• Niger Delta stakeholders back probe of NDDC by National Assembly

    Niger Delta stakeholders back probe of NDDC by National Assembly0

    Some stakeholders in the Niger Delta have commended the National Assembly for its decision to investigate alleged fraud in the Niger Delta Development Commission (NDDC). The stakeholders under the aegis of the Transparency and Accountability Advancement Group (TAAG) said it was heartwarming that the National Assembly was going to probe the humongous scam in the

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  • BREAKING: Oil price crashes to $33, loses $11 in hours

    BREAKING: Oil price crashes to $33, loses $11 in hours0

    The international oil benchmark, Brent crude, which stood at $45.72 per barrel on Sunday, has slumped to $33 per barrel. Oil prices suffered an historic collapse overnight after Saudi Arabia shocked the market by launching a price war against onetime ally Russia. Brent, against which Nigeria’s crude is priced, fell by $11.62 to $33.45 as

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  • Oil prices jump after reports on coronavirus drug

    Oil prices jump after reports on coronavirus drug0

    Oil prices jumped by four per cent on Wednesday on media reports that scientists had developed a drug against the fast-spreading coronavirus, an outbreak that continues to weigh heavily on global economic activity and oil demand. The World Health Organisation played down the media reports, saying there were “no known effective therapeutics” against the virus.

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  • Oil prices fall on weak global economic data

    Oil prices fall on weak global economic data0

    Oil prices fell on Wednesday on weak global economic data and a rise in the US crude inventories, almost erasing the previous session’s strong gains which followed the United States’ move to delay tariffs on some Chinese products Brent crude was down $1.81, or three per cent, at $59.49 a barrel at 1323 GMT, after

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  • Buhari spends N851.4bn on Joint Venture oil assets in 5 months

    Buhari spends N851.4bn on Joint Venture oil assets in 5 months0

    The Federal Government, through the Nigerian National Petroleum Corporation, spent a total of N851.38bn ($2.79bn) on joint venture oil and gas assets in the first five months of 2019. The government has said it will reduce its stakes in the JV assets to 40 per cent this year but no time frame has been announced.

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  • Oil Prices Drop As Traders Wait For G20, OPEC Meetings

    Oil Prices Drop As Traders Wait For G20, OPEC Meetings0

    Oil prices fell on Thursday to erase some of the previous session’s strong gains, as traders wait for the G20 summit in Japan and for a meeting of OPEC and other crude producers to decide on an extension of output cuts. Brent crude futures were down 42 cents, or 0.6 per cent, at 66.07 dollars

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