…Allegedly Funded Elections in 5 States; Kogi, A/Ibom, Bayelsa, Cross River, 1 Other State …How Funds were Allegedly Transferred to Diezani's Group, Others By The New Diplomat Political Intelligence Desk With attention fixed on how former controversial Petroleum Resources Minister, Diezani Allison-Madueke's business ally and promoter of Atlantic Energy Brass Development Limited and Atlantic Energy Drilling…
Europe Shakes Ahead Of Decision 'Dotun Akintomide With Agency Report Global oil prices took a deep after hitting a record high in 3 and half years on Tuesday as investors painstakingly await the announcement by President Donald Trump on whether the United States will re-impose sanctions on Iran. Trump said on Monday that a decision on…
U.S oil prices rose above $70 a barrel on Monday for the first time since November 2014 and Brent crude climbed to fresh highs, buoyed as a deepening economic crisis in Venezuela threatened the country’s already tumbling oil supply. Brent crude oil futures were at $75.59 per barrel at 0546 GMT, up 72 cents, or…
US oil producers are reaping the benefits of OPEC’s efforts to balance the crude market by flooding Europe with a record amount of crude, hurting traditional suppliers such as Nigeria. Russia paired with the Organization of the Petroleum Exporting Countries last year in cutting oil output jointly by 1.8 million barrels per day (bpd), a deal…
There are many opportunities for investment in Nigeria beyond the oil sector, the Minister of Budget and National Planning, Senator Udoma Udo Udoma, said in Washington DC, where he attended the Spring Meeting of the IMF/World Bank. While in Washington DC, the Minister had discussions with senior staff of the Fiscal Affairs Department of the…
'Dotun Akintomide with Agency Report OPEC Secretary-General, Mohammad Barkindo had said on Friday that the cartel was not seeking to artificially drive oil prices higher in spite of such claims made by U.S. President Donald Trump. It would be recalled that the price of crude oil Wednesday rose to $72 per barrel, its highest in more…
About 160 projects, with an overall estimated cost of some $ 156 billion, are being undertaken by members of the Organisation of the Petroleum Exporting Countries (OPEC ) in the oil and gas upstream sector. Besides, Nigeria, a member of OPEC, expects oil and gas investment to hit $ 40 billion in the next five…
By 'Dotun Akintomide After building the largest tank farm in Sub-saharan Africa, Petrolex Oil and Gas has revealed plans by the firm to pump about $5 billion into the economy of Ogun State. Petrolex will be constructing a 250,000 capacity refinery that would be housed by the mega oil city it is already building in…
There seems to be light at the end of the tunnel as far as getting a prepaid electricity meter is concerned as the Minster of Power, Works and Housing, Mr Babatunde Fashola says supply to consumers will improve following the approval of a new regulations for meter asset providers. Fashola said this on Sundy at…
