Nigeria, OPEC Peers To Lose $272bn Oil Revenue
Nigeria and other members of the Organisation of the Petroleum Exporting Countries will see their combined net oil export revenue fall this year to its lowest level since 2002, according to the United States Energy Information Administration.
The...
Nigeria’s Oil Rig Count Rises By 2 As OPEC’s Decreases By 14
Nigeria has for two months now continued to experience rise in oil production as its rig count moved up by two, having recorded 10 in September, as against eight recorded in August.
Earlier in...
OPEC Seeks Quick Resolution Of US, Venezuela, Iran Conflicts
The Organisation of the Petroleum Exporting Countries (OPEC) has stressed the need for a quick resolution of the conflicts between the United States, Venezuela and Iran.
Following geopolitical conflicts, the U.S. has placed sanctions on Iran and...
Iran Bans Bitcoin, Cryptocurrencies
Iran banned the use of bitcoin and other cryptocurrencies by banks and financial institutions on Monday amid ongoing debate over how best to regulate the technology.
“The use of bitcoin and other cryptocurrencies in all the country’s monetary and financial centres was...
Oil Prices Rise as U.S Reduces Drilling
Oil prices have been lifted by a drop in U.S. drilling activity as well as by expectations that the United States could re-introduce sanctions against Iran.
U.S. WTI crude futures were at 65.18 dollars a barrel at 0025 GMT,...
Crude oil prices have increased on concerns over potential renewed U.S. sanctions against Iran as well as conflict in Iraq.
An explosion at a U.S. oil rig and reduced exploration activity also supported prices there.
Brent crude futures, the international benchmark for oil prices, were at...
