US Set to topple Russia as world’s biggest oil producer
The United States will overtake Russia as the world’s biggest oil producer, if not this year, by 2019 at the latest, as it oil import dropped to its lowest level since 2001.
IEA Executive Director Fatih...
UK Court Quashes Nigerian Oil Spill Case Against Shell
The Court of Appeal in the United Kingdom has dismissed a claim for compensation against Royal Dutch Shell by two Nigerian communities, affected by oil spill.
The communities in Rivers State, Ogale and Bille began two separate...
For The First Time Since 2014 Oil Hits $71
Global oil benchmark, Brent crude, surged above $71 per barrel on Thursday for the first time since 2014 on support from a weaker United States dollar, tighter global supplies and a record run of declines in...
Oil rose to above $56 a barrel on Tuesday, supported by Saudi Arabian export cuts in November and comments from OPEC and trading companies that the market is rebalancing after years of oversupply.
Saudi Arabia has cut November allocations by 560,000 barrels per day (bpd),...
Oil-markets on Friday saw Brent crude supported by Saudi Arabia hoping to cut October supplies, while United States crude was curbed by refinery-outages due to Hurricane-Harvey damages, which dented demand.
Focus was shifting to three other hurricanes that are currently tearing through the Caribbean and...
The Group Managing of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, said the firm lacked international oil trading skills.
According to him, several attempts made by the national oil firm’s management in the past to have a stronghold on oil trading have not yielded...
