crude oil

Oil prices rebounded on Friday from losses of more than 1% the previous day as investors turned cautiously optimistic over the fading risk of a U.S. debt default. Brent futures rose 59 cents, or 0.8%, to $76.45 a barrel...

May 18, (THEWILL) - Rising demand in China and the United States sent global oil demand surging by 3 million barrels per day (bpd) in March compared to February and hitting the highest level on record, data from the...

May 17, (THEWILL) – The Nigerian Navy Ship, NNS DELTA, has impounded a sewage disposal truck and a barge, MV Amangwu at Okpaka Community in Udu Local Government Area of Delta State. The Commander of NNS DELTA, Chindo Yahaya,...

May 16, (THEWILL) - Oil pollution in Bayelsa State was in the international focus on Tuesday, as the report of the state’s Oil and Environmental Commission (BSOEC), was launched at the House of Lords in London. The 211-page report...

May 09, (THEWILL) – Crude oil prices began Tuesday trade with a dip as traders brace up for the April inflation data, to be released on Wednesday, according to report by Oil Price.com The online oil business platform said...

April 19, (THEWILL) - The House of Representatives Ad Hoc Committee has threatened to summon the Attorney General of the Federation (AGF), Abubakar Malami, and other top government officials, over the alleged loss of $2.4 billion from the illegal...

April 05, (THEWILL) - The Senate has indicted the Nigerian National Petroleum Company Limited (NNPCL), for lack of transparency in crude oil lifted from its Escravos terminal to Warri Refinery and Petrochemical Company (WRPC), as well as the Kaduna...

March 29, (THEWILL) - The Federal Government has approved N59.7 billion for some projects in oil-producing communities in Rivers State. Minister of Environment, Mohammed Abdullahi, disclosed this to State House Correspondents at the end of the Federal Executive Council (FEC)...

March 23, (THEWILL) - Former militant leaders from the six states of the Niger Delta region have faulted the claims against crude oil pipeline operators and the Pipeline Infrastructure Nigeria Limited Company, PINL, over the alleged neglect of stakeholders...

When the IMF categorises resource-rich countries, it classifies the countries according to their export baskets. At least, twenty African countries including Nigeria, Angola, Ghana and Tanzania are classified as resource-rich, with their export base comprising a bulk of unprocessed...