Oil & Gas
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OPEC+ Cut Required Production Levels in November 2022 to 41.9mb/d
Yesterday, the Organisation of Petroleum Exporting Countries (OPEC+) members met for the 33rd joint ministerial meeting amid sanctions on Russia…
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FG secures pipelines with N12.43bn, pays IOCs $4bn
The Federal Government has so far paid $4.04bn to five international oil companies as cash call arrears repayment and has…
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The Anatomy of Crude Oil Theft in Nigeria: Understanding the Graft, Impact, and Implications
Executive Summary “Stealing, of course, is a crime and a very impolite thing to do. But, like most impolite things,…
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Oil firms owe banks N5.93tn amid losses, theft
The combined bank borrowing to oil firms operating in the downstream and upstream subsectors of the Nigerian oil and gas…
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Oil sheds more than $1 as China data disappoints
China’s July refinery output lowest since March 2020 – dataSaudi Aramco ready to maximise output to 12 mln bpd –…
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Oil slips as U.S. crude stockpiles rise, eyes on U.S. inflation data
Oil prices fell on Wednesday ahead of a key U.S. report on inflation and after industry data showed U.S. crude…
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NNPC Transits into a Limited Liability Company
The inauguration of the Nigerian National Petroleum Company Limited is poised to reshape the oil and gas industry in Nigeria…
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NNPC Approves Upward Review of PMS Pump Price of N169 for Lagos, N189 for North East Region
Media platforms are reporting that the Nigerian National Petroleum Company Limited has approved an upward review in the pump price…
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Oil settles lower ahead of potential large U.S. rate hike
Oil prices settled lower on Thursday, but pared nearly all losses after falling more than $4 earlier in the session…
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OPEC+ Reconfirms its Production Adjustment Plan
Last week, OPEC and OPEC + members held their 30th joint technical and ministerial meeting. The monthly meetings were held…
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