Oil prices hold steady on hopes trade tensions could ease
Crude oil prices held mostly steady on Tuesday on optimism that U.S.-China trade tensions would ease and on hopes that major economies would enact stimulus measures to counter a possible…
OPEC sees bearish oil market outlook for rest of 2019Â
OPEC delivered a downbeat oil market outlook for the rest of 2019 on Friday as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case…
Oil production: We are unwaveringly committed to OPEC, non OPEC production adjustments agreement -NNPCÂ
Nigeria has reaffirmed its unwavering commitment to production adjustments agreed upon under the Declaration of Cooperation (DoC) between member countries of the Organisation of the Petroleum Exporting Countries (OPEC) and…
NUPENG suspends industrial action planned over Chevron dispute
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG)Â said on Friday it has suspended planned industrial action related to a staffing dispute with U.S. oil major Chevron. OPEC member…
Change of baton: Baru formally hands over to Kyari as 19th NNPC GMD
Mallam Mele Kolo Kyari has officially become the 19th Group Managing director of the Nigerian National Petroleum Corporation (NNPC) taking over from Dr. Maikanti Kacalla Baru. Kyari, takes over from…
Barkindo re-elected OPEC Sec-Gen for a three-year term
Mohammed Barkindo, OPEC Secretary General The Organisation of Petroleum Exporting Countries (OPEC ) on Monday night announced the re-election of Nigeria’s Mohammed Barkindo as Secretary General for a three-year tenure….
Why Nigeria supports 9 months extension for oil production cutÂ
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…
Iran opposes delaying oil producer group’s next meeting
Iran has told OPEC that it opposes delaying the oil producer group’s next meeting, setting the scene for another fight with fellow members as U.S. sanctions put Tehran under unprecedented…
U.S. oil output will help offset falling exports from Iran, Venezuela – IEA
Courtesy Reuters The world will require very little extra oil from OPEC this year as booming U.S. output will offset falling exports from Iran and Venezuela, the International Energy Agency…
Oil Price Hike: Economic Slowdown Likely To Soon Dent Fuel Consumption
Oil prices edged up on Friday, lifted by ongoing supply cuts led by producer club OPEC and by U.S. sanctions on petroleum exporters Iran and Venezuela. Despite strong price increases…