Nigeria’s Oil Output Plummets To 900,000b/d.
According to statistics provided by direct sources, Nigeria’s crude oil production decreased from 1 million barrels per day in July…
Category: Commodities
Saudi Arabia Surpasses Russia To Become India’s No. 2 Oil Supplier.
The third-largest oil importer and consumer in the world, India, imported 863,950 barrels of petroleum per day (bpd) from Saudi…
Senate Opens An Investigation Into Niger Delta Oil Theft.
Nigeria suffered significant financial losses as a result of the widespread theft of its crude oil; and it was unable…
Oil Exploration In Nigeria Begins To Decline As Rig Count Falls.
The global upstream sector of the petroleum industry (OPEC) uses the rig count; as a key indicator of exploration and…
Nigeria’s Oil Production Falls To A Record Low Of 972,394 Bpd.
In comparison to July 2022 output of 1. 08 million barrels per day, the decrease is more than 10%, and…
Nigeria FG Intends To Enhance Gas Exports To Europe in 2022.
08, August, 2022 the price of Brent, the world’s standard for petroleum, decreased by 5.01%, or $4.65, to close at…
Oil Prices Fluctuate Due To Russian Supply Concerns And Economic Troubles.
Oil prices varied drastically as the market tried to balance demand concerns; about the impending recession with fears that Russia…
Oil And Gas Equities In Nigeria In August 2022.
For the ninth straight quarter, the oil industry has seen negative growth, shrinking once more in Q2 2022 by -11.8%…
Nigeria FG To Take Production Data From Oil Companies And Installs New Flow Meters.
Nigeria has wasted billions of dollars in potential revenue due to underreported volumes by relying solely on operator data; not…
Fuel Shortage Is Coming as IPMAN Poses a Supply Threat.
The chairman, Alhaji Yahaya Alhassan, announced the suspension of supply of the commodity from the depot. He made this announcement…
Prices Of Oil Increase By More Than $2.
Investors were anticipating probable actions by OPEC+ producers to reduce output and support prices, which led to an increase in…
Russia’s Oil Production Is Limited by The World’s Richest Nations With Brent Crude At $95 Per Barrel.
The black viscous hydrocarbon prices increased as traders anticipated that OPEC+ would discuss output cuts at their meeting on September…
Nigeria Generated N799bn Oil Revenue In Q1 2022 Down By 28% – CBN
The Central Bank of Nigeria (CBN) says the country generated N799.10 billion from oil sector in the first quarter of…
This Decade’s Oil Boom Is Moving Offshore – Way Offshore.
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long…
Dangote Refinery Gets 300,000 Barrels/day From NNPC.
The Nigeria National Petroleum Corporation Limited will have the first right of refusal to supply the Dangote refinery with about…
Oil Prices Climb 1% As U.S. Fuel Inventories Fall.
Oil prices recovered slightly as data pointed to firm U.S. Fuel demand, providing respite after a 5% drop a day…
Brent Crude Trades Above $100 On Potential OPEC+ Supply Cuts.
The price of the black liquid is bullish today as a result of mounting supply tightness concerns amid disruptions to…
PetroChina H1 Profit Jumps 55% On High Oil Prices.
PetroChina (601857. SS) reported a 55% jump in profit during the first half of 2022, boosted by an increase of its oil…
Major Gulf Bourses Gain On Rising Oil Prices.
Major stock markets in the Gulf rose in early trade, in response to a surge in oil prices in the…
Saudi Says Oil Price Plunge Ignores Extremely Tight Global Crude Supply.
OPEC’s leading oil producer, Saudi Arabia, says the recent oil price decline is by poor futures market liquidity; and macro-economic…
OPEC+ Missed Output Targets By 2.9 Million Barrels Per Day In July.
OPEC+ produced 2.892 million barrels per day (bpd) below their targets in July, two sources from the producer group said;…
ExxonMobil Assets: Oil Workers Commend FG’s Rejection Of Seplat Acquisition.
Oil workers under the umbrella of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN); have hailed President Muhammadu Buhari’s…
Brent Crude Oil Posts Worst Weekly Decline Since April 2020.
The commodities market in 2022 has been nothing short of a rollercoaster ride, especially in the Oil and Energy market,…
Oil Price Falls, OPEC Raises Nigeria’s Production Quota.
The Organisation of Petroleum Exporting Countries raised Nigeria’s crude oil production quota for September 2022 to 1.83 million barrels per…
Canada’s Inflation Rate Hit 8.1% In June As Gasoline Prices Bite
Canada’s annual inflation rate accelerated to 8.1% in June, missing forecasts but remaining at its highest level since January 1983,…