LAGOS APRIL 21S (NEWSRANGERS)-U.S. oil prices plummeted in historic fashion Monday, crashing below zero as traders unloaded positions ahead of the May contract’s Tuesday expiration. West Texas Intermediate crude oil futures for May delivery cratered by 305 percent to -$36.73 a barrel. At a price below zero, buyers would be paid to take delivery as there are costs…
LAGOS FEBRUARY 4TH (NEWSRANGERS)-The international oil benchmark, Brent crude, plummeted to its lowest level in more than a year on Monday, trading below the Federal Government’s benchmark for the 2020 budget, as the coronavirus outbreak hit fuel demand in China. The 2020 budget, which was signed by the President, Major General Muhammadu Buhari (retd.), in…
LAGOS DECEMBER 28TH (NEWSRANGERS)-Zambian President Edgar Lungu cut his salary and those of senior cabinet ministers Friday, as higher electricity and fuel prices take effect, his office said. The price of petrol gained 10 percent to 17.62 kwacha ($1.27) per litre on Thursday, while that for diesel fuel rose by 9.6 percent to 15.59 kwacha….
LAGOS DECEMBER 5TH (NEWSRANGERS)-Pirates boarded a fully loaded supertanker off the coast of Nigeria, an act that is sure to ring alarm bells for insurers about the risk of collecting oil from Africa’s biggest producer. Nineteen crew were kidnapped and remain missing, a spokeswoman for Navios, the ship’s owner said by phone Wednesday. The incident…
LAGOS NOVEMBER 11TH (NEWSRANGERS)-Vice Presidential Candidate of the Peoples Democratic Party (PDP) during the 2019 elections, Mr. Peter Obi, has decried the castigation of the youth as unproductive. Obi who described such act as uncharitable, challenged the government to first of all do for them what other countries do for their own youth before denigrating…
LAGOS NOVEMBER 5TH (NEWSRANGERS)-President Muhammadu Buhari Monday in London signed the amended Deep Offshore Act. According to the President, “Today is an important day for all Nigerians – but particularly the young generation. “Today I signed into law the amended Deep Offshore Act. Nigeria will now receive its fair, rightful and equitable share of income…
Former Governor of Anambra State and Vice Presidential Candidate of the Peoples Democratic (PDP) in the 2019 elections, Mr. Peter Obi, has advised the ruling government and others in the continent to invest more in innovation, creativity and education as the new and future wealth of the continent. He gave the advice while delivering the…
LAGOS OCTOBER 3TH (NEWSRANGERS)-Chevron is getting set to Leave Nigeria. Chevron is seeking to sell several Nigerian oilfields as part of a global drive to reshape its portfolio as it focuses on growing its U.S. shale output, banking and industry sources said. Chevron joins rivals including Exxon Mobil and Royal Dutch Shell in a drive…