Oil news
Refineries posted N123.3bn loss in 10 months – NNPC
The country’s refineries under the management of the Nigerian National Petroleum Corporation made a cumulative loss of N123.25bn from January…
Concerns as NEITI unveils oil blocks’ owners
The Nigeria Extractive Industries Transparency Initiative (NEITI) has unveiled a beneficial ownership register, which holds the details of real owners…
Russian oil major returns to Libya after 5 year break
The National Oil Corporation of Libya has announced that Russia’s Tatneft has returned to its exploration project in the North…
US-China trade war sees oil rises further above $62
Oil rose further above $62 a barrel on Tuesday, supported by hopes that US President Donald Trump may signal progress…
OPEC hopeful of near term rebalance, stability in oil market, prices
The organisation of Petroleum Exporting Countries (OPEC) is optimistic of near stability in the oil market. Mohammad Sanusi Barkindo, secretary-general…
Libya crude floods market again amid OPEC’s supply cut decision
Libya’s crude shipments jumped to a new three-year high last month, dealing a fresh blow to OPEC and allied oil-producing…
OPEC, non-OPEC nations set to meet on compliance with oil cut decisions
Representatives of some OPEC and non-OPEC nations will meet in Abu Dhabi on Aug. 7-8 to discuss why some of…
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