Oil

Brent Crude Oil Futures - Today's data summary

% change
+0.79%
Price dollars per barrel
80.16
Change
+0.63
As of 04:52 28 Sep 2021

WTI Crude Oil Futures - Today's data summary

% change
+0.86%
Price dollars per barrel
76.10
Change
+0.65
As of 04:52 28 Sep 2021

Latest updates

  1. Video content

    Video caption: Life at 50C: The toxic gas flares fuelling Nigeria's climate change

    Joy and her family are among 2m Nigerians living within 4km of a gas flare in Nigeria's oil-rich south.

  2. Fossil fuels

    Video content

    Video caption: Fossil fuels are the ancient remains of trees and sea creatures that are used as a fuel.
  3. Oil and gas boost for Nigeria as laws overhauled

    Ishaq Khalid

    BBC News, Abuja

    An oil rig in Nigeria

    The Nigerian parliament has approved a long-awaited bill seeking to overhaul the country’s oil and gas industry.

    Nigeria's economy relies heavily on revenue from fossil fuels and the ambitious law is expected to dramatically change Nigeria’s oil sector, by boosting foreign investment and revenue as well as loosening government control of the state oil company.

    It’s also expected to change the terms of royalty payments by multi-national oil companies and boost oil and gas exploration across the country.

    According to the Reuters news agency, the share of generated wealth allocated to oil-producing communities is set to double.

    The controversial bill took more than a decade in parliament before today’s passage. But its final approval will be a remarkable success for President Muhammadu Buhari’s government which reintroduced the bill last year.