Saudis see oil price on rise as Trump blasts OPEC
Saudi Energy Minister Khaled al-Faleh said Friday the global market has the capacity to absorb higher oil prices, drawing a swift reaction from US President Donald Trump who accused OPEC of inflating prices.
IMF reverses oil prices downward
Hopes of the Organisation of Petroleum Exporting Countries (OPEC) ever witnessing an oil price of $100 per barrels has been dimmed by the latest forecast from the International Monetary Fund (IMF), which expects crude oil prices to drop from the projected $62.31 per barrel to $58 a barrels in 2019.
OPEC loses $1 trillion investment in two years
The Organisation of the Petroleum Exporting Countries (OPEC) has said that more than a $1 trillion of frozen capex or cuts were recorded in 2015 and 2016.
Nigeria’s Brent crude crosses $72 mark, production hits 1.81mbpd
Nigeria’s Bonny Light crude oil price touched it’s highest since 2014 at the weekend, supported by Organisation of the Petroleum Exporting Countries (OPEC) led production cuts, and likelihood of the United States taking military action in Syria increases.
OPEC celebrates Nigeria’s oil industry in new bulletin
The Organisation of Petroleum Exporting Countries (OPEC) has dedicated the March edition of OPEC bulletin to celebrate Nigeria’s oil and gas sector.
Why reform must sustain Nigeria’s crude oil net producer, by Ajumogobia
The current reforms in the oil and gas sector that culminated into the passage of Petroleum Industry Governance Bill (PIGB) must sustain Nigeria status lest the country falls into Indonesia experience that led to its exiting Organisation of Petroleum Exporting Countries....
OPEC admits United States shale may crash oil price
The Organisation of Petroleum Exporting Countries (OPEC) has admitted for the first time that the growing crude oil output from the United States (U.S.) may threaten the price of crude oil despite efforts to rebalance the market. OPEC, in its monthly report yesterday, upgraded expected supply from non-members, saying that the output was surging beyond…
FG admits refineries not performing optimally, but…..
The Nigeria National Petroleum Company (NNPC) on Thursday admitted that the nation’s refineries in Warri, Kaduna and Port Harcourt are not performing optimally but that would be a thing of the past soon.
OPEC, stakeholders seek reliable oil, gas data, sue for transparency
The Organisation of the Petroleum Exporting Countries (OPEC), and stakeholders in the Nigerian oil and gas sector, Monday in Abuja, insisted that there was a need for the country to improve on data availability to support investment decisions and transparency. While OPEC admitted that Nigeria has made significant improvement in oil and gas related data…