Wale Edun Dad’s Delegation to Saudi-Arabia Saudi EXIM Bank Keen on Collaborating with Nigerian Institutions for Future Transactions Nigeria Request $5 Billion Trade Loan In a move aimed at fostering stronger economic relations, Nigeria and Saudi Arabia are taking steps to enhance export credit, insurance frameworks, and market access between the two nations. Eko Hot … Read more
Nigeria’s Ademola Adeyemi-Bero has been appointed as Nigeria’s Governor for Organisation of the Petroleum Exporting Countries (OPEC), as well as the Chairman of the OPEC Board of Governors for 2025. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said his appointment was confirmed at the 189th meeting of the OPEC Conference. In a … Read more
The Organisation of Petroleum Exporting Countries, OPEC, has blamed tax imposition by major oil-consuming countries, not oil prices as the primary driver of fuel costs. Secretary General of the organization, Haitham Al Ghais disclosed this in a recent statement. His comments are coming as Nigeria experienced several petrol pump price hikes last year. EDITOR’S PICKS: … Read more
The price of Brent crude oil has dropped below $70 per barrel for the first time since December 2021, raising concerns about a global economic slowdown. This steep decline in oil prices is expected to put additional pressure on the Nigerian naira, which has recently depreciated to N1,600 per US dollar. EKO HOT BLOG gathered … Read more
Eko Hot Blog reports that Crude oil price on Monday increased to $87 per barrel — highest since October 2023. Brent crude increased by 0.56 percent to $87.54 a barrel while US West Texas Intermediate (WTI) crude rose 0.79 percent, to $83.83 percent, at 20.00 WAT. Editor’s Picks Naira Maintains Streak, Appreciates To 1,250/$ JUST … Read more
Presidency Vows To Name ‘Big Men’ Behind Oil Theft EKO HOT BLOG reports that the Senior Special Assistant to President Muhammadu Buhari on Media and Publicity, Malam Garba Shehu, has said the federal government would soon reveal the identities of important personalities behind oil theft in the country. Shehu said that as part … Read more
OPEC Sec-General, Muhammad Barkindo Is Dead The outgoing Sec-Gen died at about 11p.m on Tuesday at the aged 63 EDITOR’S PICK: Police Recover Unexploded IEDs At Owo Church Owo Church Attack “Targeted At Turning Yorubaland Into A War Zone” – Ooni Of Ife [JUST IN] Owo Massacre: Tinubu Extends Philanthropic Gesture, Donates N75m To Victims, … Read more
Dollar to Naira exchange rate today 30 September 2021, black market rate can be accessed below. EKOHOTBLOG has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates. How Much Is Dollar To Naira Exchange Rate Today Official Rate? … Read more
Dollar To Naira Exchange Rate Today 29 September 2021 (Black Market Rate) can be accessed below. EKOHOTBLOG has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates. How Much Is Dollar To Naira Exchange Rate Today Official Rate? September 29 dollar … Read more
Naira has continued to gain at the official window despite a 2.4% drop in Dollar supply. EKOHOTBLOG reports that the exchange rate between the naira and the US dollar closed at N414.50/$1, at the official Investors and Exporters window. Naira appreciated against the US dollar on Tuesday, to close at N414.50/$1, representing a 0.08% … Read more
Crude oil prices surge on Thursday after the OPEC+ alliance resolved to keep production unchanged, indicating the potential of an even tighter market next month. At the time of writing this report, the U.S. West Texas Intermediate (WTI) crude rose 4.91 at $64.31, while Brent Crude, the international benchmark, was up by 5 per cent … Read more
OPEC, Congratulates Okonjo-Iweala You May Also Like OPEC’s January Oil Production Rises The Organisation of Petroleum Exporting Countries (OPEC), has congratulated Dr Ngozi Okonjo-Iweala, on her appointment as the Director-General of the World Trade Organisation (WTO). The OPEC Secretary-General, Dr Barkindo Mohammad, disclosed this in a congratulatory message made available to the News Agency of … Read more
OPEC The Organisation of Petroleum Exporting Countries (OPEC’s) crude oil production increased by 160,000 barrels per day (bpd) in January as the non-member countries called OPEC+ alliance is easing the output cuts in the first month of the year, it was gathered at the weekend. OPEC’s production is estimated to average 25.75 million bpd in … Read more
Minister of Information and Culture, Lai Mohammed, yesterday, cast blames on the Organization of Petroleum Exporting Countries (OPEC) as the major player responsible for the slowdown of the economy. According to the minister, “Nigeria recorded positive economic developments in 2020, but these seem to have been overshadowed by the country’s recession. As you are all … Read more
OPEC The Organisation of the Petroleum Exporting Countries (OPEC) sees plenty of downside risks for oil markets in the first half of 2021, Mohammad Barkindo, its Secretary-General said on Sunday. Barkindo’s remark is coming a day before meeting allies, led by Russia, to discuss output levels for February. “Amid the hopeful signs, the outlook for … Read more
After months of downward spiral, oil prices are rebounding and, on Friday, inching close to their highest level since March. The development is coming against the backdrop of major producers agreement to ease their oil output cuts next year more gradually than previously planned — giving a delicate market more time to absorb the extra … Read more
OPEC The Organisation of Petroleum Exporting Countries (OPEC) has projected 6.2 million barrel per day (bpd) growth in oil demand in 2021. The OPEC Secretary General, Mohammad Barkindo, disclosed this in his address at the Crescent Ideas Forum on Monday via video conference. “Our OPEC outlook for 2020 oil demand is now slightly above 90 … Read more
Oil fell by the most since 1991 on Monday after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling demand because of the coronavirus outbreak. Brent crude futures fell by as much as $14.25, or 31.5%, to $31.02 … Read more
OPEC The Organisation of Petroleum Exporting Countries (OPEC) on Thursday, agreed to another cut in production adding up to 1 million barrels per day, bpd, among its fourteen members while anticipating Russia and its allies under the OPEC+ cartel to tow a similar path by bringing production down by half a million bpd. OPEC said … Read more
The Organisation of Petroleum Exporting Countries (OPEC) is eyeing extensions of its oil production cuts until the end of 2020, but talks are still in early stages, Russian news agency TASS reported, citing an OPEC source. The source said that OPEC is set to meet in March, but might meet in June as well to … Read more