crude oil news

  1. Nigeria Business News

    Business Oil Prices Leap After 3 Days Of Sliding – Leadership Newspaper

    Oil prices moved up for the first time in three days yesterday, but rising supply and fears over the outlook for demand amid the U.S.-China trade war kept pressure on the market. Brent crude futures had gained 36 cents, or 0.5 percent, to $76.27 a barrel after … Read more via Leadership...
  2. curator

    Business JUST IN: Total, NNPC, other partners to launch Egina crude in Singapore – Premium Times Nigeria

    French oil major, Total and the Nigerian National Petroleum Corporation (NNPC) along with some other partners will, later this month, launch Egina crude in Singapore. The launch will take place at the Asia Pacific Petroleum Conference (APPEC), scheduled to hold from September 24 to 26, …...
  3. curator

    Business OPEC Output Rises On Nigeria, Kuwait Supplies – Sahara Reporters

    Oil production from the Organisation of Petroleum Exporting Countries (OPEC) rose in July, despite supply shortfalls from Libya, Iran and Saudi Arabia. Rising output from Nigeria, Kuwait and the UAE offset the drops. OPEC production averaged 32.32 million barrels per day (bpd) in July, 40,700...
  4. siteadmin

    Politics Harvesting the benefits of oil and special duties – Vanguard News

    That Delta State is blessed with abundant crude oil and gas reserves is no longer news. And based on this economic advantage, there is a ministry in charge of gas and oil activities..... Read more via Vanguard News – Get More Nigeria Political News
  5. curator

    Business OPEC oil production climbs as Saudi Arabia pumps more – Punch Newspapers

    Crude oil production from the Organisation of Petroleum Exporting Countries increased last month as Saudi Arabia pumped near-record volumes to make good on a pledge to consumers that demand would be met. The kingdom’s oil production grew by 230,000 barrels a day in July to 10.65 million...
  6. curator

    Business Amid Strong Dollar Threat, Oil Prices Projected to Hit $120 before December – Thisdaylive

    Oil prices have been projected to hit $120 by the end of this year as they are expected to amass some 40 per cent increase from its recent levels. This is despite the crude losing more than 8 per cent of its prices this … Read more via Thisdaylive – Get more: Nigeria...
  7. curator

    Business Oil Gains as U.S. Inventory Drop Adds to China Stimulus Optimism – Bloomberg

    Oil extended gains near $69 a barrel as U.S. industry data showed a decline in crude as well as fuel stockpiles, and investor optimism grew after China unveiled stimulus measures that’s likely to boost demand for commodities. Futures in New York rose as much as 0.5 percent, following a …...
  8. curator

    Business Nigeria, Niger Republic Sign MoU On $2bn Refinery Project – Leadership Newspaper

    The federal government yesterday took a bold step towards resolving the challenge posed by the continued importation of refined petroleum products as it signed a memorandum of understanding (MoU) with the Republic of Niger on a project that will facilitate the construction of a 100,000 –...
  9. siteadmin

    Politics Buhari hails move to import crude from Niger Republic – Tribune

    President Muhammadu Buhari has praised the move by Nigeria to export crude oil from Niger Republic as well as the setting up of a refinery in Katsina state that will make use of “stranded crude” from the northern Nigerian neighbour. A Memorandum of Understanding (MoU) to that … Read more...
  10. curator

    Business Shell’s onshore divestments gather pace with planned $2bn asset sale – BusinessDay

    Shell Nigeria’s ambition to fully divest from onshore fields in Nigeria is nearing a critical stage as it is making significant progress to sell all its mining leases in the contentious Ogoni community. Drilling for crude oil in onshore fields in Nigeria’s Niger Delta … Read more via...
  11. curator

    Business Asia Oil Buyers Snap Up Cargoes From Europe, Africa After Brent Prices Fall – Leadership Nigeria Newspaper

    Asian crude oil buyers are booking cargoes from Europe, the Mediterranean and Africa after a sharp drop in Brent crude’s value against Middle East benchmark grade.... Read more via Leadership Nigeria Newspaper – Get more: Nigeria Business News
  12. curator

    Business Oil prices fall after Trump demands OPEC cut prices – PM NEWS Nigeria News

    Prices of oil shoot up Oil prices fell on Thursday after U.S. President Donald Trump sent a strident tweet demanding that OPEC cut prices for crude. The escalating trade row between Washington and Beijing, which triggered another sell-off in Asian stocks on Thursday, was … Read more via PM...
  13. curator

    Business Nigeria not taking advantage of crude oil outages to boost production – BusinessDay Newspaper

    Last week the price of crude gained 10 per cent after a combination of fears of Iran production outages, disruptions in Libya and a bullish stock draw in the US. Brent, which is equivalent of Nigeria Bonny Light, rose more than 1 percent in … Read more via BusinessDay : News you can trust –...
  14. curator

    Business Africa Now Dominates OPEC – ModernGhana News

    Africa now dominates OPEC, at least in member numbers. The Republic of Congo, the latest to join after Equatorial Guinea last year and Gabon in 2016, expands the number of countries from the continent to seven, compared with six from the Middle East. Yet with less than a … Read more via...
  15. curator

    Business Fuel subsidy hits N2.4bn daily – Vanguard News

    Nigeria may be losing the gains of increases in the international oil prices as the Federal Government subsidy on fuel has risen to N2.4 billion daily in May, from N774 million in March, 2018, also as a result of the high price of crude oil in the international … Read more via Vanguard News...
  16. curator

    Business Suddenly, $100 per barrel forecast is resurfacing! – BusinessDay

    Crude oil price gained more momentum on the news that OPEC and non-OPEC oil producers planned to extend their cooperation indefinitely. In addition, weak dollar and a record streak of declines in American spare supplies of crude are helping to propel the oil prices. J via BusinessDay –...
  17. P

    Business Portugal, Cameroon, Malaysia Patronise Nigerian Crude Oil

    Portugal, Cameroon and Malaysia retuned to the Nigerian crude oil market after several months, crude export destination data released by the Nigerian National Petroleum Corporation (NNPC) showed. According to the report, around 948,000 barrels of Nigerian crude was exported to the Western...
  18. P

    Business Crude Oil Prices Fall Further Ahead Of OPEC Meeting

    Oil prices fell more than 2 percent on Friday, wiping out the week's gains after a tanker-tracking firm reported supply from OPEC is rising. OPEC's July oil supply was set to rise by 145,000 barrels per day (bpd) compared to June, Reuters reported citing data from PetroLogistics, a company that...
  19. P

    Business Indonesia Requests More Crude Oil From Nigeria

    Indonesia, a South East Asia emerging economy, has indicated interest to purchase more crude oil from Nigeria, Mr. Harry Purwanto, the country's ambassador disclosed this in Abuja on Wednesday. The Group Managing Director of Nigerian National Petroleum Corporation, NNPC, Dr Maikanti Baru...
  20. P

    Business Nigeria's Crude Oil Production Threatens Buhari's 2017 Budget

    Nigeria’s crude oil production fell by 156,900 barrels per day (bpd) to 1.269 million bpd in March, from 1.426mbpd recorded in February, threatening the 2017 budget oil production benchmark. Consequently, the country lost its status as Africa’s top oil producer to Angola, according to latest...