crude – InfoStride News

Oil rises, stocks swing as peace talk hopes wobble

Temitope Nlewemchi — Sat, 09 May 2026 14:15:54 +0000

Global oil prices climbed while equity markets fluctuated as uncertainty around international peace negotiations unsettled investor sentiment, reflecting renewed volatility across energy and financial markets. Crude oil markets reacted to shifting geopolitical expectations, with traders closely monitoring developments linked to ongoing diplomatic discussions in key conflict regions. Hopes of a breakthrough in peace talks initially [...]

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Firm builds terminal to cut crude evacuation cost

Temitope Nlewemchi — Wed, 25 Feb 2026 17:22:30 +0000

A firm has recently completed the construction of a new terminal designed to significantly cut the costs associated with the evacuation of crude oil. This development marks an important milestone in the oil and gas sector, as it promises to optimize the logistics of crude oil transportation, improve efficiency, and reduce operational expenses for producers [...]

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Excess crude account: FG earmarks N16.1 billion monthly to settle states’ N1 trillion debts

Temitope Nlewemchi — Sat, 20 Apr 2024 05:17:15 +0000

The Federal Government has set aside N16.1 billion monthly for the settlement of N1 trillion debts owed by state governments. The money, which is in the form of debt swap, will be paid over eight years to resolve the debts incurred by states from bailout facilities. This initiative represents a structured approach to mitigate states’ financial burdens, with [...]

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Forex Crisis Poses Threat to Modular Refineries with N25 Billion Daily Crude Input

Temitope Nlewemchi — Mon, 26 Feb 2024 12:12:54 +0000

The ongoing forex crisis in Nigeria is emerging as a significant threat to the operations of modular refineries, potentially impacting their ability to maintain a daily crude input valued at N25 billion. The Infosride delves into the details of the forex challenge faced by modular refineries, the potential consequences for daily crude processing, and the [...]

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Almost 100% Of Documents In Crude Sale Transactions Are Not Original – NNPC

David Folami — Sun, 24 Sep 2017 07:58:03 +0000

The Nigerian National Petroleum Corporation (NNPC) has issued a stern warning to oil buyers that about 98% of all documents involved in the sale of crude oil were not original. This disclosure was made by the corporation’s Group General Manager, Crude Oil Marketing Division, Mele Kyari sometime this week. He said, “The entire public should [...]

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Navy Seizes 810,725 Tonnes Of Stolen Crude

David Folami — Thu, 02 Feb 2017 01:07:24 +0000

The Nigerian Navy, on Wednesday, February 1 said that it seized 810,725 metric tonnes of stolen crude in 2016. It said is has also seized were 1,078,104 metric tonnes of illegally-refined diesel and destroyed 181 illegal refineries during the same period. The Navy put the financial worth of the seized crude oil and diesel at [...]

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Total Shuts Obagi Field As Oil Spill Ravages Niger-Delta Again | #Nigeria

Wale Adebayo — Wed, 19 Aug 2015 06:34:02 +0000

Total E&P Nigeria Ltd (TEPNG) said it has stopped exploration of crude on its Obagi-Rumuekpe 12 Oil Export Pipeline in Rivers State following an oil spill. The company suspects the spill was caused by pipeline sabotage. This will be the second time in a matter of months that the pipeline will be attacked, the first [...]

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EFCC Arraigns Man for Forgery of Crude Oil Export Documents

Adewale A. — Thu, 21 Nov 2013 09:18:00 +0000

The Economic and Financial Crimes Commission on Tuesday, November 19, 2013 arraigned one Franklin Uche before Justice G.K Olotu of the Federal High Court, Maitama on a 6 – count charge bordering on forgery and conspiracy to defraud. The accused allegedly forged Export Clearance Permit, a document usually issued by the Ministry of Trade and [...]

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