Oil prices have witnessed a slight rebound after dropping below $50 a barrel–the first time it has reached that level since October 2017.
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Oil prices are on a two-year high with Brent crude peaking at $60.80 down from $60.91 per barrel on Tuesday. Nigeria’s budget benchmark for 2017 is $44.50 per barrel. Reuters reports
No fewer than 313 mining companies have been sanctioned by the federal government over non-fulfilment of environmental obligations. Salim Salaam, the director, mines environmental compliance department, ministry of mines and
Niger Delta Avengers are said to be currently responsible for rising crude oil prices on the global market. The militants group has cut Nigeria’s supply drastically, reducing global oversupply. The
Two oil firms, Mid Oil and South Atlantic Petrochemical Company, have sent proposals to the Lagos State government towards establishing
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