The oil industry is reversing ‘cut backs’ trend with the investment of around $20 billion in the energy sector in the US for the first quarter of 2017, the Secretary General, Organisation of Petroleum Exporting Countries (OPEC), Mohammed S. Barkindo, has said.
Speaking at the...
Members of the Organisation of Petroleum Exporting Countries, OPEC, have budgeted to invest in 160 oil and gas projects worth $156 billion. The projects covering exploration, production and refining are to be executed between 2017 and 2021 in the various nations, including Nigeria, Iran,...
Nigeria, which again lost its Africa’s top oil producer status to Angola in January, has recorded further decline in its crude oil production, a new report from the Organisation of Petroleum Exporting Countries has indicated.
OPEC, in its Monthly Oil Market Report for March 2017,...
The Central Bank of Nigeria (CBN) has said external reserves gained $58 million to $30.23 billion as at March 14, 2017. The latest data by CBN disclosed that nation’s foreign reserve has been hovering between $29 billion and $30 billion in March.
This is just...
OPEC said oil producers have kept their promise to cut output in accordance with a landmark deal designed to lift petroleum prices.
As a result, prices rose in February as last year’s accord between OPEC members and some non-members gained traction, the Organisation of the...
The Organization of the Petroleum Exporting Countries (OPEC) has achieved a record 94 per cent compliance in the first month of an agreed production cut deal, its Secretary-General Mohammad Barkindo said in Abuja.
This came as oil prices edged higher on Monday as investors showed...
