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Oil & Gas

Experts seek legal backing for deregulation of dow

Monday, May 18, 2020
Some experts in the oil and gas industry have expressed concern over Federal Government rsquo;s pronouncement deregulating the downstream oil and gas sector without a law backing it. Prof. Wumi Iledare, the former President, Nigeria Association of Energy Economics (NAEE) told the News Agency of N ...

Nigerian oil offers missing amid sudden price spike

Tuesday, May 12, 2020
A rapid improvement to some price offers of Nigerian and Angolan crude oil in recent days left traders wondering whether sellers were too optimistic about a recovery of physical oil prices. Offers of light sweet Nigerian crude oil by Chevron and Exxon have jumped, including a cargo of Qua Iboe of ...

$5 Bonny Light: FG rules out 2020 budget review

Wednesday, April 22, 2020
The Federal Government has started close monitoring of the global oil market following the free fall in oil prices, including Nigeria rsquo;s Bonny Light, which price dropped from $12 to $5.30, Tuesday. However, Special Adviser to the Minister, Federal Ministry of Finance, Budget and National Pla ...

Happening Now: The Second Session Of The 9th Opec/Non-Opec Ministerial Meeting

Sunday, April 12, 2020
The second session of the 9th Opec/non-Opec ministerial meeting has commenced. Recall that the first session took place about seventy two hours ago. Interstingly, the meetings are being held via virtual digital platform. Nigeria, a prominent voice in the Organization is represented in the meeting ...

OPEC Holds 9th (Extraordinary) OPEC and non-OPEC Ministerial Meeting via Virtual

Thursday, April 9, 2020
The Organization of the Petroleum Exporting Countries (OPEC) has began her 9th (Extraordinary) Members and Non members Ministerial meeting today through virtual meeting platform. As the unprecedented challenge emanating from COVID-19 crisis, the organization has adopted the use of a digital m ...

Crude Oil prices Regain Some Strength But Still At Lows

Monday, March 23, 2020
Oil prices regained some ground in volatile Asian trade on Monday, but remained at multi-year lows due to the double shock of the coronavirus pandemic and the Saudi-Russia price war. International benchmark Brent crude rose 2.3 percent in afternoon trade at $26 a barrel, after earlier being down ...

Ministry Of Petroleum Resources Engages Stakeholders To Review Mandate And Struc

Tuesday, March 10, 2020
In anticipation of the passage of the Petroleum Industry Bill (PIB) which seeks to categorize existing Oil and Gas industry players into Policy, Regulation and Operations concerns, the Ministry of Petroleum Resources rsquo; Gas Department has taken a proactive measure to engage stakeholders of the G ...

Crude Oil prices Crash To $31 In The Wake Of Saudi Price War

Monday, March 9, 2020
Crude oil price fell by the most since 1991 on Monday after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling demand because of the coronavirus outbreak. Brent crude futures fell by as much as ...
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