Nigeria released its official selling oil prices for May, showing a decrease for major grades-Bonny Light BFO-BON and Qua Iboe BFO-QUA, Forcados BFO-FOC and Escravos by around 20 to 25 cents compared with April. Buyers had been largely reluctant to…
Crown Refinery & Petrochemical Limited, a crude oil refining firm, has signed a Memorandum of Understanding with Ondo State government for the building of a $500 million refinery in Ilaje Local Government Area of the state. The plant is designed…
The plan by the Nigerian National Petroleum Corporation to grow the nation’s crude oil reserves to 40 billion barrels by the year 2020 received a major boost on Thursday with the execution of a tripartite agreement in Abuja. The agreement…
