Despite innovations, there are indications that oil and gas would continue to dominate the global energy mix, at least in short and medium term. Consequently, many nations, including African countries have resolved to invest massively in oil and gas exploration and production, targeted at making new finds, increasing reserves and production capacity to guarantee commercial supplies to domestic and global market.

US oil producers are reaping the benefits of OPEC’s efforts to balance the crude market by flooding Europe with a record amount of crude, hurting traditional suppliers such as Nigeria

OPEC Secretary-General Mohammad Barkindo said Friday that the cartel was not seeking to artificially drive oil prices higher in spite of such claims made by U.S. President Donald Trump.

Mohammad Sanusi Barkindo, Secretary General, Organisation of Petroleum Exporting Countries, OPEC has described the late Dr.  Alirio Parra, former Energy and Mines Minister of Venezuela as a true OPEC pioneer and great oil industry innovator.

The Organisation of Petroleum Exporting Countries (OPEC), has commended Nigeria for ranking third among member countries in data submission.

The prices of Bonny Light, Nigeria’s premium oil grade and others have leaped in excess of $70 per barrel in the international market as the Organisation of Petroleum Exporting Countries, OPEC continue to enforce its oil cut compliance.

Singapore – Oil prices were firm on Wednesday, receiving ongoing support from healthy economic growth as well as from supply restrictions led by a group of producers around the Organisation of the Petroleum Exporting Countries (OPEC) and Russia.

The global oil market was very unstable in 2017, as a result of many factors, especially over-supply, speculation and politics, thus causing anxiety in major oil producing nations such as Nigeria, Algeria, Angola, Ecuador, Equatorial Guinea, Gabon, Islamic Republic of Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, United Arab Emirate and Venezuela.

By Sebastine OBASI NIGERIA’S rig count for the month of November, 2017, increased by one, as the country recorded 29 as against 28 recorded in the month of October of the same year. This was contained in the latest data of the Organisation of Petroleum Exporting Countries, OPEC. This is a bit cheery compared to OPEC […]

The Federal Government of Nigeria has started making concerted efforts targeted at attracting foreign and local investors to invest in the nation’s oil and gas industry.

Despite recent improvements in crude oil trade at the International market, Nigeria, Angola, Iraq and other OPEC countries, recorded a fall in oil output by 300,000 barrels per day, bpd, in November.

An Oil and Gas Industry Analyst, Dr Shamsudden Musa said the agreement by Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC to extend further, the production cut agreement would enhance global economic stability.

OPEC will debate this week whether to cap oil output from Nigeria and Libya, which have so far been excluded from supply curbs due to falling production amid unrest, two sources with knowledge of the matter said on Wednesday.

OPEC will debate this week whether to cap oil output from Nigeria and Libya, which have so far been excluded from supply curbs due to falling production amid unrest, two sources with knowledge of the matter said on Wednesday.

 OPEC Secretary-General Mohammad Barkindo said on Thursday there is no doubt that in the wake of efforts by global oil producers to curb production, the crude market is rebalancing, and doing so at an accelerating pace.