• 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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