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Port Harcourt Refinery Rehabilitation May Gulp N615bn

By Abiola Olawale (The New Diplomat's SouthWest Bureau) The Federal Executive Council(FEC) on Wednesday approved the sum of $1.5 billion for the rehabilitation of the...
Business

Malabu Scandal: Milan Court Acquits Shell, ENI

Agency Report -- A Milan court on Wednesday acquitted energy companies ENI and Shell in Nigeria’s oil industry’s biggest corruption scandal. Also acquitted by the...
Business

How Oil Could Go To $100 Per Barrel

By Steven Kopits In its February Short Term Energy Outlook (STEO), the EIA forecasts this month's world oil consumption at 96.7 million barrels per day (mbpd)....
Business

PPPRA Template: No Plan To Increase Fuel Price — Sylva Affirms, Apologises

By Abiola Olawale The Minister of State for Petroleum Resources, Chief Timipre Sylva, has debunked the announcement contained in a template released by the Petroleum...
Business

Oil Flirts With $70 After The OPEC+ Surprise

Brent is now flirting with the $70 mark after OPEC+ shocked markets once again by refusing to bring more oil production online. Oil skyrocketed on Thursday after...
Business

Oil Hits 14-month High After OPEC+ Extends Output Cuts

Oil prices jumped more than 2% on Friday, hitting their highest in nearly 14 months after OPEC and its allies agreed not to increase...
Business

PIB: Omo-Agege, Sylva, Amaechi, Keyamo, Others To Speak At Bill’s Colloquium

From Segun Amure, (The New Diplomat's Abuja Bureau) Deputy Senate President, Senator Ovie Omo-Agege,  Minister of State for Petroleum Resources, Timipre Sylva, Minister of Transport,...
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