Oil & Gas
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Oil falls as China widens COVID-19 curbs; still set for weekly gain
– Oil prices fell on Friday after China, the world’s top crude oil importer, widened its COVID-19 curbs, but were…
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Seplat Energy Plc Reports N33.86bn PAT in Q3’22 Results, Proposes $2.5cents Interim Dividend; (SP: N1200.00k)
Key Highlights Revenue grew by 41.6% from N182.68bn to N258.72bn.Profit before tax stood at N77.47bnProfit after tax stood at N33.86bnShare…
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Oil steadies amid fears over Chinese demand, record U.S. exports
Storage tanks are seen at the Petroineos Ineos petrol refinery in Lavera, France, March 29, 2022. REUTERS/Benoit Tessier Summary Dollar…
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Oil Theft and Lack of Domestic Supply Obligations Stall Modular Refineries
The rising scale of crude oil theft, ageing infrastructure, and years of underinvestment, which has led to shut in of…
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Nigeria’s Crude Oil Production Drop to a Record Low
Nigeria’s Crude Oil Production Takes a Further Wallop The latest Monthly Oil Market Report (MOMR) for September 2022 by the…
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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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