Boom for Nigeria as Oil Prices hit $73.79 a barrel
An improvement in Nigeria’s oil earnings is on course as prices held firm on Friday near three-year highs reached earlier this week as ongoing OPEC-led supply cuts, as well as strong demand, gradually draw down...
Global Crude Oil Stock Surplus Diminishes- IEA
The International Energy Agency(IEA) has said that the international oil market could become too tight if supply remains restrained by Organization of Petroleum Exporting Countries(OPEC) and its allies as global oil stocks have diminished.
The IEA, which coordinates the...
OPEC Upstream Gas And Oil Investment Hits $156bn
About 160 projects, with an overall estimated cost of some $156 billion, are being undertaken by members of the Organisation of the Petroleum Exporting Countries (OPEC) in the oil and gas upstream sector.
Besides, Nigeria, a member of...
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...
OPEC, Investors to Attend Nigeria Petroleum Summit
The Minister of State for Petroleum Resources, Dr Ibe Kachikwu says Members of the Organization of Petroleum Exporting Countries (OPEC), and many stakeholders in the oil sector will participate in the first Nigeria International Petroleum Summit (NIPS). Kachikwu...
OPEC: Oil Market Heads Towards Rebalancing
After long years of punishingly low oil prices, the global oil market is moving closer to reaching a healthy balance between supply and demand, OPEC said on Thursday.
In its monthly oil market report, the Organization of Petroleum Exporting Countries...
