The small, gas-rich state of Qatar said Monday that it will leave the oil cartel on January 1 after nearly 60 years of membership. The country's state oil company, Qatar Petroleum, made the announcement in a series of tweets.
"The withdrawal decision reflects Qatar's desire to focus its efforts...
Saudi Energy Minister Khaled al-Faleh said Friday the global market has the capacity to absorb higher oil prices, drawing a swift reaction from US President Donald Trump who accused OPEC of inflating prices.
Faleh’s statement at a meeting of oil producers in Saudi Arabia came as crude hit the...
As oil price soars high, Nigeria has one of the lowest rig count activities among all Organisation Petroleum Exporting Countries (OPEC), as Nigeria witness a slight fall in its rig count, data obtained from the Organisation of the Petroleum Exporting Countries, (OPEC) has shown.
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By Chika Izuora With Agency Report The price of brent crude oil rose to $70 per barrel yesterday, supported by ongoing output cuts led by OPEC and Russia, and ignoring a rise in United States and Canadian drilling activity that points to higher future output in North America. Brent …
Via...
The Organization of Petroleum Exporting Countries (OPEC), and non-OPEC members on Thursday agreed to extend the oil production cut by another one year starting from January, 2018.
With the cut deal, the global oil market will continue to witness reduction in about 1.8 million barrels of oil...
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The Organization of Petroleum Exporting Countries, OPEC, has pointed out that Nigeria may be losing about $2 billion per year due to biometric duplication collection by government agencies.
According to an official of the Information Technology unit of the OPEC Fund for International...
President Buhari has received another high profile visitor at his base in Abuja house. This time it was the OPEC secretary general,Muhammad Sanusi Barkindo, who paid a visit with his family to extend his best wishes to Nigeria's president. Let us not forget that President Buhari is also the...
The Minister of State for Petroleum Resources, Ibe Kachikwu has said bidding for refineries repair cannot be done in an openly.
The Minister told Daily Trust in Vienna, Austria on Thursday at the 172nd OPEC meeting, that refineries concession “Is a highly technical area, what we have done is...
Nigeria's petroleum minister Ibe Kachikwu on Monday disclosed why he nominated H. E. Mohammad Barkindo, as secretary general of the Organization of the Petroleum Exporting Countries (OPEC).
Kachikwu made the disclosure while receiving the OPEC Sec Gen Barkindo. He said when the campaign for...
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Nigeria is said to have returned back to the position of Africa's top oil producer after Angola took over in March 2016.
The Organisation of Petroleum Exporting Countries (OPEC), crude oil production from Nigeria rose slightly above that of Angola even before the January 2017 planned production...
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