Oil Prices Plunge To $95 On Prospect Of Iran’s Nuclear Deal   Oil prices plunged yesterday amid a considerable progression in restoring Iran’s 2015 nuclear deal with world powers. Brent crude futures, the global oil benchmark, fell $1.3 per cent to $95.31 a barrel. US West Texas Intermediate,...

Iran, Argentina Apply To Join BRICS Bloc After Recent Summit - Reports   Iran and Argentina have applied to join the BRICS mechanism, the Russian state media reported, days after a summit of the five-nation bloc during which the leaders agreed to continue to discuss the...

Oil Hits $71 On Rising Demand Hopes In US, China       Oil prices were higher on Wednesday as negotiations over the Joint Comprehensive Plan of Action continued to falter, and as a rebound in oil demand in China, the United States and Europe threatened to outpace...

Nigeria’s Offshore Rig Counts Hit 12 In May As Demand Recovers         International Association of Drilling Contractors (IADC), Nigeria chapter, has hinted at slight market recovery going by the rig counts, stressing the need for prioritisation of training and retraining of members to meet industry’s standards. It,...

Nigeria, Six Others Account For 65% Global Gas Flaring – W/Bank       The World Bank on Wednesday said Nigeria and six other countries were responsible for two-thirds of global gas flaring. It said this in a statement titled ‘Seven countries account for two-thirds of global gas flaring’. The...

Oil, Gas Export Revenue Dipped By $2.23bn In 2020 – NNPC       The total revenue generated by the Nigerian National Petroleum Corporation from crude oil and gas exports plunged by 45.98 per cent last year amid the COVID-19 induced collapse in price and demand. Nigeria’s revenue from...