Nigerian govt takes delivery of two new locomotives at ENL Terminal

Vincent Toritseju 28 July 2017, Sweetcrude, Lagos — The Nigerian Government yesterday took delivery of two double-end drivers’ cabin standard gauge locomotive engines from the Peoples Republic of China. The Managing Director of Nigeria Railway Corporation, NRC, Fidet Okhiria, who took delivery of the engines on behalf of the Minister of Transportation, Rotimi Amaechi, said […] More »

Financial market products & services update

28 July 2017, Sweetcrude, Lagos — The local and international financial market products and services update. NIGERIA: The naira yesterday appreciated to N362.29 per dollar in the Investors and Exporters (I&E) window due to a sharp increase in dollar supply. Data from Financial Market Dealers Quote (FMDQ) showed that the volume of dollar traded in […] More »

OPEC daily basket price close at $48.88/b

28 July 2017, Sweetcrude, Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $48.88 a barrel on Thursday, compared with $48.51 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial […] More »

Govt can’t confirm how many NNPC workers were kidnapped by Boko Haram

Kachikwu, however, described as welcome development the report of some rescue of victims, adding that an official confirmation from the military authorities in line with established protocol, is awaited. More »

Fed govt. halts oil exploration in Lake Chad Basin after Boko Haram attack on oil workers

“But if NNPC cannot do its job because of criminality, it portends danger that the economy would grind to a halt. Further activities of the corporation in the Basin will be based on sufficient security in the area,” he said. More »

Community contractors to get Content Fund at 5% interest rate- NCDMB

The intent is to promote the participation of genuine community contractors in oil and gas projects and integration of communities in the industry value chain as part of the strategy to grow the local economy and promote peace and tranquility in the communities. More »

Oil marketers fault EFCC over N328.9billion recovery, says reconciliation on-going

“Further investigation into the allegation also revealed that the oil marketers had continued to obtain petroleum products from the government without proper payment, in violation of the NNPC/PPMC credit facility regulations." More »