OPEC

OPEC tries to depoliticize oil, the producer group’s secretary-general was quoted by the Iranian oil ministry as saying on Thursday, following accusations by Iran that the United States is using oil as a weapon against Tehran. The…
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Nigeria’s crude production may rise further by additional 160,000 barrels per day (bpd) with the completion of Pan Ocean Oil Corporation Nigeria Limited’s three oil and gas infrastructure. Although Federal Government key assumptions and…
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The Nigerian National Petroleum Corporation (NNPC) has said that Nigeria’s effort to reduce debt owed to its foreign oil partners is progressing well and helping the country to bolster exploration and production. NNPC’s Group Managing…
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Goldman Sachs has adjusted its second quarter (Q2) 2019 Brent oil price forecast upwards by 11.5 per cent from $65/barrel to $72.50/b to reflect stronger assumptions on OPEC output cuts, further tightening of U.S. oil sanctions on…
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...To leap further on Libya, other crises The price of Bonny Light, Nigeria’s premium oil grade has risen from $70 to $71.74 per barrel in the international market, the highest in 2019, as the Organisation of Petroleum Exporting…
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The rising tide of light U.S. shale oil has largely swept away comparable grades of Nigerian oil from American shores and is putting them under pressure in Europe. But steady Indian and Indonesian demand has helped lift price…
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United States’ sanctions against Iran and Venezuela, fighting in Libya and production cuts led by the Organisation of Petroleum Exporting Countries (OPEC) yesterday pushed crude oil price to a five-month high of $70 per barrel, as…
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The average production cost for a barrel of oil in Nigeria has declined to just US$23 a barrel, Petroleum Minister Emmanuel Ibe Kachikwu told local media, adding that oil companies were not stopping there and were aiming to reduce this…
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* Nigeria’s top oil grades near five-year highs - trade * In Europe, buyers drive hard bargain for Nigerian oil The rising tide of light U.S. shale oil has largely swept away comparable grades of Nigerian oil from American shores and…
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Saudi Energy Minister Khalid Al-Falih met with President Muhammadu Buhari and discussed cooperation between the two OPEC-member countries in the energy sector, the minister said in a tweet on Saturday. Al-Falih said that he met with…
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