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DPR warns depot owners, oil marketers against diversion, price hike

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The Department of Petroleum Resources in Cross River has warned depot owners and marketers to desist from diversion of product, saying that anyone caught...

Police arraign businessman for being in possession of stolen jet oil

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The police on Wednesday arraigned a 33-year-old businessman, Obi Ugwuoke, in Magistrates’ Court in Kuje, FCT for allegedly being in possession of stolen 19...

Oil falls on weak Chinese industrial data

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Oil prices fell on Monday after strong gains last week as data released in China reinforced signs that its economy is slowing, though progress...

Oil prices steady, on track for large weekly gain

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Oil prices steadied on Friday and were on track for strong weekly gains as support from a surprise draw in U.S. inventories and possible...

Eni’s oil output hits third-quarter record with more to come

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Energy group, Eni, achieved its highest ever oil and gas production rate for a third quarter, softening the blow of lower quarterly earnings because...

Oil slips below $61 as weak demand outlook weighs

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Oil slipped below 61 dollars a barrel on Thursday as concern over the demand outlook offset a surprise drop in U.S. crude inventories and...

Orji Kalu denies cutting oil deals in Venezuela

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Senator-elect for Abia North Senatorial District, Orji Kalu, has denied cutting oil deals during his recent visit to oil-rich state, Venezuela. Kalu was on Monday hosted...