opec news

As oil prices soar, Nigeria’s rig count for the month of July hit a slight decline to 32 as against 33 rig count recorded in May, at a time the 14-member Organisation of Petroleum Exporting Countries (OPEC) also recorded a decline of minus 13 … Read more via BusinessDay : News you can trust –...

Nigeria’s rig count for the month of June showed a slight decline of minus one, having recorded 32 as against 33 recorded in May, at a time the 14-member Organisation of... Read more via Vanguard Nigeria Newspaper – https://ift.tt/2vocXKy Get more: Nigeria Business News

Crude oil production from the Organisation of Petroleum Exporting Countries increased last month as Saudi Arabia pumped near-record volumes to make good on a pledge to consumers that demand would be met. The kingdom’s oil production grew by 230,000 barrels a day in July to 10.65 million...

Barely a few days after crude oil price surged towards $80 per barrel, following the shut down of one oilfield in Norway and Libya reduced production by more than a half, the price slipped on Monday to $73 per barrel as Libyan … Read more via Thisdaylive Newspaper – https://ift.tt/2uNbUD1...

India, the world’s fastest growing crude consumer has a note of warning for OPEC – start reducing prices, or waning demand will mean a curb in purchases from the crude cartel. At least that’s the suggestion from Sanjiv Singh, chairman of Indian Oil … Read more via BusinessDay : News you...

The Dangote refinery plans to start selling petrol, diesel and aviation fuel by early 2020, but the fertiliser plant, will start producing urea this year, Edwin Devakumar, the group executive.... Read more via Vanguard Newspaper – https://ift.tt/2KOobkq Get more: Nigeria Business News

Prices of oil shoot up Oil prices fell on Thursday after U.S. President Donald Trump sent a strident tweet demanding that OPEC cut prices for crude. The escalating trade row between Washington and Beijing, which triggered another sell-off in Asian stocks on Thursday, was … Read more via PM...

the Oil-Producing Exporting Countries (OPEC) yesterday disclosed that a whopping $10.3 trillion investment would be required to meet the 15 million barrels per day (mb/d) projected increase in global oil demand from 94.5 mb/d in 2016 to 111.1 mb/d in 2040... Read more via The Sun News –...

President Muhammadu Buhari Tuesday commended the cordial relations between Nigeria and the State of Kuwait. During a meeting with the outgoing Ambassador of the State of Kuwait, Dr Abdulaziz Alsharrah at the... Read more via Channels Television – https://ift.tt/2z86yYb Get More Nigeria...

President Donald Trump lashed out at OPEC with a warning to stop manipulating oil markets and piled pressure on U.S. ally, Saudi Arabia, to raise supplies to compensate for lower exports from Iran... Read more via Premium Times Nigeria – https://ift.tt/2tMaiJM Get more World News

Africa now dominates OPEC, at least in member numbers. The Republic of Congo, the latest to join after Equatorial Guinea last year and Gabon in 2016, expands the number of countries from the continent to seven, compared with six from the Middle East. Yet with less than a … Read more via...

Crude oil prices fell yesterday after the decision by the Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC members to raise..... Read more via The Guardian Newspaper – https://ift.tt/2yKCAcC Get more: Nigeria Business News

The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Mr. Muhammad Barkindo, has dismissed suggestions that pressure by.... Read more via Thisdaylive Newspaper – https://ift.tt/2lB2DcF Get more: Nigeria Business News

There was near excess in the quantity of money in circulation last week, save for the increased mop up exercise by the Central Bank of Nigeria (CBN), following the.... Read more via The Guardian Newspaper – https://ift.tt/2yDOSU5 Get more: Nigeria Business News

Russia on Saturday joined partner countries in backing an OPEC-led pledge to boost oil production in response to growing global demand, Angolan Oil Minister Diamantino Azevedo said. “We have agreed,” Azevedo told reporters after a meeting with OPEC ministers and 10 non-OPEC partner countries...

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, said the corporation would continue to swap crude oil for refined petroleum products for the next six months in the face of obsolete refineries in the country.... Read more via The Guardian...

Dr Maikanti Baru, Group Managing Director, Nigerian National Petroleum Corporation (NNPC), said oil revenue remained vital for building the nation’s economy..... Read more via Vanguard Newspaper – https://ift.tt/2MdaLM6 Get more: Nigeria Business News

Oil prices pushed up yesterday supported by a drop in U.S. commercial crude inventories, according to report by the American Petroleum Institute (API). U.S. crude inventories fell by 3 million barrels in the week to June 15 to 430.6 million barrels, according to the weekly API report. Brent …...

The Minister of State for Petroleum Resources, Ibe Kachikwu, said the oil and gas sector in Nigeria had witnessed positive transformation since the “Declaration of Cooperation” by OPEC and non-OPEC members. Mr Kachikwu said this in an interview with journalists on the sidelines of the …...

Clashes between rival groups in Libya's key oil export ports have caused output to drop by nearly half, the head of the National Oil Company said on Wednesday. "Production has seen a reduction... Read more via ModernGhana News – https://ift.tt/2JTMspK Get more World News