Saturday, April 17, 2021



Gas is vital to Nigeria’s future – OPEC

The Organisation of Petroleum Exporting Countries, OPEC, says gas remains vital to Nigeria’s future in the global oil and gas sector.

Buhari appoints Isa-Dutse as Executive Director Islamic Dev’t Bank board

President Muhammadu Buhari has approved the appointment of Mahmoud Isa-Dutse as Executive Director on the Board of Islamic Development Bank, IsDB, in Jeddah, Saudi...

Dangote refinery will be extremely beneficial to Nigeria – MOMAN

The Major Oil Marketers Association of Nigeria, MOMAN, says the 650,000 BPD Dangote Refinery in Ibeju Lekki, Lagos will be extremely beneficial to Nigeria when it begins production.

Buhari mourns Yamani, Saudi Arabia’s longest serving oil minister

President Muhammadu Buhari has expressed sadness over the death of former Saudi Arabia’s longest serving oil minister, Sheikh Ahmed Zaki Yamani, who died at a London hospital, aged 90.

Sylva tours 4 OPEC countries over production cuts

The Minister of State for Petroleum Resources, Timipre Sylva, has embarked on a four-day journey to some Organisation of Petroleum Exporting Countries, OPEC, to...

Dangote Refinery can bail Nigeria out of economic recession – IMF

The International Monetary Fund, IMF, the global financial watchdog, is projecting that Nigeria's Dangote Refinery would provide an elixir for the country's economy when it is completed and start production by 2022.

OPEC commends Nigeria over crude oil production cut

The Joint Ministerial Monitoring Committee, JMMC, of the Organisation of Petroleum Exporting Countries, OPEC, has commended the progress made by Nigeria to conform with the agreement on Crude oil production cut.

Libya generates US$700.4 million in oil revenues in November

Libya’s crude oil, gas and condensate export revenues for the month of November totalled US$700.4 million, up 204 per cent from October, the Libyan...

Saudi Energy Minister calls for stable oil prices

Saudi Arabia’s Energy Minister said on Monday that the Kingdom, OPEC’s de facto leader, would like to see stable oil markets and sustainable growth in crude demand and supply.

Oil rises as OPEC weighs deeper output cuts

Oil prices edged higher on Thursday ahead of an OPEC meeting where members are expected to agree on deeper output cuts in an effort to prop up prices and prevent a glut next year.

Iraq, Nigeria agree to OPEC requirements over cut in oil output

Oil cartel Opec agreed on Thursday to trim oil output by asking over-producing members Iraq and Nigeria to bring production in line with their targets as the group strives to prevent a glut amid soaring US production and a slowing global economy.

Oil rises for 5th session as stockpiles fall and market awaits Fed

Oil prices rose for a fifth day on Wednesday, supported by a drop in U.S. inventories and investor expectations that the U.S. Federal Reserve...

Kyari formally takes over as NNPC GMD

The 19th Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Melee Kolo Kyari, takes over from his predecessor, Maikanti Baru, who retired from the service of the corporation on July 7 after attaining the statutory 60 years retirement age.

Nigeria, Saudi Arabia, others sign new OPEC Charter

The Organisation of the Petroleum Exporting Countries, OPEC, and the non-member countries of the organisation, OPEC, on Tuesday signed a draft `Charter of Cooperation’ in a bid to further strengthen their partnership. 

Nigeria supports 9 months extension for oil production cut

Nigeria on Monday  reaffirmed its strong support for the  nine month extension in oil production cut under  the “Declaration of Cooperation” which seeks to  improve  global oil market stability among OPEC members.

OPEC reacts to Mele Kyari’s appointment as NNPC GMD

The Organisation of the Petroleum Exporting Countries, OPEC, on Thursday, congratulated Mele Kolo Kyari over his new appointment as the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC.

Meet Mele Kyari, the new NNPC GMD

Mele Kolo Kyari is a Geophysicist and an expert in crude oil marketing. He is currently Nigeria’s Representative at the Organization of Petroleum Exporting Countries (OPEC) where he provides leadership and participates in engagements relating to Crude oil, Gas production and associated market issues.

Oil hits five-month high above $71 on Libyan supply threat

Oil hit a five-month high above 71 dollars a barrel on Tuesday, supported by concern that violence in Libya could further tighten supply already squeezed by OPEC cuts and U.S. sanctions on Iran and Venezuela.

Oil prices rise on supply cuts, but global slowdown looms

Oil prices rose on Tuesday amid supply cuts by producer club OPEC and Russia, although a darkening economic outlook may soon weigh on growth...

Oil prices jump on U.S-China trade hopes, supply cuts

Oil prices have risen by more than 1.5 per cent on Monday on hopes that talks in Beijing can resolve a trade war between the United States and China, while supply cuts by major producers also supported crude.

OPEC yet to agree with final deal as Iran seeks exemptions – Sources

Iran appears to be the main obstacle for an OPEC oil output deal on Friday as the group’s leader Saudi Arabia has yet to...

Qatar to withdraw from OPEC

Qatar will withdraw from the Organization of the Petroleum Exporting Countries, OPEC, the Gulf nation’s Energy Minister Saad Sherida Al-Kaabi announced on Monday. The decision to quit the...

Oil rises for a fourth day, buoyed by OPEC supply plans

Oil rose for a fourth session in a row on Monday buoyed by the prospect that top exporter Saudi Arabia will push OPEC and...

Trump says Saudi king agrees to ramp up oil production

US President Donald Trump said on Saturday that Saudi Arabia's King Salman had agreed to his request to ramp up oil production, a week...

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