The Organisation of Petroleum Exporting Countries, OPEC, has revised non-OPEC supply growth in 2021 down by about 0.2 million barrels per day, mb/d, indicating an increase of 0.7 mb/d, to average 63.3 mb/d. In its February 2021 report obtained by The Daily, www.thedaily-ng.com, OPEC stated: “The forecast for non-OPEC supply growth in 2021 has been […]
The Organisation of Petroleum Exporting Countries, OPEC said it is well-pleased with Crude oil Price Movements since January, this year. In its February 2021 report obtained by The Daily, www.thedaily-ng.com, OPEC stated: “Crude oil spot prices rose firmly in January, along with a steady rise in futures markets. Major physical crude benchmarks increased about 10%
JUST IN: OPEC pleased as Crude Oil Price Movements rise further Read More »
The Department of Petroleum Resources, DPR has launched a new digital system to monitor the distribution of petroleum products in Nigeria. Speaking at the launch in Abuja, DPR Director/CEO, Engr. Auwalu Sarki, said: “Out very good information of how the products are been taken out of the borders. To do that, you need to know
DPR launches new system to monitor petroleum products distribution, smuggling, hoarding Read More »
By Adetunji Oyebanji The public, which includes the downstream operators are key stakeholders in the Nigerian oil and gas industry. We believe that as a country, we have and should move beyond the debate on the arguments for the removal of petrol price subsidies. The discussion we should be having today is how best to
After Deregulation, what next? Read More »
The Organisation of Petroleum Exporting Countries, OPEC, has predicted that global demand will rise by 5.8 million barrels per day, mb/d in 2021, as the world continues its battle against the Coronavirus pandemic, which culminated in lockdown, and low demand for oil. In its report obtained by The Daily, www.thedaily-ng.com, it stated: “For 2021, oil
OIL MARKET: Global demand to rise by 5.8 mb/d in 2021 —OPEC Read More »
.As Bonny Light price rises to $60.52 per barrel THE Major Marketers Association of Nigeria, MOMAN has disclosed that Nigeria’s fuel subsidy, currently incurred by the Federal Government through the Nigerian National Petroleum Corporation, NNPC was not unsustainable. The price of Bonny Light rose from $59 to $60.52, on February 11, 2021, thus increasing the
Fuel subsidy is unsustainable in Nigeria — MOMAN Read More »
OIL PRODUCTION: FG puts the cost at $10 per barrel in Nigeria, seeks IOCs, others cooperation The Federal Government has set $10 or less per barrel as the cost of oil production in Nigeria. Speaking at the launch of the Nigerian Upstream Cost Optimisation Programme, NUCOP in Abuja, Nigeria, the Minister of State, Petroleum Resources,
BREAKING: Petrol price rises by 8.2% as oil price hits over $60 per barrel The price of petrol has risen by 8.2 per cent as oil price increased from over $57 to $60 per barrel in the international market. An investigation by The Daily, http://www.thedaily-ng.com, showed that the price of petrol, which previously sold at N162 per
BREAKING: Petrol price rises by 8.2% as oil price hits over $60 per barrel Read More »
SEPLAT, Sapele Okpe Expand Access to Quality Education with University Teaching Centre Seplat Petroleum Development Company Plc, the operator of the NPDC/SEPLAT Joint Venture assets, OMLs 4, 38 & 41, in partnership with the Sapele Okpe Community in Delta State, has expanded access to equal and qualitative higher education with the commissioning of the National Open
SEPLAT, Sapele Okpe Expand Access to Quality Education with University Teaching Centre Read More »
The Nigerian National Petroleum Corporation (NNPC) has called on stakeholders in the oil and gas industry to join in working towards reducing operations cost to achieve the $10 or less per barrel production cost target. A press release by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, stated that the Group Managing
NNPC rallies industry stakeholders for Upstream Cost Optimization Read More »
