Valuechain - Nigeria's foremost Online Energy News Platform

OPEC+ has tentative deal with Iraq on compliance with quotasAlliance to hold ministerial meeting on June 6 OPEC+ is set to extend production cuts to prop up the oil market after a breakthrough in high-stakes negotiations, and the…
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The Opec-plus alliance’s decision in April to cut production by a record 9.7 million barrels per day in the face of massive demand destruction has proved a relative success. Oil prices topped $40 per barrel this week, for the first…
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Total has entered into an agreement with SSE Renewables, to acquire a 51% stake in the Seagreen 1 offshore wind farm project for an upfront payment at closing of 70m£ and earn-outs up to 60m£ in aggregate subject to performance conditions.…
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Oil markets headed lower Thursday, on concerns record production cuts will be scaled back amid disagreements within OPEC over output reduction compliance. At 8:40 AM ET (1240 GMT), U.S. crude futures traded 1.4% lower at $36.77 a…
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…Mulls over Partnership with Developers to Reduce Nation’s Housing Deficit As part of measures to cope with the boom and bust cycle in the global crude oil market and to sustain revenue generation for the Country, the Nigerian National…
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Organization of Petroleum Exporting Countries, OPEC, leader, Saudi Arabia and non OPEC Russia have agreed a preliminary deal to extend existing record oil output cuts by one month while raising pressure on countries with poor compliance to…
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Nigeria expects to have all complete bids for marginal oilfields within 10 weeks, the director of the Department of Petroleum Resources (DPR) said on Wednesday. On Monday, Nigeria launched its first bidding round for marginal fields –…
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Nigeria’s efforts to cut its flared gas have been delayed by at least 6 weeks due to the new coronavirus outbreak, the petroleum regulator said on Wednesday. The West African country is trying to commercialize the gas that is currently…
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The current low crude oil prices present an opportunity for commodities-dependent economies like Nigeria to review their energy pricing policies as they look forward to the post-COVIC-19 pandemic era, the World Bank has said. The Bank…
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Some traders hoped a couple of Indian oil tenders could mop up oil to reduce a significant glut of Nigerian oil while European demand for West African grades remains nearly nil amid sluggish refining activity. India’s IOC has two buy…
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