Oil up 1 percent as market focuses on supply risks

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NEW YORK (Reuters) – Oil prices rose 1 percent on Tuesday, as fighting in Libya and falling Venezuelan and Iranian exports raised concerns over tightening global supply, but uncertainty surrounding an OPEC-led production cut limited gains. Read more

Minimum wage, others to trigger rise in inflation rate

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Analysts in the financial sector have projected that the signing of the new minimum wage bill, a hike in energy tariffs and ongoing planting season would trigger a rise in monthly inflation rate in April, May and June this year even as inflation rate for March 2019 slowed down to 11.25 percent. Read more

NNPC reduces joint venture indebtedness to $3.5bn.

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The Nigerian National Petroleum Corporation, NNPC, yesterday said that it has reduced joint venture cash call indebtedness to international oil companies to $3.5 billion. Read more

Nigeria’s daily crude production in 2018 stood at 2.019 million barrels – NNPC

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The Nigerian National Petroleum Corporation (NNPC) says that the national average daily crude oil production stood at about 2.019 million barrels in 2018. Read more

Kachikwu Attributes Fuel Queues To Logistics Gap

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Dr Ibe Kachikwu, Minister of State, Petroleum Resources, says the queues at filling stations is as a result of logistics challenges and has nothing to do with petrol scarcity. Read more

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