opec news

  1. Nigeria Business News

    Business Africa’s largest oil nation could see production drop 35% – RT International

    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...
  2. Nigeria Business News

    Business Ivory Coast, Ghana form cocoa cartel – Newtelegraph

    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...
  3. Nigeria Business News

    Business OPEC Expresses Commitment To Oil Market Stability Post 2020 – Leadership Newspaper

    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...
  4. Nigeria Business News

    Business Africa’s Oil Curse, the Example of Nigeria – Cleantechnica News

    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 –...
  5. Nigeria Business News

    Business NNPC Agrees to $2.5bn Financing with Chinese Lender for Pipeline Project – Thisdaylive Newspaper

    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 –...
  6. Nigeria Business News

    Business Nigeria Met 2.3 Million Oil Production Assumption In August, Says IEA – Sahara Reporters

    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
  7. Nigeria World News

    World It’s 1986 Again as Saudi King Removes Energy Chief: Oil Strategy – Bloomberg

    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
  8. Nigeria Metro News

    Metro Saudi Arabia Eases Travel Restrictions On Women – The Trent Newspaper

    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...
  9. Nigeria Business News

    Business Nigeria Will Comply With OPEC, Non-OPEC Output Cut Deal, Says NNPC Boss – Channels Television

    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 –...
  10. Nigeria World News

    World Oil Prices may rebound as China and U.S. agree to restart trade talks – Nairametrics

    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
  11. Nigeria Business News

    Business Oil Prices Surge After Suspected Tanker Attack Near Iran – Leadership Newspaper

    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...
  12. Nigeria Business News

    Business Nigeria earns $236 billion from petroleum exports in five years – TODAY.NG

    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
  13. Nigeria Business News

    Business Oil rises as Saudi sees producers sticking with ongoing supply cuts – Reuters

    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...
  14. Nigeria Business News

    Business Trade Wars, Disruptions Drag Oil Price Down to $69 – Thisdaylive Newspaper

    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...
  15. Nigeria Business News

    Business Oil dips as U.S. output hits record, but global markets remain tight – The Edge Markets

    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...
  16. Nigeria Business News

    Business Forex reserves stable in April amid high oil prices – Newtelegraph

    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...
  17. Nigeria Business News

    Business China’s Growth Pushes Oil Price to 2019 High at $72 – Thisdaylive Newspaper

    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
  18. Nigeria Business News

    Business Saudi Arabia is OPEC’s bull, as oil price tops $70 for first time in 5 months – Nairametrics

    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...
  19. Nigeria Business News

    Business Nigeria, Sao Tome Give Total Nod to Develop Oil Blocks – Thisdaylive Newspaper

    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
  20. Nigeria Business News

    Business Oil dips as U.S. crude production hits record – Premium Times Nigeria

    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...