Posts Tagged ‘Oil’
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NNPC: $750m oil stolen in 2019

by Seun Adeuyion February 19, 2020
Nigeria lost about $750m to crude oil theft in 2019, the Nigerian National Petroleum Corporation (NNPC) has said. The Group Managing Director, NNPC, Mallam Mele Kyari, who disclosed this on Tuesday, decried the growing activities of oil thieves and pirates which he described as a threat to the operations of the corporation. Kyari spoke to […]

OPEC waiting for Russia before deciding how much oil to cut

by Breaking Timeson December 6, 2018
The Organisation of the Petroleum Exporting Countries has made a planned cut in oil output effectively conditional on the contribution from non-OPEC producer Russia, delegates said on Thursday as the group gathered in Vienna for a meeting aimed at supporting battered oil prices. Five delegates said the group was waiting for news from Russia as […]

World's Fastest Growing Economy, Ghana, Oil

Ghana More Prudent With Oil Revenue, Set To Be World’s Fastest Growing Economy

by Breaking Timeson March 12, 2018
For efficiently deploying its oil revenue to grow other sectors of the economy, including agriculture, Ghana has been tipped to become the world’s fastest growing economy in the next few years. According to the International Monetary Fund (IMF), in 2018, Ghana’s projected growth is between 8.3 and 8.9 percent, with only Bhutan, a South Asian […]
Oil Price, $74 Per Barrel, 4 Years

Cost Of Producing A Barrel Of Oil Now $20 – NNPC

by Breaking Timeson March 6, 2018
The Nigerian National Petroleum Corporation, NNPC, Monday, March 5, 2018, said its cost of producing a barrel of crude oil from Nigeria’s oil fields has further dropped to $20, adding that it was targeting to lower it further to $15 per barrel soon. It also said it would ensure that all the pipes to be […]

Dangote Refinery, Set to be Africa’s Biggest, Takes Shape

by Breaking Timeson October 15, 2017
The completion of Dangote Refinery in 2019 will mark another milestone in the Nigerian oil and gas industry as it holds the prospect of stopping the importation of refined petroleum products by Nigeria. The Dangote Refinery will produce 650,000 barrels per day of refined petroleum products to meet all the country’s refined petroleum products needs. […]

Oil Price keeps Rising, Hits all year $58pbd High

by Breaking Timeson September 26, 2017
The prices of crude oil hit a new 2017 high Monday, continuing a rally fuelled by improving demand and expectations that the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC producers will extend output cuts. The International benchmark, Brent crude rose $1.52, or 2.7 per cent, to $58.38 per barrel, surpassing the highest level of […]