Business

Saudi Crown Prince Mohammed bin Salman is the actual buyer of a painting of Jesus by Leonardo da Vinci that sold for a record-breaking $450 million at auction last month, The Wall Street Journal reported Thursday. The young crown prince, known by his initials MBS, used an intermediary to buy the much-sought-after painting of Christ, […]

OPEC and other oil-producing states could set quotas on oil production for Nigeria at 1.8 million barrels per day and for Libya at one million barrels per day, Oman’s Minister of Oil and Gas Mohammed Rumhi said, on Thursday. Later in the day, the oil and energy ministers of all the parties to the oil […]

Oil prices rose on Thursday ahead of an OPEC meeting in Vienna at which producers are expected to extend a supply-cut deal that came into effect in January with the goal of tightening supplies and propping up prices. The Organisation of the Petroleum Exporting Countries (OPEC) will be meeting at its headquarters in the Austrian […]

The Independent Petroleum Markers Association of Nigeria, Lagos State chapter, has accused the Nigerian National Petroleum Corporation of undersupplying its members with Premium Motor Spirit. It said if the situation persists, its members in Lagos State and parts of Ogun State may be forced to shut their filling stations by December 11. In a statement […]

At a time that international crude oil market is getting more competitive, the Hungarian Government has indicated interest to purchase crude oil and Liquefied Natural Gas (LNG) from Nigeria. The Hungarian Ambassador to Nigeria, Professor Gabor Ternak, who disclosed this during a courtesy call on the Group Managing Director of the Nigerian National Petroleum Corporation […]


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