If delegates to Thursday’s meeting of the Organization of Petroleum Exporting Countries (OPEC) have their way, Nigeria and Libya would join in proposed crude oil production...
The prices of crude oil fell on Wednesday largely due to swelling supply glut and signs of an economic slowdown just a day before a crucial...
Prices of crude oil slumped on Tuesday at the international market, ending four days of price gains. The slump has been attributed to rising inventory in...
The United States (U.S.) is planning to secure a legislative power to sue member countries of the Organisation of Petroleum Exporting Countries (OPEC) as its worries...
Nigeria’s foreign exchange reserves have dropped by over $1 billion in the last five weeks, available data from the Central Bank of Nigeria (CBN) showed on...
The recent closure of the Trans- Forcados Pipeline (TFP) following the May 7, 2018, suspected explosion on the facility at the Diebiri-Batan community in Warri, South...
The Nigerian National Petroleum Corporation (NNPC) Sunday said it has appointed Mallam Mele Kyari, the Group General Manager in charge of its Crude Oil Marketing Division,...
Nigeria received pleasant news Friday when the joint Organisation of Petroleum Exporting Countries (OPEC) and the non-OPEC Ministerial Monitoring Committee (JMMC) took a decision to extend...
The Organisation of Petroleum Exporting Countries (OPEC) wants Nigeria to keep its daily oil output at 1.8 million barrels which is 400,000 barrels less than the...
Nigeria has survived a threat of withdrawal of exemption largess given it by OPEC in oil production cuts, as member countries agreed to extend the output...
Tension returns in Nigeria’s oil sector as the Organization of the Petroleum Exporting Countries (OPEC) member-countries re-gather on Thursday, 25 May 2017, at its headquarters in...
Nigeria loses an estimated $15 billion yearly from the non passages of the Petroleum Industry Bill (PIB). This is according to the United States Energy Information...
A relief of sort seems to have come the way of Nigeria, as the Organisation of Petroleum Exporting Countries (OPEC), despite a relative rise in price...
Even though global energy demand is expected to rise in 2017, Nigeria may not benefit from it except the country takes certain steps to ensure otherwise....
Libya, the only country exempted with Nigeria from OPEC crude oil cuts has pumped more supply of the products to the international market, a situation that...
There was palpable tension on Saturday within the Niger Delta region of Nigeria following a renewed threat by a volatile militant group, the Niger Delta Avengers...
Crude oil output from the United States has sent signals that hope of sustainable increase in price of crud oil in the first quota of 2017...
There was a surprise agreement amongst members of OPEC as they rose from the much awaited meeting in Austria with a resolution to find lasting solution...
Tension is mounting among member-countries of the Organization of Petroleum Exporting Countries (OPEC) as final preparations towards it Wednesday, November 30, 2016 meeting in Algeria reaches...
A fresh division among members of the Organization of Petroleum Exporting Countries (OPEC) has negatively affected oil at the international market. This is as member-countries’ outputs...
The much awaited meeting between OPEC members and non members of the oil producing cartel has led to another bout of oil price loss, making it...
In a bid to regain its lost impact on the international oil market, Nigeria has opted to slash the official selling price of the country’s crude...
In its desperation to get a willing buyer of its crude oil and gas, Nigeria has concluded arrangement to turn to China following reports that the...
Oil prices fell Friday despite decision of the Organisation of Petroleum Exporting Countries (OPEC) to cut production by 200,000-700,000 barrels per day (bpd). This is after...
Member-countries of the Organisation of Petroleum Exporting Countries (OPEC) suffered 4 percent loss in price of crude oil at the weekend following heightened disagreement between two major producing countries and arch rivals: Saudi Arabia and Iran. Foreign news cable said the two...
Oil prices rebound over the week at the International market as hope was rekindled that the planned meeting of the major crude producers will help control...
Records from the statistics unit of the Organisation of Petroleum Exporting Countries (OPEC) has indicated that Nigeria’s crude oil production suffered further drop in the month of August, compared with increased figures among its categories at the same period. OPEC’s monthly oil market report for September, which was...
Yet again, Nigeria was missing from major programmes by member-countries of the oil cartel, the Organization of Petroleum Exporting Countries (OPEC). This may be attributable...
Nigeria and Libya are the only two OPEC-member countries not given chance to contribute on the debate on the Organisation’s new initiative aimed at influencing hike...
The International Energy Association (IEA) has named Nigeria and Middle East as major oil producing countries playing positive role in the market recovery of Organization ofPetroleum...
Declining oil output from Nigeria, France and a shortfall in US inventories combined on Monday to shore up oil prices to their highest in eight month....
The Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) on Monday, Mr. Ibe Kachikwu assured that despite...
A deal to freeze oil output by OPEC and non-OPEC producers fell apart on Sunday after Saudi Arabia demanded that Iran join in despite calls on...
Oil reached a 2016 high, hitting 43 dollars a barrel on Tuesday, raising hope for funding of the 2016 budget which had been predicated on $38...
Speculations are rife that President Buhari will nominate Mohammed Barkindo as the next OPEC secretary general. Sources close to government disclosed Thursday that the former helmsman...
Oil prices, Friday, rose above the bench mark for Nigeria’s 2016 budget by $4.29, as prives rose for the third straight days. The latest price upward...
After positive signs of improving crude prices, hopes faded again on Tuesday, as prices dipped further below $40 per barrel. The further fall in prices may...
Minister of Petroleum, Dr. Ibe Kachikwu said Tuesday that Nigeria is taking the lead in a global effort aimed at freezing the level of oil production....
The price of Brent crude, on Monday, rose to hit a 2016 high of $40 per barrel. It was the sixth rise in consecutive trading days...
There seems to be a general optimism, though cautious, over Friday’s upsurge in the prices of crude in the international market. After selling below the $30...
Prices of crude in the international market made a dramatic increase on Friday, reaching a two-month high, as the Brent North Sea crude reached $38.72 a...
Having concluded the lesser Hajj to round off his visit to Saudi Arabia, President Muhammadu Buhari on Saturday left that country for Qatar, to attend the...
Ahead of a widely-anticipated U.S. interest rate increase next week and worries over economic growth, the naira yesterday sank to N260 to a dollar at the...
Secretary General of the Organisation of Petroleum Exporting Countries (OPEC) Abdalla El-Badri says there are a number of uncertainties and challenges facing the industry, and called...
Contrary to the expectations that the Organisation of Petroleum Exporting Countries (OPEC) will reduce the flow of crude oil to the global market to reduce the...
In his book, “One Hundred Million Dollars in One Day”, Michael Field narrated an incident that happened at the Organisation of Petroleum Exporting Countries (OPEC) meeting...
