Crude Oil Archives — Page 3 of 4

March 7, 2022 No Responses

Shell Defends Decision To Buy Russian Crude Oil

Shell has defended its decision to purchase Russian crude oil despite the invasion and bombardment of Ukraine. The oil giant said in a statement that the decision to purchase the fuel at a discounted price was “difficult”. It confirmed that...

January 9, 2022 No Responses

Navy Hands Over Impounded Vessel, 20 Suspects To EFCC

The Nigerian Navy on Saturday handed over impounded vessel – MTT4 and 20 suspected crude oil thieves to the officials of the Economic and Financial Crimes Commission (EFCC) in Bayelsa State. Commodore Patrick Effah, the Commander, Nigerian Navy Ship So...

November 26, 2021 No Responses

Oil Dips, Awaits OPEC+ Response To U.S.-Led Oil Release

Oil prices ticked lower on Thursday with investors waiting to see how major producers respond to the emergency crude release by major consuming countries designed to cool the market, even as data pointed to healthy U.S. fuel demand. U.S. West Texas...

November 19, 2021 No Responses

Crude Oil Hovers Above Six-Week Low

Oil prices rose slightly on Thursday after dropping to six-week lows as investors wondered about how much crude major economies would release from their strategic reserves and how much that would ease global crude demand pressures. Prices fell to six-week...

September 30, 2021 No Responses

Military Deactivates 69 Illegal Refining Sites

Operation Delta Safe have discovered and deactivated a total of 69 illegal refining sites in different parts of the Niger Delta region of the country, the Defence Headquarters has disclosed/The Acting Director, Defence Media Operation, Brig.-Gen. Bernard Onyeu...

September 16, 2021 No Responses

Crude Oil Prices Extend Gains

Oil prices climbed on Thursday morning, extending the previous day’s solid gains after a larger-than-expected drawdown in crude oil stocks in the United States, the world’s largest oil consumer. Brent crude oil rose 18 cents, or 0.2%, to $75.64 a.....

September 7, 2021 No Responses

Crude Oil Extends Losses

Oil prices extended losses on Monday, falling more than 1%, after the world’s top exporter Saudi Arabia slashed crude prices for Asia over the weekend, signalling demand concerns and that global markets are well supplied.Brent crude&...

August 27, 2021 No Responses

Tanker Crew Arrested Over Crude Oil Theft

The captain and 18 crew members of oil tanker, MT Strovolos have been detained by the Indonesian Navy on suspicion of stealing nearly 300,000 barrels of crude oil. According to World Maritime News, the Bahamas-flagged tanker was seized by the...

August 14, 2021 No Responses

Oil Extends Losses As Covid-19 Slows Demand

Oil prices fell for a second day on Friday after the International Energy Agency warned that demand growth for crude and its products had slowed sharply as surging COVID-19 cases worldwide forced governments to revive movement restrictions.Reute...

August 10, 2021 No Responses

NNPC Redeploys Staff, Appoints Garba Muhammad Spokesperson

The Management of the Nigerian National Petroleum Corporation (NNPC) has announced the promotion and redeployment of some staff to fill key vacant positions in the corporation. In a statement issued on Monday its spokesperson, Dr Kennie Obateru, NNPC exp...

August 6, 2021 No Responses

Okowa Seeks Proper Monitoring Of Crude Oil Production

Governor of Delta State, Ifeanyi Okowa has called for proper monitoring of Nigeria’s crude oil production to ascertain the volume and ensure transparency and accountability in the oil and gas sector. Okowa made the call at the opening of a...

August 3, 2021 No Responses

Crude Oil Prices Slide Over Higher Output, Others

Oil prices fell by more than $1 on Monday on worries over China’s economy after a survey showed growth in factory activity slipped sharply in the world’s second-largest oil consumer, with concerns compounded by a rise in oil output from OPEC&n...

July 7, 2021 No Responses

Crude Oil Rises Further

Oil prices rose slightly on Tuesday after the previous day’s rally, supported by expectations of a tighter market as output talks of OPEC+ nations were called off, but concerns that members may start to increase production capped gains.According to ...

May 11, 2021 No Responses

SPDC’s Pipeline Spills 276 Barrels Of Crude In April

The 14-inch crude trunk line operated by Shell Petroleum Development Company (SPDC) in the Niger Delta region spilled 276 barrels of crude oil in three incidents in April. The News Agency of Nigeria (NAN) learnt on Monday that the 276...