Daily Archives: January 29, 2018

CIF: Ship owners lack financial muscle to lift crude – Stakeholders

  The new arrangement by the Federal Government to make indigenous ship owners participate in the lifting of Nigerian crude oil has come under attack of some stakeholders. According to them, local ship owners do not have enough vessels to compete effectively with their foreign counterparts. They argue that any effort geared towards changing the […]

NPDC targets 500,000 bopd

  The Nigerian Petroleum Development Company (NPDC), one of the upstream subsidiaries of the Nigerian National Petroleum Corporation (NNPC),  is to  increase its daily crude oil production to 500,000 barrels per day before 2022. The NPDC currently produces about 200,000 barrels per day and going by its work programme, it will increase to 300,000 barrels […]

Nigeria’s economy to be driven by oil revenue this year’

  A renowned economist and financial expert, Bode Agusto, has predicted that the nation’s economy will gain significant higher grounds this year, but will be driven by the crude oil market. According to him, though this would be possible because of the rise in oil price, which will oscillate between $60 and $80 per barrel, […]