OIL PRICES TODAY

WEDNESDAY – Brent Crude Oil: $81.64/BL (Up 0.28%) | Light Crude Oil: $72.13/BL (Up 0.29%) | Natural Gas: $3.26/MMBtu (Up 0.62%)

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Facts & Figures

$20

per barrel

Cost of producing crude oil in Nigeria. Down from $24 but still $5 above target. It costs averagely $10 in Saudi Arabia.

N170

PMS landing cost

Landing cost of petrol is N170 per litre while regulated pump price is N145 per litre.

N650bn

subsidy arrears

Amount owed to marketers by the federal government, according to DAPPMAN and MOMAN

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infograph_petro5

Data

LOCAL_INFOGRAPH FINAL2

Infographs

Learn Oil and Gas

with Animations

Oil and gas are generated from a source rock, organic matter buried in the depths of the earth. Once formed, they climb back towards the surface. On their way, cap rocks can impede their progress and they accumulate in reservoir rocks.

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