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Farooq

Posts Tagged "crude"

HomePosts Tagged "crude"
  • OPEC

The Organisation of Petroleum Exporting Countries (OPEC) has called on US shale oil drillers to cut output for the prosperity of global economy. In its monthly oil market report (MOMR), OPEC said the US oil and gas companies have already stepped up activities in 2017 as they start to increase their spending amid a recovery […]

LONDON, March 22 (Reuters) – Nigeria’s May exports showed declines in Bonny Light and Qua Iboe, while April plans continued to slowly clear on Wednesday. Angolan crudes came under renewed price pressure, with Unipec offering several cargoes. NIGERIA * Bonny Light, with exports of just 189,000 bpd, and Qua Iboe, with exports of 245,000 bpd, […]

  • dollar to naira

Alhaji Aminu Gwadabe, President of the Association of Bureau De Change Operators of Nigeria (ABCON) has called on the CBN to widen sources of forex to members of the association. Gwadabe made the call in an interview with the News Agency of Nigeria (NAN) on Monday in Lagos. The ABCON president said that for the […]

LONDON Jan 9 (Reuters) – Chinese demand for Angolan crude continued apace, and another Indian refiner booked Nigerian oil via a tender, but other spot trading was relatively quiet. * Outright prices for West African crude slipped along with benchmark dated Brent, which was trading 3 percent lower on word that OPEC member Iraq marked […]

LONDON Jan 4 (Reuters) – Differentials came under pressure on Wednesday due to excess oil and high freight rates, though Asian demand for heavy crudes showed more signs of life. * Benchmark Brent crude, on which West African grades are priced, was edging higher on expectations of falling stocks in the United States. But the […]

The Nigerian National Petroleum Corporation, NNPC, said on Sunday that the West Africa country’s crude reserve was now 37 billion barrels. The firm also vowed to continue to find sustainable solution to the challenge posed by insurgency in the oil producing Niger Delta region. The NNPC Group General Manager, Group Public Affairs Division, Ndu Ughamadu, […]

  • OPEC

* Unsold cargoes linger due to glut of light oil * U.S. oil more competitive after Brent’s OPEC boost  * Planned cuts are mostly to sour crude By Libby George LONDON, Dec 16 (Reuters) – Nigeria, one of two OPEC countries completely shielded from any cuts to its oil production, was in line for a […]

Oil prices jumped on Friday as evidence increased that producers in the Middle East were informing customers of upcoming supply cuts as part of a coordinated effort to drain a global glut. Brent crude futures were trading at 54.11 dollars per barrel, up nine cents from their last settlement. U.S. West Texas Intermediate (WTI) crude […]

ABUJA Dec 15 (Reuters) – Nigeria’s oil production is close to 1.8 million barrels per day (bpd), oil minister Emmanuel Ibe Kachikwu told a forum in Abuja on Thursday. Kachikwu and oil majors ExxonMobil, Royal Dutch Shell, Eni and Chevron are expected to sign a deal later in the day over repayments of $5.1 billion […]

  • Kachikwu

ABUJA Dec 15 (Reuters) – Nigeria’s oil production is close to 1.8 million barrels per day (bpd), oil minister Emmanuel Ibe Kachikwu told a forum in Abuja on Thursday. Nigeria has struggled to regain its peak production of around 2.2 million bpd due to persistent militant attacks in the oil-producing Niger Delta region. The Forcados […]