opec news

Africa’s largest oil producer could see oil production fall by 35 percent as low oil prices and regulatory uncertainty threaten to prompt oil majors to postpone final investment decisions. OPEC member Nigeria is the largest oil producer in Africa and it pumped 1.776 million barrels of oil per...

Ivory Coast and Ghana have joined forces to form a cocoa cartel, New Telegraph has learnt. According to the monthly report on commodities from the Bismarck Rewane-led Financial Derivatives Company (FDC) Limited, the cartel, which bore some similarities with the OPEC, was to control… Read...

Secretary-general of the Organization of the Petroleum Exporting Countries, (OPEC), Mohammed Barkindo said the organisation and its allies are fully committed to maintaining oil market stability beyond 2020, with physical supplies relatively tight globally. He added that compliance with...

CleanTechnica has been running a number of articles on little noted negative aspects of gas/diesel vehicles. These include hundreds of US deaths annually from carbon monoxide poisoning, oil refinery explosions, 137 US oil spills last year, what to do with... Read more via Cleantechnica News –...

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has disclosed that the corporation has agreed to a $2.5 billion financing with a Chinese lender for pipeline project in Nigeria..... Read more via Thisdaylive Newspaper –...

Nigeria produced more oil than its 2019 budget assumption of 2.3 million, as it registered an output of 2.386 million barrels of oil daily in August 2019, according to the International Energy Agency.... Read more via Sahara Reporters – https://ift.tt/31jpCwa Get more: Nigeria Business News

A Saudi ruler replaces his oil minister for failing to deliver high enough prices as demand growth weakens and non-OPEC supply soars. I thought I’d woken up in 1986..... Read more via Bloomberg – https://ift.tt/2ZMzeTF Get more World News

Saudi Arabia on Tuesday, August 20, 2019, began implementing a landmark reform allowing women over the age of 21 to receive passports and travel abroad without permission from a male “guardian”, authorities said.... Read more via The Trent Newspaper – https://ift.tt/31QckXO Get More Nigeria...

The Nigerian government says it is committed to the production adjustments agreed on under the Declaration of Cooperation (DoC) between member countries of the Organisation of the Petroleum Exporting Countries (OPEC) and Non-OPEC Countries. Read more via Channels Television –...

Oil prices may rebound next week following the decision by the United States of America and China to restart trade talks. Washington is expected to hold off new tariffs on Chinese... Read more via Nairametrics – https://ift.tt/2FFYMWy Get more World News

Oil prices jumped as much as 4 per cent on Thursday after a suspected attack on two tankers in the Gulf of Oman near Iran and the Strait of Hormuz, through which a fifth of global oil consumption passes..... Read more via Leadership Newspaper – http://bit.ly/2ICgbQq Get more: Nigeria...

Nigeria, Africa’s top oil producer, earned a total of $236.15bn from petroleum exports over the last five years, a new report by the Organisation of Petroleum Exporting Countries has shown..... Read more via TODAY.NG – http://bit.ly/2MKJLZu Get more: Nigeria Business News

SINGAPORE (Reuters) – Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia should keep supplies restricted at current levels, and in relief that the United States withdrew a tariff threat against Mexico, removing a cloud over the global economy...... Read more via...

Crude oil prices dropped Wednesday to $69 per barrel, representing about two percent reduction over its previous prices. The prices of the different baskets of crude oil were weighed down by equity markets as China threatened to escalate the trade war with the... Read more via Thisdaylive...

Oil prices dipped on Thursday after data showed record U.S. crude oil production, which resulted in a surge in stockpiles. Outside the United States, however, oil markets remained tense as all exemptions to U.S. sanctions on Iran expire, the political crisis in Venezuela escalates… Read more...

Nigeria’s foreign exchange reserves were stable throughout April, rising to $44.80billion as at April 29, 2019 data obtained from the Central Bank of Nigeria (CBN) showed yesterday. New Telegraph’s analysis of the Apex Bank’s data… Read more via Newtelegraph – http://bit.ly/2V7kE6P Get more...

Global benchmark crude, Brent oil, yesterday hit a 2019 high above $72 a barrel, propelled by steady economic growth in China and a fall in United States crude stocks.... Read more via Thisdaylive Newspaper – http://bit.ly/2Gpimpt Get more: Nigeria Business News

Crude oil prices rallied to $70.43 last week Friday, ending the week bullish for the first time since November 2018. This means Brent closed last week 2.9% higher. Meanwhile, oil prices maintained its bullish run yesterday, as it closed at $70.76 a barrel. Brent oil prices rose, as … Read...

French oil giant, Total, was yesterday awarded an exclusive right by Nigeria and the Island of São Tomé and Principe, to begin exploration for oil in three blocks, 7, 8 and 11, located within the.... Read more via Thisdaylive Newspaper – https://ift.tt/2Hzkmxs Get more: Nigeria Business News

Oil prices dipped on Thursday, dragged down by weakening factory output in China and Japan and record U.S. crude output, although markets remained relatively well supported by supply cuts led by producer club OPEC..... Read more via Premium Times Nigeria – https://ift.tt/2H8eNG0 Get more...