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Posts Tagged "oil"

HomePosts Tagged "oil"

The National Bureau of Statistics (NBS) says Nigeria has realised more than N118tn from crude production and refining from 1961. The NBS report, which has additional data from the Nigerian National Petroleum Corporation, collated its statistics from 1961 till 2014. “The petroleum statistics on crude oil production and oil refining reflects that a total 32.70 […]

Femi Asu The import of Nigeria’s crude oil by the United States increased by 32.1 per cent to 52.36 million barrels in the first half of this year, compared to the same period in 2016. The US Energy Information Administration, the statistical arm of the Energy Department, revealed in its latest data that the country […]

The Nigeria oil industry lost 773,100 barrels per day to production shut-in due to product theft and pipeline vandalism in the month of May, 2017. At the international Brent price of $52 per barrel, the country lost about $40.20million (N12.30billion) per day. This has however, resulted to the Nigerian National Petroleum Corporation (NNPC) having a […]

As pessimism over oil dissipates and investors flirt with $50 a barrel again, short-sellers are getting out of the way. Hedge funds are the most upbeat about West Texas Intermediate crude in three months after bets on declining prices shrank. Meanwhile, signs that the shale boom is slowing and the market is moving closer to […]

By Ahmad Ghaddar London, July 25 (Reuters) – Oil rose by more than 2 percent on Tuesday after Saudi Arabia vowed to reduce exports from next month and OPEC called on members to boost compliance with agreed output cuts to help curb oversupply and support flagging crude prices. Brent crude futures rose $1.01 to $49.64 […]

LAGOS, July 20 (Reuters) – A Nigerian court has ordered that a $37.5 million property owned by former oil minister Diezani Alison-Madueke be seized, the state news agency said, as she faces charges of corruption and money laundering. The U.S. Justice Department filed a civil complaint last Friday aimed at recovering about $144 million in […]

ABUJA May 25 (Reuters) – Nigeria’s Senate passed a long-awaited oil governance bill following its third and final reading, it said on its official Twitter feed on Thursday. The Petroleum Industry Governance Bill is part of proposed reforms that make up the sprawling Petroleum Industry Bill (PIB), aimed at overhauling the OPEC member’s energy industry. […]

* Iraq, Algeria favour OPEC cut extension -minister * U.S. crude inventories fall more than expected, API reports * Libya production hits 800,000 bpd -National Oil Corp * U.S. government data on inventories due at 1430 GMT (Adds detail on Iraq, Algeria, updates prices) By Stephen Eisenhammer LONDON, May 10 (Reuters) – Oil prices rose […]

  • Shell

Oil giant, Royal Dutch Shell, has announced plans to invest about 25 billion dollars this year in Nigeria and all its oil and gas operation across the world. Shell made the announcement in its first quarter 2017 financial results released on Thursday. The report revealed that Shell netted an income of 2.2 billion dollars and […]

  • OPEC

The Organisation of the Petroleum Exporting Countries, OPEC, and non-OPEC countries have implemented 86 per cent of agreed output cuts, the producers said on Friday in Vienna. The producers noted that there was still room for improvement in oil prices, commending OPEC and other oil production countries. OPEC and a group of 14 other exporters, […]