EITI) to shift its current priorities to the pursuit of visible impacts...

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Oil Not Found In Commercial Quantity In Bida Basin, NNPC Chief Says

Nigeria’s national oil firm chief, Dr. Maikanti Baru, Saturday, said that crude oil has not been found in commercial quantity in Bida...

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Netherlands Becomes 51st EITI Implementing Country

The Netherlands, Wednesday, became the 51st Extractive Industries Transparency Initiative (EITI) implementing country. This followed the EITI’s Board approval of The Netherlands...