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Western Canada is producing 365,000 bpd more crude oil that current pipeline capacity can handle, a new report from the National Energy Board has revealed. According to the authority, as of September this year, Western Canada…
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A day after the American Petroleum Institute pressured already stressed oil prices further with an unexpected inventory build, the Energy Information Administration reported instead that crude oil inventories were virtually unchanged for…
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The Nigerian National Petroleum Corporation, on Thursday, reiterated that there was nothing illegitimate about the withdrawal of $1.05bn from the Nigerian LNG dividends account. The corporation said the money was withdrawn in public…
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OPEC and Russia-led non-OPEC oil producers are highly unlikely to create some kind of a formal joint organization for managing the oil market, due to the additional bureaucracy and to the risk of falling prey to a proposed U.S.…
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Crude oil prices rose on Boxing Day after an extensive decline that saw West Texas Intermediate creep close to US$40 and Brent briefly fall below US$50 a barrel. Today at 09:35 AM ET, the international benchmark had recovered…
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The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of ₦9.85billion for September, a vast improvement compared with the deficit of ₦3.90 billion, recorded in August Ibe kachikwu Details of the report which is…
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The Nigerian government incurred N623.17 billion on petroleum products supply under-recovery cost between January and November this year, a summary of the monthly estimates of the expenditure by the Nigerian National Petroleum Corporation…
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The Nigerian government incurred N623.17 billion on petroleum products supply under-recovery cost between January and November this year, a summary of the monthly estimates of the expenditure by the Nigerian National Petroleum Corporation…
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Forte Oil Plc Chairman Femi Otedola is set to sell his entire 75 per cent majority equity stake in the company in a deal estimated at about N25 billion – which translates to giving up the ownership. Forte Oil yesterday confirmed…
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Minister of State for Petroleum Resources, Ibe Kachikwu, has spent over three years in office. In a recent interview with The Guardian, Kachikwu spoke on the challenges facing Nigeria’s oil and gas sector and noted that the sector needed…
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