LAGOS NOVEMBER 25TH (NEWSRANGERS)-Ghana’s government is working on a new policy to buy oil products with gold rather than U.S. dollar reserves, Vice-President Mahamudu Bawumia said on Facebook on Thursday. The move is meant to tackle dwindling foreign currency reserves coupled with demand for dollars by oil importers, which is weakening the local cedi and […]
By Chief Malcolm Emokiniovo Omirhobo LAGOS DECEMBER 31ST (NEWSRANGERS)-The recent proposition of Former President Olusegun Obasanjo that Oil belong to Nigeria and not Niger Delta aroused my indignation to an unimaginable degree. I am angry not because I find his position to be very wrong and a bundle of falsehood but because he is deliberately […]
LAGOS JUNE 22ND (NEWRANGERS)-Nigeria’s economy could be leaning against the wind as the country’s external reserves fell to a 13-month low last week, tumbling quickly to $30 billion, the level it was between 2015 and 2017. Last Thursday, the figure slid to $33.79 billion, as it dropped by $30 million. This represented a 0.09% decline […]
LAGOS NOVEMBER 20TH (NEWSRANGERS)-The Nigerian National Petroleum Corporation on Thursday said the volume of crude oil discovered in Benue Trough was in commercial quantity. It said Nigerian geologists were spearheading efforts in the discovery of the commodity in the trough. The corporation’s Group Managing Director, Mele Kyari, disclosed this in a statement issued in Abuja […]
LAGOS JUNE 6TH (NEWSRANGERS)-Vice Presidential Candidate of the Peoples Democratic Party in the 2019 election, Mr Peter Obi, has described as a curse, Nigeria’s total dependence on oil revenue which, he said, has stopped people from critical thinking and innovating new ways to diversify the economy and generate more revenue. Obi made this known while […]
By Okioma Amos LAGOS APRIL 30TH (NEWSRANGERS)- The disparity in the volume of oil spill from Shell’s field at Angiama community in Southern Ijaw Local Government Area in Bayelsa has cause disagreement amongst parties investigating the incident. Although the March incident has been traced to equipment failure, by corrosion, investigations indicate that the Joint Investigative Visit […]
LAGOS APRIL 21S (NEWSRANGERS)-U.S. oil prices plummeted in historic fashion Monday, crashing below zero as traders unloaded positions ahead of the May contract’s Tuesday expiration. West Texas Intermediate crude oil futures for May delivery cratered by 305 percent to -$36.73 a barrel. At a price below zero, buyers would be paid to take delivery as there are costs […]
LAGOS FEBRUARY 4TH (NEWSRANGERS)-The international oil benchmark, Brent crude, plummeted to its lowest level in more than a year on Monday, trading below the Federal Government’s benchmark for the 2020 budget, as the coronavirus outbreak hit fuel demand in China. The 2020 budget, which was signed by the President, Major General Muhammadu Buhari (retd.), in […]
LAGOS DECEMBER 28TH (NEWSRANGERS)-Zambian President Edgar Lungu cut his salary and those of senior cabinet ministers Friday, as higher electricity and fuel prices take effect, his office said. The price of petrol gained 10 percent to 17.62 kwacha ($1.27) per litre on Thursday, while that for diesel fuel rose by 9.6 percent to 15.59 kwacha. […]
LAGOS DECEMBER 5TH (NEWSRANGERS)-Pirates boarded a fully loaded supertanker off the coast of Nigeria, an act that is sure to ring alarm bells for insurers about the risk of collecting oil from Africa’s biggest producer. Nineteen crew were kidnapped and remain missing, a spokeswoman for Navios, the ship’s owner said by phone Wednesday. The incident […]
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