The Organisation of Petroleum Exporting Countries (OPEC) and Non-OPEC countries have approved Nigeria’s exemption from oil production cuts.
A statement by the Director, Press Relations, Ministry of Petroleum Resources, Mr Idang Alibi, said the endorsement was given by at a meeting of OPEC’s Joint Ministerial...
The meeting of the Joint Ministerial Monitoring Committee of OPEC and Non OPEC Countries ended in Vienna on Friday endorsing Nigeria's position that the exemption granted it at the November 2016 Ministerial Conference and extended by the May Ministerial Conference should be sustained until...
Oil prices were lower on Friday but on course for weekly gains, the third in a row in the case of Brent as the clean-up after hurricane in the United States gathers pace and the outlook for demand rise.
U.S. West Texas Intermediate crude was...
Crude oil production freeze is now imminent for Nigeria, as the country’s oil production increased by 138,300 barrels per day (bpd) from the 1.723 million (bpd in July to 1.861million bpd, according to the latest report from the Organisation of the Petroleum Exporting Countries...
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that the government will resist crude oil output cuts until it meets with the Organisation of Petroleum Exporting Countries (OPEC) and Russia later this month.
The Minister of State for Petroleum Resources, Dr....
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...
