Main Menu

Tag: crude oil

Again, OPEC Cuts 2021 Oil Demand, Projects Q2 Rise

Organisation of the Petroleum Exporting Countries (OPEC)
The Organisation of Petroleum Exporting Countries (OPEC), projected yesterday that world oil demand in 2021 will rebound more slowly than previously thought but added that it will pick up inRead More

Sylva: With Rising Oil Price, High Petrol Cost Inevitable

Minister of State for Petroleum Resources, Chief Timipre Sylva
FG launches programme to reduce crude production cost The Minister of State for Petroleum Resources, Mr. Timipre Sylva, yesterday prepared the minds of Nigerians for a higher regime of theRead More

Analysts Foresee Faster Economic Recovery As Oil Price Hits $60

International Monetary Fund (IMF)
IMF urges FG to embark on aggressive revenue mobilisation Advises FG to raise VAT to 10% by 2022 Analysts yesterday forecasted a faster economic recovery for Nigeria as crude oilRead More

With $60 Per Barrel, FG In Dilemma Over Deregulation

Crude oil
Fear of social disturbances stalls new pump price FG now subsidising PMS without budgetary provision As Brent Crude traded at $59.34 per barrel at the international oil market on Friday,Read More

Oil Price Rises To $58, OPEC Exceeds Output Cut Target

Organisation of the Petroleum Exporting Countries (OPEC)
House: $20bn crude unaccounted for in eight years The Organisation of Petroleum Exporting Countries (OPEC) yesterday said its members had achieved 101 per cent adherence to crude oil output cutRead More

Barkindo: OPEC Halted 1.3bn Barrels Supply To Raise Oil Price

Organisation of the Petroleum Exporting Countries (OPEC)
House promises to protect Nigeria’s interest in PIB The Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), Dr. Sanusi Barkindo, yesterday highlighted the role played by the Declaration ofRead More

NNPC Turns To Condensates To Offset Losses From OPEC Cuts

Nigerian National Petroleum Corporation (NNPC)
Output curtailments affecting govt revenue, says Kyari Finally, Nigeria exits list of defaulting nations The Nigerian National Petroleum Corporation (NNPC) has said it is now focusing on condensates, which areRead More

NNPC Seeks $1bn In Oil Prepaid Deal To Revamp Refinery

NNPC
Repayment due in seven years The Nigerian National Petroleum Corporation (NNPC) has begun talks with trading firms to raise about $1 billion in a prepayment deal to refurbish its largestRead More

OPEC Mandates Nigeria To Cut Production By 939,000bpd In Three Months

Organisation of the Petroleum Exporting Countries (OPEC)
Resolves to return additional 500,000bpd for February, March Gives defaulting countries January 15 compensation deadline The Organisation of Petroleum Exporting Countries (OPEC) yesterday upheld its December 3, 2020 decision toRead More

OPEC Fails To Agree On February Oil Production Output

Organisation of Petroleum Exporting Countries (OPEC)
Meeting continues today as S’Arabia warns against laxity Members of the Organisation of Petroleum Exporting Countries (OPEC) and their allies, including Russia, yesterday failed to reach an agreement on productionRead More