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Buhari urges UK, EU countries to invest in 4000 km Nigeria-Morocco...

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BY ISMAILA CHAFE ABUJA- President Muhammadu Buhari has stressed the need for long term partnership between Nigeria and the UK as well as the European...

OPEC daily basket price now $113.39 per barrel

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The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crude oil samples stood at 113.39 dollars per barrel as...

Oil jumps after UAE says it is committed to OPEC+ supply...

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Oil prices rebounded on Thursday after the United Arab Emirates said it is committed to major producers' pact to add 400,000 barrels per day...

Oil investment in Nigeria now at record low — Report

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Oil and gas investment in Nigeria has fallen to a record low, a new report by Renaissance Capital Limited revealed. The Russia-based investment bank...

NNPC lauds Barkindo’s leadership role in OPEC

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The NNPC Ltd. has commended Mohammad Barkindo, Secretary-General, Organisation of Petroleum Exporting Countries (OPEC) on the role he played in the formation of Declaration...

Oil price drops to $72.39 as OPEC increases production

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Brent, the crude against which Nigeria’s oil is priced, dropped in price on Monday morning following the agreement reached by members and allies of...

Diesel price surges to N290/litre as crude rises to $74.27

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The price of a litre of Automotive Gas Oil, also known as diesel, has maintained an upward trend as it rose to a record...

Oil demand will gain momentum in H2 2021 -OPEC

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The Organisation of Petroleum Exporting Countries has said that the demand for crude oil will gain momentum in the second half of 2021, beginning...

Nigeria’s Daily Oil Production Rises To 1.42m Barrels

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Nigeria increased its crude oil production to 1.42 million barrels per day in February, the latest monthly report of the Organisation of the Petroleum...

OPEC’s January Crude Oil Production Rises

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The Organisation of Petroleum Exporting Countries (OPEC’s) crude oil production increased by 160,000 barrels per day (bpd) in January as the non-member countries called...

NNPC Restates Commitment to OPEC+ Agreement…To Focus More on Gas, Condensats...

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The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to abide by the output cut agreement of the Organization of the Petroleum Exporting...

OPEC, Russia Deal Raises Hope For Crude Oil

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A fresh hope for oil producing countries such as Nigeria, and Algeria was raised at the weekend as oil prices hit the highest level...

OPEC Seeks Oil Recovery, Continues Production Cut Talks

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The Organisation of the Petroleum Exporting Countries will, on Tuesday, continue its discussion on the extension oil production cuts as it set its sights...

Nigeria’s Oil Rig Count Rises By 2 As OPEC’s Decreases By...

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Nigeria has for two months now continued to experience rise in oil production as its rig count moved up by two, having recorded 10...

OPEC+ production cut might be extended as Nigeria struggle to meet...

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There is every indication that the OPEC+ production cut target might be extended a little far into the coming year according to the Russian...

Mohammed bin Salman: Portrait of a ruthless Crown Prince, By Osmund...

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It’s hard to imagine that the impulsive action of a certain thirty-something-year-old living close by the rolling sand dunes of the Rub' al Khali...

Nigeria Ready for OPEC Talks – Sylva

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By John Ofikhenua Abuja (Sundiata Post) - The Minister of State for Petroleum Resources, Chief Timipre Sylva on Monday pledged Nigeria’s readiness for the...

OPEC expects almost zero oil demand growth this year

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Vienna - Global oil demand will all but stall this year as the coronavirus outbreak is expected to hit economies in various...

Oil drops on doubts over demand boost from U.S.-China trade deal

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Singapore and London - Oil prices slipped on Wednesday on concerns that the Phase 1 trade deal between the United States and...

OPEC+ likely to extend Oil Supply cuts until June – Sources

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Dubai and Moscow - OPEC and its allies are likely to extend existing oil output cuts...