The Organisation of Petroleum Exporting Countries (OPEC) and the non-member countries of the organisation on Tuesday signed a draft `Charter of Cooperation’ in a bid to...
Prices of oil on Monday rose by one per cent despite tension in the Middle East and the supply cut by the Organisation of Petroleum Exporting...
Price of crude oil on Monday hit the highest since November 2018 to sell at $70.76 per barrel. This follows the ongoing oil supply cut by...
A survey by S&P Global Platts has revealed that Nigeria pumped 190,000 barrels per day of crude oil in February above its agreed quota under the...
Sentiments, speculation and rumours have been identified by the Organization of Petroleum Exporting Countries, OPEC, as some of the major determinants of developments in the global...
The prices of crude oil rose on Monday as hopes for an end to the year long tariff row between the United States and China approached...
The crude oil production cut deal agreed by members of the Organization of Petroleum Exporting Countries (OPEC) and its allies late last year has been implemented...
President Muhammadu Buhari has said Nigeria may consider cutting her crude oil output as a way of helping to shore up prices of the commodity at...
Nigeria’s crude oil production including condensate has taken a dip, falling to 1.999 million barrels per day in January from 2.081 million bpd in December, figures...
With expectations that the nation will increase its oil production, consolidated by price moderation efforts of the Organization of Petroleum Exporting Countries (OPEC), the Nigeria Extractive...
The implementation of Nigeria’s 2019 budget is faced by a fresh threat as crude oil production adjustment agreed by member countries of the Organisation of Petroleum...
The price of crude oil at the international market strengthened to $62.90 per barrel on Monday, a 20 cent increase from last weekend’s closing price. The...
Fears that Nigeria’s 2019 budget may suffer huge revenue short fall may be abetted as the prices of crude oil in the international market rebounded on...
The annual report of Moody’s Investors Service has predicted that prices of Oil and natural gas will be volatile in 2019. The report, which outlined key...
THE execution of Nigeria’s 2019 budget will likely encounter a serious threat as the price of Bonny Light, the nation’s premium oil grade, yesterday, hovered at...
The prices of crude oil again fell on Thursday after a marginal rally on Wednesday by more than one per cent. Prices had rebounded more than...
The Federal Government’s revenue target for the 2019 budget has again run into murky waters as the Organization of Petroleum Exporting Countries (OPEC) has cut Nigeria’s...
Nigeria’s 2019 Budget may face hiccups as the current crude oil prices in the international market has fallen below the Budget benchmark. On Monday, crude oil...
Except it attains a 100 per cent compliance with its new crude oil supply cut and count on continued production declines in Iran and Venezuela, the...
Prices of crude oil in the international market have rebounded after the most recent production cut deal reached by the Organization of Petroleum Exporting Countries (OPEC)...
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said the Organisation of Petroleum Exporting Countries (OPEC) did not grant Nigeria further exemption in...
The Organisation of Petroleum Exporting Countries (OPEC) may find it hard convincing Nigeria to accept a crude oil production cut, as the Minister of State for...
If delegates to Thursday’s meeting of the Organization of Petroleum Exporting Countries (OPEC) have their way, Nigeria and Libya would join in proposed crude oil production...
The prices of crude oil fell on Wednesday largely due to swelling supply glut and signs of an economic slowdown just a day before a crucial...
Prices of crude oil slumped on Tuesday at the international market, ending four days of price gains. The slump has been attributed to rising inventory in...
The United States (U.S.) is planning to secure a legislative power to sue member countries of the Organisation of Petroleum Exporting Countries (OPEC) as its worries...
Nigeria’s foreign exchange reserves have dropped by over $1 billion in the last five weeks, available data from the Central Bank of Nigeria (CBN) showed on...
The recent closure of the Trans- Forcados Pipeline (TFP) following the May 7, 2018, suspected explosion on the facility at the Diebiri-Batan community in Warri, South...
The Nigerian National Petroleum Corporation (NNPC) Sunday said it has appointed Mallam Mele Kyari, the Group General Manager in charge of its Crude Oil Marketing Division,...
Nigeria received pleasant news Friday when the joint Organisation of Petroleum Exporting Countries (OPEC) and the non-OPEC Ministerial Monitoring Committee (JMMC) took a decision to extend...
The Organisation of Petroleum Exporting Countries (OPEC) wants Nigeria to keep its daily oil output at 1.8 million barrels which is 400,000 barrels less than the...
Nigeria has survived a threat of withdrawal of exemption largess given it by OPEC in oil production cuts, as member countries agreed to extend the output...
Tension returns in Nigeria’s oil sector as the Organization of the Petroleum Exporting Countries (OPEC) member-countries re-gather on Thursday, 25 May 2017, at its headquarters in...
Nigeria loses an estimated $15 billion yearly from the non passages of the Petroleum Industry Bill (PIB). This is according to the United States Energy Information...
A relief of sort seems to have come the way of Nigeria, as the Organisation of Petroleum Exporting Countries (OPEC), despite a relative rise in price...
Even though global energy demand is expected to rise in 2017, Nigeria may not benefit from it except the country takes certain steps to ensure otherwise....
Libya, the only country exempted with Nigeria from OPEC crude oil cuts has pumped more supply of the products to the international market, a situation that...
There was palpable tension on Saturday within the Niger Delta region of Nigeria following a renewed threat by a volatile militant group, the Niger Delta Avengers...
Crude oil output from the United States has sent signals that hope of sustainable increase in price of crud oil in the first quota of 2017...
There was a surprise agreement amongst members of OPEC as they rose from the much awaited meeting in Austria with a resolution to find lasting solution...
Tension is mounting among member-countries of the Organization of Petroleum Exporting Countries (OPEC) as final preparations towards it Wednesday, November 30, 2016 meeting in Algeria reaches...
A fresh division among members of the Organization of Petroleum Exporting Countries (OPEC) has negatively affected oil at the international market. This is as member-countries’ outputs...
The much awaited meeting between OPEC members and non members of the oil producing cartel has led to another bout of oil price loss, making it...
In a bid to regain its lost impact on the international oil market, Nigeria has opted to slash the official selling price of the country’s crude...
In its desperation to get a willing buyer of its crude oil and gas, Nigeria has concluded arrangement to turn to China following reports that the...
Oil prices fell Friday despite decision of the Organisation of Petroleum Exporting Countries (OPEC) to cut production by 200,000-700,000 barrels per day (bpd). This is after...
Member-countries of the Organisation of Petroleum Exporting Countries (OPEC) suffered 4 percent loss in price of crude oil at the weekend following heightened disagreement between two major producing countries and arch rivals: Saudi Arabia and Iran. Foreign news cable said the two...
Oil prices rebound over the week at the International market as hope was rekindled that the planned meeting of the major crude producers will help control...
Records from the statistics unit of the Organisation of Petroleum Exporting Countries (OPEC) has indicated that Nigeria’s crude oil production suffered further drop in the month of August, compared with increased figures among its categories at the same period. OPEC’s monthly oil market report for September, which was...
Yet again, Nigeria was missing from major programmes by member-countries of the oil cartel, the Organization of Petroleum Exporting Countries (OPEC). This may be attributable...
