Oil Rises By 1% On OPEC Supply Cuts   Oil rose about 1.4 per cent on Wednesday, gaining support due to signs that the Organisation of Petroleum Exporting Countries and allied producers will continue to curb supplies in December, a weaker United States dollar and as...

Nigeria, Others Meet As Oil Price Rises To $60.5   The price of Brent, which is the crude Nigeria’s oil is priced, appreciated on Sunday to $60.51 per barrel. This came as Nigeria’s team met with leaders of crude oil producing nations in Africa to ensure they...

OPEC Mulls Deeper Oil Cuts Over Lingering Demand Concerns   The Organisation of the Petroleum Exporting Countries (OPEC), Russia, and their allies have not ruled out deeper oil output cuts when they next meet December 5-6 in Vienna, Austria, even as OPEC’s analysis arm revised upward...

Oil Pipeline Vandalism Hits 115% In July — NNPC     The Nigerian National Petroleum Corporation has raised an alarm over the increasing menace of oil pipeline vandalism, which hit a record high of 228 pulverized points in July. The corporation disclosed this in its July Monthly Financial...

‘Renewables To Replace Oil As Top Global Energy Source By 2040’   Renewable energy will displace petroleum as the most-used global energy source in the late 2040s, but oil demand is not expected to peak before 2050, the United States Energy Information Administration, yesterday, in its...

Oil: FG Reduces Licensing Time To 72hrs The Department of Petroleum Resources (DPR) on behalf of the Federal Government says it has reduced the turn-around time for licensing and license renewal for all categories of service providers in the industry from an average of three...