Oil Rises as Prospect of Iran Deal Dims
Oil prices rise on supply concerns triggered by declining prospects of an Iran deal while an estimated increase in the United States (US) inventories capped further price upticks, raising demand woes.
Petrol Price Increased to N630.63 in October- NBS
The National Bureau of Statistics (NBS), says the average retail price of a litre of petrol increased from N195.29 in October 2022 to N630.63 in October 2023.
NNPC Ltd, TotalEnergies Sign MoU on Adoption of Methane Detection Technology
The Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a Memorandum of Understanding (MoU) with TotalEnergies for adoption and deployment of Airborne Ultralight Spectrometer for Environmental Application (AUSEA) in its upstream operations.
16.5Bn Fuel Imports: NNPC Submits to Forensic Audit
The Nigerian National Petroleum Company Limited (NNPC Ltd) has offered to submit itself for a forensic audit of fuel supply and subsidy management, insisting that daily fuel supply is 68 million litres.
Nigeria Crude Oil Production Averaged 1.451 mb/d in September – OPEC
The Organisation of the Petroleum Exporting Countries ( OPEC) says Nigeria’s crude oil production averaged 1.451 million barrels per day in September 2021. OPEC made this known in its Oil Market Report for October 2021on Wednesday in Lagos.
Fuel Scarcity: Minister Pushes to Overcome Supply Disruption
The Minister of State, Petroleum Resources, Chief Timipre Sylva, says the Federal Government and regulatory authorities are making efforts to address fuel scarcity by ensuring that supply disruption is overcome.
Oil Mixed as OPEC+ Members Dispute Colour Supply Outlook
Oil prices swung as OPEC+ members altered their plans to digitally communicate output decisions after delaying their meeting for four days, flooding the markets with supply concerns.
OPEC+ Cuts Output to Boost Oil Prices
Saudi Arabia, Russia and other major oil-producing nations have announced they would further slash production next year to prop up volatile prices.
Oil Falls as Market Keeps Tab on US-Iran Nuclear Deal
Crude oil prices slide lower early Tuesday, after recovering slightly at the start of the week, as recession fears force a substantial correction and nuclear deal talks conclude in Vienna, OANDA analyst Craig Erlam said in a Tuesday note.
ExxonMobil Renews Oil Mining Leases for 20-Year
ExxonMobil Nigeria has expressed commitment to maintain a significant deepwater presence in Nigeria for the next 20 years to unlock a sizeable potential value in its renewed Oil Mining Leases (OMLs)
