Banks upbeat over rising oil prices

…NPLs likely to drop By FELIX OLOYEDE The recent rise in International oil prices has bumped up banker’s optimism in the reversal of their previous misfortunes resulting from large loan exposures to Nigeria’s Oil and Gas sector. Bankers, in growing numbers, are beginning to express considerable faith in a decline in their non-performing Oil sector More...

by Uchenna Ajah | Published 1 week ago
By Uchenna Ajah On Monday, June 11th, 2018

Rising Price of Crude: Mixed performance trail Oil and Gas companies

By OKEY ONYENWEAKU Contrary to investor expectations the Oil and Gas sector of the local stock market is failing to provide the market with the boost needed to shake it out of a bearish rut. Indeed, the sector seems More...

By Uchenna Ajah On Sunday, June 3rd, 2018

NNPC trashes rumour on N36b royalty to PH refinery hosts

Nigerian National Petroleum Corporation (NNPC) has dismissed rumours of an approved N36billion compensation said to be due to Alesa-Eleme community in Rivers State as royalty for playing host to the Port Harcourt More...

By Uchenna Ajah On Tuesday, May 29th, 2018

Buhari urges electricity DISCOs to wake up

President Muhammadu Buhari says his administration is committed to lawful interventions to ensure that operators in the business of electricity distribution, the DISCOs,  live up to expectations of Nigerians. President More...

By Uchenna Ajah On Tuesday, May 29th, 2018

Ajaokuta Steel firm 90% completed: Sole Administrator

The Sole Administrator of Ajaokuta Steel Company, Mr Sumaila Abdul-Akaba, has urged the Federal Government to release funds for the completion of the remaining 10 per cent of the steel complex. Reps against privatisation More...

By Uchenna Ajah On Friday, May 25th, 2018

Oil prices fall as Saudis await supply boost

Global oil prices fell Friday after top producer Saudi Arabia signalled a likely boost in supply as soon as the third quarter, and world stock markets were mixed over the sudden US move to cancel the summit with More...

By Uchenna Ajah On Thursday, May 24th, 2018

Reduction in oil production slows Nigeria’s economy

Nigeria’s economy grew slower than expected in the first quarter, official statistics showed Monday, with an expansion in oil production offset by a sputtering non-oil sector. The economy grew by 1.9 percent year-on-year More...

By Uchenna Ajah On Tuesday, May 8th, 2018

Oil prices reach highest level since 2014

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 More...

By Uchenna Ajah On Saturday, April 21st, 2018

Trump blasts OPEC as Saudis see oil price rise

Saudi Energy Minister Khaled al-Faleh said Friday the global market has the capacity to absorb higher oil prices, drawing a swift reaction from US President Donald Trump who accused OPEC of inflating prices. (FIles) More...