Oil | NEWS RANGERS

Sallah Message: Obi Decries Youths Castigation, Says Oil’ll Not Save Nigeria

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 […]

Nov 11 2019 | Posted in National | Read More »

President Buhari Signs Amended Deep Offshore Act In London

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 […]

Nov 5 2019 | Posted in National | Read More »

Peter Obi: Nigeria’s Wealth Lies In Innovation, Creativity, Not Oil

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 […]

Nov 3 2019 | Posted in National | Read More »

Chevron Set To Leave Nigeria, Seek To Invest In Shale In Mexico,Texas

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 […]

Oct 30 2019 | Posted in Business,National | Read More »

NNPC Announces Discovery Of Crude Oil In Northern Nigeria

LAGOS OCTOBER 12TH (NEWSRANGERS)-The Nigerian National Petroleum Corporation (NNPC) has announced the discovery of hydrocarbon deposits in the Kolmani River II Well on the Upper Benue Trough, Gongola Basin, in the North-Eastern part of the country. It would be recalled that drilling of the Kolmani River II Well was flagged-off in a colourful ceremony by […]

Oct 12 2019 | Posted in National | Read More »

Oil Price Drops Sharply As Saudi Output Seen Returning Soon After Attacks

LAGOS SEPTEMBER 17TH (NEWSRANGERS)-Oil prices dropped sharply on Tuesday after a top Saudi Arabian source told Reuters production could be fully back on line within weeks, quicker than initially thought following weekend attacks that cut halved the kingdom’s output. Saturday’s attacks raised the specter of a major supply shock in a market that in recent […]

Sep 17 2019 | Posted in Business,International,National | Read More »

Dollar Falls As Oil-Exporter Currencies Rise After Saudi Attacks

LAGOS SEPTEMBER 16TH (NEWSRANGERS)-The dollar fell while safe havens and currencies of oil-producing countries rallied on Monday, following an attack on Saudi Arabian refining facilities that disrupted global oil supply and heightened Middle East tensions. Oil prices surged nearly a fifth at one point following the strikes on two plants, including the world’s biggest petroleum […]

Sep 16 2019 | Posted in Business,National | Read More »

Oil Hits 4.5% In Six-Week As Storm Builds In Gulf Of Mexico

LAGOS JULY 11TH (NEWSRANGERS)-Oil prices rose 4.5% a barrel on Wednesday to their highest level in more than a month after U.S. crude inventories shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm. Brent crude futures settled at $67.01 a barrel, up $2.85, or […]

Jul 11 2019 | Posted in Business,National | Read More »

Trump’s Tariff Threats Against China Triggers Slump In Oil Prices

LAGOS MAY 6TH (NEWSRANGERS)-Oil prices tumbled on Monday after U.S. President Donald Trump said he would sharply hike tariffs on Chinese goods this week, risking the derailment of trade talks between the world’s two biggest economies. U.S. West Texas Intermediate (WTI) crude futures were at $60.57 per barrel at 0646 GMT on Monday, down $1.37 […]

May 6 2019 | Posted in National | Read More »

Nigeria 2019 Budget In Trouble As Oil Price Crashes To $49

LAGOS DECEMBER 28TH (NESRANGERS)-More indications that the implementation of the 2019 financial estimates presented to the National Assembly by President Muhammadu Buhari, a couple of weeks ago, may be difficult emerged yesterday as oil price slumped to $49.9 before it recovered to $51 later in the day. The slide was the lowest since July 2017 […]

Dec 28 2018 | Posted in National | Read More »