OPEC

Nigeria is about to ship the first cargo of crude oil from a new deposit about 90 mi off its coast. The 1 MMbbl consignment, which will head toward the Dutch port of Rotterdam, comes at a tricky moment for the West African…
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Notwithstanding the volatility recorded by crude oil price since December last year, the federal government has reiterated that there was no cause for alarm about the benchmark price for crude oil in the 2019 Appropriation Bill The…
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Nigeria produced less crude oil in January 2019 that it did in December 2018 by 82,644 barrels per day (bd), current production records obtained from the Ministry of Petroleum Resources yesterday disclosed. According to the…
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Oil Prices have finally rose amidst supply cuts led by OPEC and sanctions impose on Iran and Venezuela though analysts have predicted US escalating outputs and   raised concern over economic growth U.S. West Texas Intermediate (WTI)…
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FSDH Merchant Bank has advised the federal government to adjust the $60 per barrel budget benchmark for crude oil price, in view of forecast of lower crude oil price in 2019. The bank also called for strategies to guard the economy…
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In the aftermath of a United States House of Representatives Committee approval of a bill that would open up the Organization of the Petroleum Exporting Countries (OPEC) to antitrust lawsuits, it’s Secretary-General, Sanusi Barkindo, on…
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A Bill that allows the United States Attorney General to file antitrust lawsuits against the Organization of the Petroleum Exporting Countries (OPEC) or its members have been passed by a U.S. House of Representatives committee. The…
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Crude oil exports from the United States to the United Kingdom overtook supplies from other countries including Nigeria for the first time since such shipments began in 2015. In January, the US supplied the equivalent of almost one in…
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...Nigeria's budget 2019 gets boost Nigeria’s budget 2019 yesterday got a boost as oil prices surged to a two-month high as ongoing crisis sweeping Venezuela continues to have a huge impact on global commodity markets. Brent crude…
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–By Fred Ojiegbe This is an interesting time for the Nigerian oil and gas industry, as the country is witnessing improvement in crude oil production with the addition of 200,000 barrels per day from Egina Floating Production Storage…
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