Oil price slips on Thursday as new restrictions to stem a surge in COVID-19 infections have increased uncertainty over the outlook for economic growth and a recovery in fuel demand.
Brent crude LCOc1 futures dropped 70 cents, or 1.6% to…
Oil prices fell yesterday almost 4% to their lowest in two weeks on worries about the outlook for fuel demand as Europe and the United States grappled with a surge in new coronavirus infections.
Reuters reported that stock and…
Kenechukwu Obiajuru, Yenagoa
A Niger Delta group known as Ifalbobou Revolutionary Movement, (IRM) has expressed concerns over operations of First Exploration and Petroleum Development Company, (First E&P) within the…
The United States Energy Information Administration (EIA), has attributed the current surge in oil prices to shutdown of the Forties Pipeline in the North Sea on December 11, as a result of a crack in the pipeline, which remained…
Oil prices extended their losses on Wednesday, falling nearly 3 percent, after a smaller-than-expected U.S. inventory draw-down and jitters ahead of a vote on whether Britain should stay in the European Union.
Crude futures rose early in…
…First since 1998
OPEC’s 2015 oil export revenues slumped 46 percent to a 10-year low, the group said in a report published, underlining the impact on producers’ income from a collapse in prices.
Oil prices at about $50 a barrel are half…
Nigeria has ranked fifth amongst countries in the world to have flared (burnt off) the highest volume of gas per day, an improvement against its second position held in 2011.
The report, according to U.S Energy Information Administration,…
The premium of Nigeria’s Brass River crude to Dated Brent has jumped to its highest in almost a year as a result of increased demand due to recent tenders and the upcoming peak gasoline season in Europe and the US.
Brass River was assessed…
By Godspower Ike
The growth of sub-Saharan Africa has over the years been stunted mainly due to its inability to harness its vast potentials, especially its human and natural resources. Specifically, the abundance of gas in sub-Saharan…
