Indian state-run oil refiners have indicated interest to increase total crude oil consumption volume next year with additional 2 million metric tonne (mt) of crude oil import from Nigeria in 2017.
The Nigerian crude oil term contracts involve the export of around 1.17 million barrels...
Not less than 224 companies have submitted bids to the Nigerian National Petroleum Corporation seeking to purchase and lift Nigerian crude oil grades for the period 2016/2017.
Successful companies would participate in the lifting of about 700, 000 barrels per day of crude oil on...
The IEA said it had cut its oil demand growth forecast for 2017 because of a weaker outlook for the world economy following Britain’s vote to leave the European Union.
Global oil demand growth is now expected to slow to 1.2 million barrels per day...
Global oil benchmark, Brent crude, fell by over three per cent on Monday to around $42 per barrel amid worries about growing glut in the market.
A Reuters survey last Friday found that output from the Organisation of Petroleum Exporting Countries likely rose in July...
Experts in the oil and gas sector have warned that Nigeria may become a net importer of crude oil in view of the ongoing destruction of oil installations in the Niger Delta region.
The experts, who spoke at a stakeholders’ roundtable on the perennial fuel...
