OPEC

The price of Organization Petroleum Exporting Countries, OPEC basket of fourteen crudes stood at $66.67 a barrel on Friday, compared with $67.78 the previous day, according to OPEC Secretariat calculations. The OPEC Reference…
Read More...

Industry expert has reiterated that Nigeria requires a steady investment of $25b annually to be able to generate 3m barrels per day, which can stimulate sustainable economic growth for the country. Mr. Ademola A.…
Read More...

The Organisation of Petroleum Exporting Countries (OPEC) has revealed that Nigeria’s crude oil blend – the Bonny Light – was among the top price earners in its February Oil price Reference Basket (ORB), with a 7.7 per cent price gain from…
Read More...

The price of Organization of Petroleum Exporting Countries basket of fourteen crudes stood at $66.91 a barrel on Friday, compared with $67.29 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of…
Read More...

OPEC Secretary General Mohammad Barkindo said on Sunday that compliance with a supply cut agreement between OPEC and non-OPEC members was improving, and that this would help the oil market to weather through the build up of oil…
Read More...

Saudi Arabia’s Energy Minister, Khalid Al-Falih, has said that member countries of the Organisation of Petroleum Exporting Countries (OPEC) and its allies led by Russia still have a lot of work to do to balance global oil markets, and are…
Read More...

The news broke last week through a memo signed by the Chief of Staff to the President, Abba Kyari, on behalf of the Presidency directing that the Nigeria National Petroleum Corporation (NNPC) take over the Oil Mining Lease (OML) 11 from…
Read More...

OPEC’s secretariat urged oil producers to keep going with efforts to prevent a surplus this year, as supplies from their rivals increase faster than world demand. Key OPEC members and their allies will meet this weekend in Baku,…
Read More...

The price of Bonny Light, Nigeria’s premium oil grade has risen from $66.00 to $67.48 per barrel, the highest in recent times, as the Organisation of Petroleum Exporting Countries, OPEC; continue to eliminate excess oil from the global…
Read More...

OPEC members are increasingly concerned about the passage of anti-OPEC legislation in the US while President Donald Trump’s oil price-focused tweets have added new uncertainties to the market, Mohammad Barkindo, OPEC’s secretary general,…
Read More...