Tag: Crude Oil

OPEC Mulls Cut In Oil Production  
June 4, 2023 No Responses

OPEC Mulls Cut In Oil Production  

The Organization of Petroleum Exporting Countries (OPEC) and its allies began two days of meetings on Saturday that may culminate in further production cuts of as much as 1 million barrels per day.  Reuters reports that the group faces flagging...
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BUHARI: DANGOTE REFINERY, GAME CHANGER FOR NIGERIA’S ECONOMY
May 22, 2023 No Responses

BUHARI: DANGOTE REFINERY, GAME CHANGER FOR NIGERIA’S ECONOMY

President Muhammadu Buhari Monday inaugurated Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, which is expected to enable Nigeria to achieve self-sufficiency in refined products and even have surplus for export.Speaking at the occasion attended by Heads of S...
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Photo News
May 22, 2023 No Responses

Photo News

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CSOs Seek End To Fossil Fuel Exploration
May 13, 2023 No Responses

CSOs Seek End To Fossil Fuel Exploration

The 10th East African Petroleum Conference and Exhibition 2023, which came to a close in Kampala on Friday, has drawn criticism from Civil Society Organizations (CSOs) in the region.  In a May 10, 2023 letter sent to the Heads of State of...
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Oil Falls On Weak US, Chinese Data
May 12, 2023 No Responses

Oil Falls On Weak US, Chinese Data

Oil prices fell about two per cent to a one-week low on Thursday as a political standoff over the U.S. debt ceiling stoked recession jitters in the world’s biggest oil consumer, while rising U.S. jobless claims and weak Chinese economic...
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Edo Refinery Places Order For 200,000 Barrels Of Crude
May 8, 2023 No Responses

Edo Refinery Places Order For 200,000 Barrels Of Crude

Edo Refinery and Petrochemicals Company Limited (ERPC), has placed order for 200,000 barrels of crude from Oza Oil Field operated by Decklar Resources and Millenium Oil and Gas Company.  Edo Refinery was established with the injection of N700 mi...
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Shell Lifts Force Majeure On Bonny Light Crude Exports
March 16, 2023 No Responses

Shell Lifts Force Majeure On Bonny Light Crude Exports

The Shell Petroleum Development Company of Nigeria Ltd., (SPDC), operator of the SPDC joint venture, has lifted the force majeure on Bonny export programme with effect from March 15, 2023. Mrs Bola Essien-Nelson, the Media Relations Manager of SPDC, confirmed....
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Edo Refinery Orders 150,000 Barrels Of Crude
March 13, 2023 No Responses

Edo Refinery Orders 150,000 Barrels Of Crude

The Edo Refinery has placed an order for the supply of 150,000 barrels of crude from Decklar Resources Inc and Millennium Oil and Gas Company.  The refinery was developed by the Edo Refinery and Petrochemical Company Limited (ERPC) wit...
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Sylva: Theft, Pipeline Vandalism Responsible For Crude Losses
February 21, 2023 No Responses

Sylva: Theft, Pipeline Vandalism Responsible For Crude Losses

The Minister of State Petroleum Resources, Chief Timipre Sylva has attributed loss of revenue from crude production to theft, pipeline vandalism and decayed infrastructure.  The minister, in a statement on Monday by his Senior Adviser, Media and Communica...
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<strong>Price Cap On Russian Refined Fuels To Disrupt Trade</strong> 
February 3, 2023 No Responses

Price Cap On Russian Refined Fuels To Disrupt Trade 

The European Union’s ban on imports of Russian refined oil products, including diesel and jet fuel, will disrupt global flows once it takes effect on Sunday and could hurt Moscow more than an embargo on crude oil.  Although Western sanctions...
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Oil Falls As China Sticks To Strict COVID Policy
November 7, 2022 No Responses

Oil Falls As China Sticks To Strict COVID Policy

Oil prices fell more than 2% at the start of Asia trade on Monday after Chinese officials at the weekend reiterated their commitment to a strict COVID containment approach, dashing hopes of an oil demand rebound at the world’s top crude...
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Nigeria’s Crude Oil Production Averaged 1.238m bpd In June
July 13, 2022 No Responses

Nigeria’s Crude Oil Production Averaged 1.238m bpd In June

Nigeria’s crude oil production increased to an average of 1.238 million barrels per day (bpd) in June 2022, the Organisation of the Petroleum Exporting Countries (OPEC) has said  OPEC made this known in its Oil Market Report for July 2022...
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Nigeria’s Crude Oil Production Increases By 70,000bpd
June 1, 2022 No Responses

Nigeria’s Crude Oil Production Increases By 70,000bpd

Nigeria’s crude oil production increased by 70,000 barrels per day in May according to a Reuters Survey released on Tuesday.  The document, which was obtained by the News Agency of Nigeria (NAN) in Lagos, showed that the country’s crude oil...
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OPEC Raises Nigeria’s Production Quota To 1.772mbpd For June
May 5, 2022 No Responses

OPEC Raises Nigeria’s Production Quota To 1.772mbpd For June

The Organisation of the Petroleum Exporting Countries (OPEC) has raised Nigeria’s oil production quota from the 1.735 million barrels per day (mbpd) target approved in May 2022 to a new target of 1.772mbpd for June 2022.   A statement issued...
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