Oil rises after Saudis, Russia agree supply cut to be extended

Russia's Energy Minister Alexander Novak and Saudi Arabia's Energy Minister Khalid al-Falih

Oil prices jumped 1.5 percent on Monday after the energy ministers of the world’s two biggest producers Saudi Arabia and Russia jointly said that a crude production cut would be extended from the middle of this year until March 2018. Brent crude was at $51.58 per barrel at 0621 GMT, up 74 cents, or 1.46 […]

12 ships discharging petrol, others – NPA

Seventeen ships are discharging petroleum products and other commodities at Apapa and Tin-Can Island ports in Lagos, the Nigerian Ports Authority (NPA), said on Friday. NPA explained that they were discharging buck wheat, petrol, general cargo, containers, salt, gypsum, bulk fertiliser, diesel, bulk sugar and bulk corn. 29 others laden with petroleum products, food items […]

Nigerian University spent N30m on electricity in March


Prof. AbdulGaniyu Ambali, the Vice-Chancellor, University of Ilorin, on Tuesday said the university spent over N30 million on electricity in March. Ambali disclosed this in Ilorin when he received members of the newly inaugurated Executive Council of the Postgraduate Students Association (POGSASS), in his office. He informed the POGSASS executives that it had invested heavily […]

Saudi Arabia and Russia signal oil-cuts extension into 2018

Some OPEC members also said to have discussed deepening curbs Producers seek to enhance deal amid doubts about effectiveness Saudi Arabia and Russia signaled they could extend production cuts into 2018, doubling down on an effort to eliminate a supply surplus just as its impact on prices wanes. In separate statements just hours apart on […]