Oil

Crude oil prices brushed off the Energy Information Administration inventory report today, which saw a 7-million-barrel build in crude oil inventories for the week to April 5. The authority also reported a reduction in gasoline…

Chibisi Ohakah with Agency reports Comparable grades of Nigerian oil has been largely swept away and put under pressure in Europe by the rising tide of light U.S. shale oil from American shores. However, steady Indian and Indonesian demand…

Pita Ochai As oil price return to $70/bbl, exporting countries are on the jubilation side. Production cuts by the Organisation of Petroleum Exporting Countries, OPEC, and its partners, a coalition that pumps about half of the world’s oil,…

Peace Obi The Organization of Petroleum Exporting Countries, OPEC has commended the effort Nigeria and some other African countries have put up helping to stabilize prices in the global oil market by sticking to the Organisation’s agreed…

The Daily Consulting has released an authoritative Report - Where to invest in Nigeria’s oil and gas industry - targeted at guiding investors, potential investors, financiers, consultants, contractors, advisers, policy makers and other…

Kenechukwu Obiajuru, Yenagoa A joint operation by troops of the joint military force deployed to protect oil facilities in the Niger Delta has confiscated a thug boat 'Aya Oba Olori II and a barge Christened 'Rampage 13' laden…

…puts on sale oil and gas fields worth $3bn Chibisi Ohakah, Abuja The oil and gas industry in Nigeria was rattled yesterday as world largest oil exploration company by market value, ExxonMobil, confirmed its divesting from Nigeria.…

Pita Ochai Bayelsa, Nigerian’s oil-rich state, is set to tackle multinational oil companies operating in the region who have polluted its environment through oil spills. The state government recently started an inquiry into the human and…

Pita Ochai The Federal Government of Nigeria is set to harmonise oil and gas revenue and production of data of earnings from all sectors of the economy. To achieve this, the government through the Ministry of Petroleum Resources has set up…

The investments needed to ensure stability in the global oil industry are returning after a downturn, but the pace is still slow, OPEC Secretary General Mohammed Barkindo said. Barkindo was talking to Reuters and an Azeri TV station Real…

 …Angola Government set to establish new Investment Program Peace Obi The Angola Oil & Gas 2019 Conference & Exhibition has been described as a critical launch pad for the Angola Government’s ambitious efforts to transform her…

    ...Kachikwu to present group’s foundational reforms    Chibisi Ohakah, Abuja New oil and gas discoveries throughout Africa, from Mozambique and Namibia to Senegal and Mauritania, are believed to be sparking fresh interests…

Nigerian Oil and Gas Opportunity Fair (NOGOF) another milestone achievement by the Nigerian Content Development and Monitoring Board, NCDMB to maximize investments into the Nigerian oil and gas industry for the benefit of the Nigerian…

Chibisi Ohakah, Abuja Nigeria is believed to have pumped more crude oil in February than the quota allocated to the country by the Organisation of Petroleum Exporting Countries (OPEC). Last December, OPEC and 10 non-OPEC countries agreed…

    …Pay only $180m of the $1bn cleanup fund Chibisi Ohakah, Abuja International oil companies (IOCs) have been accused of holding up the orchestrated Ogoni Cleanup fund, having contributed just about $180 million (about N64.8 billion) of…

Chibisi Ohakah, Abuja Security agencies are on the trail of oil marketers who had underpaid for petroleum products supplied to them from Petroleum Products Marketing Company (PPMC) Kaduna Depot, of which assets worth over N771million have…

Peace Obi South Sudan, an African country whose economy is heavily dependent on oil revenue has made a remarkable achievement in its effort to diversify her economy as the country earned about US$ 14.2 million in non-oil revenue for first…

   ...Sets to propose a charter By Ngozi Egenuka and Elizabeth Uwandu As the tussle for balance in oil pricing and its stability continue, the Organisation of Petroleum Exporting Countries (OPEC) has lamented that…

Pita Ochai Nigerian government has expressed willingness to go along with Saudi Arabia in the initiative to limit oil output to push up prices in the global market. While receiving the Saudi Arabian minister of state for African Affairs…

Pita Ochai Nigeria is about to ship the first cargo of crude oil from a new deposit about 90 mi off its coast. The 1 MMbbl consignments, which will head toward the Dutch port of Rotterdam, comes at a tricky moment for the country, given…