Oil Export Archives — City Business News

March 31, 2023 No Responses

Edo Refinery Targets $125m Per Annum From Export

The Edo Refinery and Petrochemical Company (ERPC) Limited, operators of the 6000bpd Modular Refinery in Ologbo, Ikpoba Okha Local Government Area, is making about $125m per annum from the export of naphtha, one of the products from its plant. The...

April 3, 2022 No Responses

OPEC+ Meeting In Focus

By Lukman Otunuga, Senior Research Analyst At FXTM — OPEC+ is set to meet this afternoon to determine output levels for May. The cartel is widely expected to stick to its existing deal to gradually increase oil production. Any surprises...

March 16, 2022 No Responses

Nigeria Generates $3b From Non-Oil Export Products In 2021

The Nigerian Export Promotion Council (NEPC) has said that the country exported non-oil products worth 3.45 billion U.S dollars in the 2021 fiscal year. Executive Director of the NEPC, Mr Ezra Yakusak, who disclosed this while speaking at a seminar...

February 23, 2022 No Responses

Fidelity Bank Restates Support For CBN FX Repatriation Push, Sensitizes Customers In Non-Oil Exports Emerging Opportunities

Fidelity Bank Plc has reaffirmed its commitment to actively support the Central Bank of Nigeria’s (CBN) efforts to achieve its goal of $200 billion in Foreign Exchange (FX) repatriation from non-oil exports over the next five years. The Executive D...

April 22, 2021 No Responses

Oil Prices Drop As Covid-19 Surge Dents Demand Outlook

Oil prices fell for a second day on Wednesday, weighed down by concerns that surging COVID-19 cases in India will drive down fuel demand in the world’s third-biggest oil importer.Brent crude futures for June declined 95 cents, or 1.4%, to $65.62...

February 2, 2021 No Responses

Oil Prices Rise As Producers Commit To Output Restraint

Oil prices rose around 1 per cent on Tuesday after major producers showed they were cutting crude output in line with their commitments on restraint, supporting a market thrown out of kilter by weak demand during the coronavirus pandemic.Brent crude ...

August 24, 2020 No Responses

Nigeria Earns $378.42m From Crude Oil, Gas Export

The Nigerian National Petroleum Corporation (NNPC) has announced a total crude oil and gas export earnings of $378.42 million in June, as against $133.16 million it posted in May 2020. The corporation disclosed this in its June Monthly Financial and...

June 9, 2020 No Responses

BP To Cut 10,000 Jobs As Coronavirus Hits Demand For Oil

BP has announced plans to cut 10,000 jobs following a global slump in demand for oil because of the coronavirus crisis. The oil giant had paused redundancies during the peak of the pandemic but told staff on Monday that around...

April 14, 2020 No Responses

Shell Resumes Oil Export From Forcados Oil Export Terminal

Shell Petroleum Development Company of Nigeria Limited (SPDC) on Monday said it has resumed oil exports from the Forcados Oil Export Terminal. NAN reports that SPDC halted exports on April 4 over ‘unforeseen circumstances’ in its operations. Mr Michael Ada...