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Rising oil prices bodes well for the Nigerian budget, given its benchmark price for crude-oil for the 2021 fiscal year.
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Some of the lease winners include: Matrix Energy, AA Rano, Andova Plc, Duport Midstream, Genesis Technical, Twin Summit, Bono Energy, Deep Offshore Integrated, Oodua...
Analysts had predicted a draw of 2.114 million barrels for the week.
The firm didn’t offer any information about how it plans to structure the deals or pay for the stakes.
The market breadth closed positive as OKOMUOIL led 15 Gainers, and 17 Losers topped by CWG at the end of the day’s session.
Sunrise Power had, on October 10, 2017, dragged Nigeria to arbitration at the court seeking a $2.354 billion award for “breach of contract”.
Rising oil prices bodes well for the Nigerian budget, given its benchmark price for crude-oil for the 2021 fiscal year.
This was disclosed by CEO, Ben van Beurden on Tuesday, at the Company’s annual meeting.
The revenue to be earned by Nigeria has come under further threat due to India’s drop in crude oil importation.
According to the Central Bank of Nigeria’s annual report for 2018, Nigeria’s excess crude account fell from $2.45 billion in 2017 to $480 million...
Stephen Innes, Chief Global Market Strategist at Axi, gave key insights on the macros holding oil prices around $60 per barrel.
Over the past decade, Shell’s Nigerian onshore joint venture SPDC has sold about 50% of its oil assets.
Enyo was established in 2017 as a downstream energy player and is majorly owned by Folawiyo Energy, a notable player in the oil and...