•Dangote refinery The domestic crude oil supply crisis that recently led to accusations and denials in the oil sector may warrant an investment plunge in the industry, operators declared yesterday. According to operators at the Lagos Chamber of Commerce and Industry, the crisis may damage the confidence of International Oil Companies and inves...
•Rising oil prices Oil prices surged more than three percent in early Asian trade today following unconfirmed reports of explosions in Iran, Syria and Iraq, sparking fears of an escalation of the Middle East crisis. West Texas Intermediate jumped 3.66 percent to $85.76 and Brent rose 3.44 percent to $90.11. The reports come after a […]...
Stock markets fell and oil prices climbed today on growing fears of a wider war in the Middle East after Israel’s army chief vowed a response to Iran’s unprecedented attack on his country at the weekend. The selling came after Wall Street’s three main indexes tanked in response to forecast-beating US retail sales data that […]
•Seriake Dickson Senator Seriake Dickson representing Bayelsa West in the National Assembly has alleged that bigwigs from Lagos and the Federal Capital Territory, Abuja, are masterminds of the oil theft on Niger Delta soil. The lawmaker, who has been in the red chamber since 2020, was a guest on Channels Television last night. Dickson, a [&hel...
The major downstream marketers under the aegis of the Major Energies Marketers Association of Nigeria, (MEMAN), have said that the country’s petroleum products distribution and supply chain may face more challenging complexities going by current foreign exchange market intricacies. The Executive Secretary of the Association, Clement Isong spok...
In a determined bid to deal ruthlessly with oil thieves, Tantita Security Services Ltd (TSSL) dragged owners of two ships , MT Kali and MT Harbor Spirit it arrested recently with her crew before two high courts sitting in Abuja where it was ordered that the two bunkering ships be forfeited to the federal government. […]
Troops of the Nigerian Army 6 Division, Port Harcourt have uncovered over 40 dug out crude oil wells in Rumuekpe community, Emohua Local Government Area of Rivers State. The wells which are about 40 feet deep are said to be the latest technique criminals employ in stealing crude oil from underground in the area, reports […]
•Tinubu The Nigeria Employers’ Consultative Association, NECA, has advised the federal government to eschew pride and review the removal of fuel subsidy and the floating of nation’s currency, the naira, warning of looming unemployment crisis, particularly with the current harsh economic situation. 4 NECA’s position came on a day oil marketers,...
•Tinubu Oil marketers under the aegis of the Natural Oil and Gas Suppliers Association of Nigeria, NOGASA, have pleaded with President Bola Tinubu to peg the exchange rate of the Naira to the Dollar at the 2024 Budget benchmark of N750/dollar. NOGASA President, Mr. Benneth Korie told journalists in Abuja constant devaluation of the Naira [&hel...
•Dollars The Central Bank of Nigeria (CBN) has stopped international oil companies from repatriating 100% foreign exchange proceed to their mother companies overseas. The Director of Trade and Exchange Department at the apex bank, Hassan Mahmud, made this known in a circular dated February 14, 2024. … developing storyÂ
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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