Author: Daniel Terungwa

No Rise in PMS Prices- NNPC Ltd. Ensures Nigerians The Nigerian National Petroleum Company (NNPC) Ltd. has reassured the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol. NNPC Ltd. urges Nigerians to disregard unfounded rumors and assures them that there are no plans for…

Navy Denounces Allegations of Complicity in Oil Theft The Nigerian Navy Headquarters has criticized reports from certain media platforms that are critical of its efforts in combating crude oil theft and other illegal activities in Nigeria’s maritime sector. The condemnation suggests that the Navy is displeased with the portrayal of its actions in these reports…

APA Completes $4.5 Billion Permian Deal, Acquiring Callon Petroleum APA Corporation is set to acquire Permian oil and gas producer Callon Petroleum Company in an all-stock transaction valued at approximately $4.5 billion, including Callon’s net debt. This move adds further momentum to the ongoing merger and acquisition activity in the U.S. shale sector. Callon’s assets,…

Nigeria Set to Achieve 2 Million Barrels Daily Oil Production in 2024 Nigeria is aiming for a crude oil production target of at least two million barrels per day in the 2024 fiscal year, surpassing its OPEC+ quota of 1.38 million. The OPEC+ coalition, led by Saudi Arabia and including allies like Russia, had reduced…

Anticipated Inflows from Borrowing Predicted to Drive Naira Recovery in 2024 There is optimism for Nigerian households as analysts project a potential relief for the lingering pressure on the naira, particularly in the second quarter of 2024. The basis for these projections lies in the anticipated inflows from external borrowing, donor support, as well as…