Oil prices soared and stocks sank today after Israel launched strikes on Iranian nuclear and military sites and warned of more to come, stoking fears of a full-blown war. Investors ran for the hills on news of the attacks and a warning from Tehran that its regional foe faced a “bitter and painful” fate, while […]
•John Mahama Ghana’s President John Mahama yesterday urged global firms to ramp up crude oil production in the West African nation before the global shift to renewable energy renders the resource worthless. He warned that Ghana risks seeing its oil resources stuck in the ground if drilling is not fast-tracked while demand still exists, reports...
Nigeria’s oil revenue is being threatened by the decline of oil prices below $60 per barrel, reaching levels reminiscent of the devastating downturn experienced during the peak of the COVID-19 pandemic. Brent crude, global oil price, fell by 5.09 percent to $59.62 per barrel at 12.30 PM WAT while US West Texas Intermediate fell by […]
Asian equities collapsed on a black Monday for markets after China hammered the United States with its own hefty tariffs, ramping up a trade war many fear could spark a recession. Trading floors were overcome by a wave of selling as investors fled to the hills on the worst day for equities since the pandemic, […]
Just two days after over 90 people were burnt to death in a tanker explosion that also left scores injured in Niger State, residents massed around another fallen truck in another community. The fresh incident occurred in Bida town on Monday. In a widely circulated video online, young persons were seen milling around the broken […]
•President Paul Kagame of Rwanda Rwanda said today it had made its first oil discovery, with confirmation of 13 reservoirs in Lake Kivu, which makes up part of its border with DR Congo. “The good news is that we have oil,” Francis Kamanzi, CEO of the Rwanda Mines, Petroleum and Gas Board, told a parliamentary […]
•Crude oil When the oil wells of the Niger Delta finally dry up or global demand fades, what will become of the millions whose livelihoods depend on the region’s black gold? This question was repeatedly raised during Civil Society Organisations (CSOs) gathering in Uyo, Akwa Ibom State today as they painted a stark picture of […]
The Joint Task Force South-South, Operation Delta Safe (OPDS), has restated its commitment to securing the pipelines, saying Nigeria’s crude oil production has hit 1.7m barrels per day (bpd). This information was disclosed in a statement signed by the Coordinator (OPDS) Joint Media Campaign Centre Major Kayode Owolabi. He disclosed that follow...
•Crude oil With Nigeria’s oil production consistently failing to meet budget benchmarks and allotted OPEC quotas, the industry’s regulators and operators have come under severe pressure to fix the hostile operating environment that has seen both investors and international contractors move away from the country. Against the backdrop of the OPE...
•NNPC boss, Mele Kyari The Nigerian National Petroleum Company Limited says it has declared a state of emergency on oil production. It said this was a move towards increasing Nigeria’s crude oil production and growing its reserves. Group Chief Executive Officer of NNPCL, Mele Kyari, disclosed this in a keynote address at the opening of [&helli...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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