Nigeria’s rig count rises by one, as OPEC’s declines by four
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 […]
Canadian heavy oil plugs gap left by OPEC, Latam
Canada’s struggling oil market has found something of a lifeline as traders scramble for heavy crude due to OPEC production cuts and sinking Latin American output.
Oil crash: Global oil industry lost $300bn in 2 years —OPEC scribe
SECRETARY-General of the Organisation of Petroleum Exporting Countries, OPEC, Mohammed Barkindo, has disclosed that the global oil and gas industry lost over $300 billion between 2015 and 2016 due to fall in oil and gas exploration and production spending
OPEC predicts oil glut in 2018
The Organisation of Petroleum Exporting Countries, OPEC, yesterday, said though its production increased in June, world demand for its crude will decline next year as rivals pump more, pointing to a market surplus in 2018, despite an OPEC-led output cut.
Decision to invite Nigeria, Libya to OPEC-Non-OPEC JTC meeting to be made over 2 Weeks – Novak
The decision on whether to invite Libya and Nigeria to a meeting of the Joint OPEC-Non-OPEC Technical Committee (JTC) to monitor the implementation of the oil output cut deal will be made within two weeks.
Nigeria records drop in rig count
Nigeria’s rig count has reduced by two as the total rig count for the month of May went down to 27 as against 29 recorded in April, latest data from the Organisation of Petroleum Exporting Countries, OPEC, shows.
Crude oil prices remain low as OPEC remains adamant on deeper output cut
CRUDE oil price seems to be settling at below $44 per barrel as expected recovery in the new week failed to happen after a consistent drop in the past two weeks to $43.14 average in early week trades. It tumbled from $45 a fortnight ago. The new low price recorded, yesterday, was attributed to the sustained excess supply and weak demand, as well as speculation that the Organisation of Petroleum Exporting Countries, (OPEC), was opposed to effecting deeper output cut.
OPEC’ll no longer stabilise oil market, Kachikwu warns US, others
We need to go back to that same long term modules; more importantly, we also need to begin to address IOCs in terms of what they need to do to help local refining
Nigerian Olusegun Adekunle appointed OPEC board Chairman
The Organisation of Petroleum Exporting Countries (OPEC) on Friday, announced the appointment of Mr Olusegun Adekunle as the Alternate Chairman of the Economic Commission Board.
OPEC appoints Nigerian Alternate Chairman Economic Commission Board
The Organisation of Petroleum Exporting Countries (OPEC) on Friday, announced the appointment of Mr Olusegun Adekunle as the Alternate Chairman of the Economic Commission Board.
Equatorial Guinea lauds Nigeria’s role in joining OPEC
Mr Gabriel Lima, the Minister of Mines, Industry and Energy of the Republic of Equatorial Guinea, has lauded Nigeria’s role in its recent admittance into the Organisation of Petroleum Countries (OPEC).
