Business & Finance

Fed Govt cuts costs of registering businesses

Oct 9, 2013

To encourage local and foreign investors, the Federal Government has slashed the cost of registering businesses by half. The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, told the Brazilian Deputy Minister of Development, Industry and Foreign Trade Mr. Richardo Schaefer, who led a 19- man delegation to his office yesterday that the new registration regime…

Read More

Despite insecurity, crude theft, Nigerian economy remains strong – IMF

Oct 9, 2013

Notwithstanding the insecurity in the northern part of Nigeria and crude oil theft, which has negatively affected the nation’s revenue base, the International Monetary Fund (IMF) has rated the nation’s economy as still strong. The IMF’s positive rating came only a day after the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi…

Read More

OPEC daily basket price stood at $106.45 a barrel Monday, 7 October 2013

Oct 8, 2013

The price of OPEC basket of twelve crudes stood at 106.45 dollars a barrel on Monday, compared with $106.94 the previous Friday, according to OPEC Secretariat calculations .  The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait…

Read More

Brent rises above $110, demand outlook cloudy

Oct 8, 2013

Brent crude oil rose above 110 dollars a barrel on Tuesday. Gains were, however, likely to be short-lived given an improved oil supply outlook and cloudy prospects for demand due to the U.S. budget crisis. Analysts said oil could be gaining from the withdrawal of most financial investors who wanted to sell. Upward pressure on…

Read More

Equities shed 0.2% as Forte Oil leads gainers

Oct 8, 2013

Trading in equities closed on bearish note on the Nigerian Stock Exchange yesterday, following sell- offs from prospective investors. Specifically, the All Share Index depreciated 0.19 per cent to close at 36,805.10 points, as against the rise of 0.26 per cent recorded on Friday to close at 36,925.82 points. Market capitalisation shed N22bn to close…

Read More

APC governors tackle NNPC over oil revenue

Oct 8, 2013

The 11 governors of the All Progressives Congress (APC) under the aegis of the Progressive Governors’ Forum Monday challenged the Nigerian National Petroleum Corporation (NNPC) to reveal the total oil revenue realised by the country since January 2013. The governors, who were responding to Monday’s statement by the corporation that it did not owe the…

Read More

“Nigeria not broke”, Okonjo-Iweala insists

Oct 8, 2013

The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, Monday insisted that the economy was not broke, even as she assured Nigerians that the country has been meeting all its obligations. The finance minister expressed concern over the negative remarks on the state of the economy in the past one year.…

Read More

OPEC daily basket price stood at $106.94 a barrel Friday, 4 October 2013

Oct 7, 2013

The price of OPEC basket of twelve crudes stood at 106.94 dollars a barrel on Friday, compared with $106.79 the previous day, according to OPEC Secretariat calculations . The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light…

Read More

Brent slips towards $109

Oct 7, 2013

Brent futures edged down towards $109 a barrel on Monday as oil production resumed in the Gulf of Mexico after a tropical storm, while lingering concerns over the U.S. government shutdown clouded the outlook for demand. Tropical Storm Karen had prompted producers to shut in nearly two-thirds of oil output in the Gulf of Mexico.…

Read More

Oil, others to drive investments in Lekki Free Zone

Oct 7, 2013

Investments in the Lekki Free Zone (LFZ) will be focusing on key areas such as oil and gas, real estate, infrastructure, transportation, and electronic home appliances among others, an investment guide for the LFZ has said. The guide said investments projects in LFZ would comply with the industrial policies, laws and regulations of Nigeria. It will also…

Read More

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...