Reps, Finance Ministry Disagree Over N2.8bn Payment To OPEC       The House of Representatives and the Ministry of Finance yesterday disagreed over the procedure for paying N2.8 billion to the Organisation of Petroleum Exporting Countries (OPEC) in 2017. The Ministry appeared before the Public Accounts Committee of...

Crude Oil Price Hits 13-month High At $63       Oil prices yesterday maintained their upswing, hitting their highest in about 13 months on the back of vaccine rollouts expected to increase demand even as producers kept supply reined in. Global benchmark, Brent Crude, was up 88 cents,...

OPEC+ Optimistic About Recovery As Oil Price Nears $59         The international oil benchmark, Brent crude, rose further on Wednesday, trading near $59 per barrel. Oil prices were boosted by a drawdown in the United States crude and petrol stocks that added to demand recovery hopes fueled...

Oil Price Rises Above $57, Highest In 12 Months         The international oil benchmark, Brent crude, rose more than two per cent on Tuesday, hitting a 12-month high after major crude producers showed they were reining in output roughly in line with their commitments. Brent crude, against...

OPEC’s January Crude Oil Production Rises         The Organisation of Petroleum Exporting Countries (OPEC’s) crude oil production increased by 160,000 barrels per day (bpd) in January as the non-member countries called OPEC+ alliance is easing the output cuts in the first month of the year, it...

Oil, Gas To Meet Over 50% Global Needs By 2045 — OPEC       The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Dr Mohammad Barkindo, has said the oil and gas sector will still supply over 50 per cent of the global energy needs...