Oil

Nova Merchant Bank Limited has asked a Federal High Court in Lagos to place a lien on the assets of Midwestern Oil and Gas Company Limited with the Central Securities Clearing System…

Russia’s top lawmaker, Vyacheslav Volodin warned the European Union on Wednesday that his country may expand the basket of exports priced in roubles. It already told EU countries that want its natural gas to pay in…

Wokers of Addax Petroleum Development Nigeria Limited under the umbrella of Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, commenced indefinite strike on Monday over alleged impunity by the management of the…

The job loss scare rocking Total Exploration and Production (E&P) Nigeria Limited at the weekend degenerated, worsening the disagreement between the oil major and its workers’ union. New Telegraph gathered at the weekend that …

Amid bitter disagreements with business partners Amid the raucous of commerce and evilly disposed strife, former billionaire, Wale Tinubu, shuffled his way to the love of art. He recently bought two wonderful artworks from Peju…

Oil prices rose more than two per cent on Monday, supported by a rebound in the stock market as trade war between the United States and China eased. Brent crude futures rose  to settle at 68.65 dollars a barrel. Brent prices gained…

JP Morgan Chase has acknowledged it knew that a former Nigerian Minister of Petroleum Resources, Mr. Dan Etete, would benefit when it transferred over $800 million proceeds from the sale of Oil Prospecting Lease (OPL) 245 to a company…

As oil prices maintain a sustained recovery averaging $57 per barrel with consequent increase in oil revenue distributed monthly to the federal, states and local governments, the Central Bank of Nigeria (CBN) has warned of the…

The government of Switzerland has blocked several bank accounts in the country linked to the planned bribery trial of Eni and Shell executives in Milan, Italy, as it relates to the infamous Malabu oil scam. On Monday, the office of…

Bahrain on Sunday announced it has discovered the largest oil and gas field in the history of the small kingdom, which unlike its Gulf neighbours is not energy-rich. Authorities estimate the newfound reserves at “many times” the…