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Tag: brent crude

NNPC: 52m Crude Oil Barrels Lost To OPEC Cuts

NNPC
Nigeria lost at least 52 million barrels of crude oil between May and December 2020 to COVID-19-induced compulsory supply cuts imposed by the Organisation of Petroleum Exporting Countries (OPEC), accordingRead More

NNPC Sells N267bn Crude Oil, Maintains 1.42m bpd Output

Nigerian National Petroleum Corporation (NNPC)
The Nigerian National Petroleum Corporation (NNPC) sold crude oil worth N267.59 billion in February, while its total daily production stood at 1.42 million barrels per day in the first quarterRead More

Rising Oil Price Puts More Pressure On NNPC’s Finances

Crude oil
Labour canvasses alternative petrol pricing method Seeks three-year gas price moratorium Crude oil extended its gains at the weekend after closing at a six-week high with signs of strengthening demandRead More

NNPC Reduces Cash-call Debts To IOCs By $3.11bn

Nigerian National Petroleum Corporation (NNPC)
FG, labour to meet mid-April on petrol pricing Tanker drivers threaten strike The Nigerian National Petroleum Corporation (NNPC) has so far paid a total of $3.118 billion cash-call debts owedRead More

Petrol Price: NNPC Douses Tension, Says No Increase Now

Nigerian National Petroleum Corporation (NNPC)
Declares it has no intention of pre-empting ongoing engagement with labour The Nigerian National Petroleum Corporation (NNPC) has said it would maintain its current ex-depot price of petrol until theRead More

NNPC Spent N126bn On JV, Oil Search In January

Nigerian National Petroleum Corporation (NNPC)
The Nigerian National Petroleum Corporation (NNPC) funded its Joint Venture oil and gas assets, which it holds with mostly multinational oil companies, with a total of N104.7 billion in January,Read More

Analysts Project $100 Supercycle For Oil Post-pandemic

Oil rig
Barkindo: Industry investments declined by 30% in 2020 A steady rise in oil prices since late last year could presage a new ‘supercycle’ in oil as the world economy recoversRead More

At $63, Crude Oil Price Hits 13-month High

Organisation of Petroleum Exporting Countries (OPEC)
Nigeria to eliminate gas flaring by 2025 Oil prices yesterday maintained their upswing, hitting their highest in about 13 months on the back of vaccine rollouts expected to increase demandRead More

Again, OPEC Cuts 2021 Oil Demand, Projects Q2 Rise

Organisation of the Petroleum Exporting Countries (OPEC)
The Organisation of Petroleum Exporting Countries (OPEC), projected yesterday that world oil demand in 2021 will rebound more slowly than previously thought but added that it will pick up inRead More

With $60 Per Barrel, FG In Dilemma Over Deregulation

Crude oil
Fear of social disturbances stalls new pump price FG now subsidising PMS without budgetary provision As Brent Crude traded at $59.34 per barrel at the international oil market on Friday,Read More