Oil Prices Rises To $53 As Saudi Cuts Exports Oil prices rose on Thursday lifted by a sustained decline in inventories and Saudi Arabia’s preparedness to cut crude supplies to its prized Asian customers. Brent crude futures were 52.99 dollars a barrel by 0855 GMT, while US West Texas Intermediate crude was up 17 cents…
The Politics of Privatisation of Refineries
After several years of tinkering with privatisation of the nation’s ailing refineries, the government yields to pressure again to put the process on hold, creating room for more years of rot in the oil sector Investors who are prospecting for Nigeria’s moribund refineries may have to wait for a longer time for inexplicable reasons. In…