Oil prices slip as IEA sees slow market rebalancing

Oil prices fell slightly on Friday after the International Energy Agency said weak OPEC compliance with production cuts was prolonging a rebalancing of the...

OPEC predicts higher oil demand in 2018, but raises output again

OPEC forecast higher demand for its oil in 2018 due to rising global consumption and slower supply growth from rivals, although another jump in...

Oil output for July edge up to 2.06m b/d – FG

Nigeria’s average oil production including condensates, increased to 2.06 million barrels per day (mb/d) last month, from 2.05 million b/d in June, as the...

Total invests $10bn in Nigeria’s oil, gas industry

Total Group has invested $10 billion into Nigeria’s oil and gas industry, Managing Director/Chief Executive, Total Upstream Companies in Nigeria, Mr. Nicolas Terraz, has...

West African oil booms as refineries cash in on high margins

Booming refinery profits are helping West African oil producers sell cargoes quickly, aided by a shortage in certain types of crude amid OPEC production...

2018: Nigeria aim to produce oil of over 2.3m bpd

The Federal Government has said that the country has the capacity to produce over 2.3 million barrels of oil per day (bpd) in 2018.Minister...

Oil extends gains as OPEC moves to cap Nigeria output

Oil prices extended gains on Tuesday after OPEC moved to cap Nigerian oil output and Saudi Arabia pledged to limit exports next month to...

India; Nigeria’s biggest oil buyer now purchases from US

India, Nigeria’s biggest oil destination, has started buying crude from the United States as it looks to diversify its sources of the commodity.According to...

Oil up ahead of producer meeting; Nigeria, Libya output in focus

Oil prices inched up but held near a one-week low on Monday ahead of a joint OPEC and non-OPEC meeting later in the day...

Oil flat, hovers below $50 level ahead of OPEC meeting

Oil prices were little changed on Friday ahead of a key meeting of major oil producing nations next week, sitting below the $50 per...

Refineries now supply 60 pct consumed kerosene – NNPC

The Nigerian National Petroleum Corporation on Sunday said that its refineries in Port Harcourt, Warri and Kaduna were now supplying 60 per cent of...

Supply interruption in Nigeria raise oil 1 pct, heads for 4...

Oil rose 1 percent on Friday, boosted by a supply interruption in Nigeria and prices were headed for a weekly gain of more than...