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Oil price hits $56 as supply shrinks

Oil price rose above $56 per barrel on Tuesday due to Saudi Arabia’s plan to limit supply offsetting worries that rising coronavirus cases globally would curtail fuel demand.

NNPC adopts 3rd party oil, gas projects financing

In a bid to heighten and expand exploration activities and implore revenue generation, the Nigerian National Petroleum Corporation (NNPC) says it will focus on adoption of third-party financing of oil and gas development projects.

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Eterna shareholders to sell stakes to new investor

In a statement obtained from the Nigerian Stock Exchange, Eterna Plc announced that some of its shareholders will sell equity holdings in the company to a new investor. The company disclosed that the sale was driven by some of its substantial shareholders. It said the new investor intended to undertake due diligence exercise on the company…

Nigeria spends N1.62tn on petrol imports

The latest data obtained from the National Bureau of Statistics have shown that Nigeria spent a total of N1.62tn on the importation of Premium Motor Spirit (petrol) from January to September.
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