OPEC

Key oil freight rates from the Middle East to East Asia climbed as much as 28 per cent on Friday in a global oil shipping market spooked by United States sanctions on units of Chinese giant COSCO for alleged involvement in ferrying crude…
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Two drone strikes on Saudi Arabian oil facilities by Yemen rebels have reduced the country’s production by half and threatened to push up crude prices. Some experts have warned that with the projected production shortage of 155 million…
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Minister of State for Petroleum Resources, Mr. Timipre Sylva, yesterday, disclosed that Nigeria would cut down on its crude oil production, this month and in October, in order to comply with the targets set by the Organisation of Petroleum…
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Reforms currently taking place at the Nigerian National Petroleum Corporation (NNPC), the country’s state-owned oil company, have been welcomed by no less a person than Mohammed Barkindo, the secretary general of the Organisation of…
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…As Saudi Arabia sustains commitment to output cuts Oil prices have increased in the last two days thanks to Saudi Arabia’s renewed commitment to output cuts. But such gains in prices often has the negative effect of making…
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Recent drops in the supply of Shale oil from the United States and a cabinet reshuffle in Saudi Arabia has also helped Nigeria’s mono-economy create new revenue sources for the time being. Oil price graph A five-day price…
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*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…
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-By Gideon Osaka By the time Mohammed Sanusi Barkindo completes his tenure in 2022, he would have entered the annals of the Organisation of Petroleum Exporting Countries, OPEC, as one of the longest-serving Secretaries General of the…
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OPEC in Vienna re-elects Nigeria’s Mohammed Barkindo as Secretary-General for a three-year tenure. Secretary General of OPEC Mohammed Barkindo The oil bloc also approved a nine-month extension for the global oil cut. Details later…
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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kolo Kyari, has described as “way to go”, moves by the Organization of the Petroleum Exporting Countries (OPEC) to extend oil production cuts by…
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