OPEC

· Fear of social disturbances stalls new pump price · FG now subsidising PMS without budgetary provision As Brent Crude traded at $59.34 per barrel at the international oil market on Friday, the federal government is in a dilemma to…
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The Organisation of Petroleum Exporting Countries (OPEC) yesterday said its members had achieved 101 per cent adherence to crude oil output cut mandatorily agreed upon last year to curb huge supply glut. This is coming as oil price rose…
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His Excellency Timipre Sylva, Nigeria's Minister of State for Petroleum Resources, has been appointed Special Envoy for further consultations with DoC Participating Countries, an OPEC press statement has said. At the 26th Meeting of the…
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The 26th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Wednesday, 3 February 2021, under the Chairmanship of HRH Prince Abdul Aziz bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair…
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...insists World’ll still depend on oil, gas for 50% energy need by 2045 The renewables will not come anywhere close to overtaking oil and gas in the decades ahead, Secretary General of the Organisation of Petroleum Exporting Countries…
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The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Dr Mohammad Barkindo, says the oil and gas sector will still supply over 50 per cent of the global energy needs by 2045. Barkindo made that assertion…
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More loading programmes for Nigerian crude in March were issued on Friday while differentials appeared to be under downward pressure from ample supplies in February. Bonny Light is loading six cargoes in March, while Forcados is loading…
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Oil prices edged up on Monday as a weaker dollar offset fresh concerns about the hit to global fuel demand from renewed lockdowns to curb the spike in COVID-19 infections. Brent crude futures for March rose 32 cents, or 0.6%, to $55.73…
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The production policies of the non-member countries of the Organisation of Petroleum Exporting Countries (OPEC+) and pandemic’s path will continue to drive global oil prices in the year and result in global oil demand declining marginally…
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Falling oil prices and weak demand in 2020 have severely affected revenues from the marketing of Algerian oil. This situation will increase the pressure on the country’s foreign exchange reserves. In a note published on Sunday,…
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