The Nigerian Navy has foiled an attempt by oil thieves to exploit an abandoned well at Oke-Agor-Isekun, an island near the Ogun and Ondo states boundary. The commander in charge of the Naval Base ...
According to the Naval Base in Epe, Lagos State, under Navy Captain Solomon Ohunenese, the oil well in Ogun community was busted on Saturday. Operatives of the Nigerian Navy have uncovered an ...
In December 2023, the Foreign Exchange Management (Manner of Receipt and Payment) Regulations were updated to enable cross-border transactions in all foreign currencies, including the local currencies ...
Oil prices are quoted per barrel, or ‘bbl’. The abbreviation indicates one barrel of crude oil, but you may see Gbbl (one billion barrels), as well as Mbbl (one million barrels) or Kbbl for one ...
Many downstream companies also have operations in the midstream sector as well, allowing them to hold the inventory they ship. In some cases, crude oil production can lead to a transportation ...