The Federal Government at the weekend stepped up efforts to curb the spate of petroleum pipeline vandalism that cost the nation an estimated $6 billion annually. Already, Minister of Petroleum Resources, Deizani Alison-Madueke has promised a robust and...

  Recent statistics and analysis have shown that the budget expenditure at the recurrent level, has increased astronomically since Nigeria returned back to  Civilian rule. A development that would obviously call for more frugality and caution. In...

Africa’s biggest crude oil producer’s currency the ‘naira’ declined in transaction by 0.4% to $157.4 as  at 4.30pm yesterday in Lagos the biggest since October 5. This according to Bloomberg has been rated the second-best performance   in Africa. It...

Oil fell from a seven-week high in New York on concern fuel demand may falter after Chinasignaled more economic weakness and analysts cut their profit forecasts for European companies at the fastest rate since 2009. Futures slid as much as...

Oil traded below $80 a barrel for a third day in New York after a report indicated that central banks will struggle to boost global economic growth, threatening demand for fuel. Futures slid as much as 0.6...

A Greek oil tanker hijacked by gunmen off the coast of Nigeria at the weekend has been released along with its 20-strong crew, the Greek coastguard told AFP Monday. The Liberian-flagged oil tanker Aegean Star owned by...

PT Pertamina, Indonesia’s state oil company, bought two cargoes each of Nigerian Qua Iboe from Gunvor SA and Escravos crude from Vitol Group, according to four people who participate in the West African crude market. The shipments are...