The Department of Petroleum Resources (DPR), yesterday, disclosed that the majority of the crude oil theft recorded in the country’s petroleum industry occur in the inland terminals, noting that it is practically impossible to steal crude oil from the offshore terminals. In a statement issued by its Head, Public Affairs, Mr. Paul Osu, in Abuja, […]
OIL THEFT: It’s practically impossible to steal offshore – DPR Read More »
By Eyo Nsima The construction of Azikel Refinery has reached 39.5 per cent, according to the Department of Petroleum Resources, DPR. In its latest report obtained by The Daily, www.thedaily-ng.com, DPR stated that the plant, located at Obunagha, Yenagoa Local Government Area of Bayelsa State, has the capacity to refine 12,000 barrels per day, BPD.
Azikel Refinery reaches 39.5% Completion Read More »
OIL MARKET: Kazakhstan, Iraq pledge to compensate for overproduced volumes Kazakhstan has pledged to make up for its previous over-production, according to the Organisation of Petroleum Exporting Countries, OPEC. In a statement obtained by The Daily, www.thedaily-ng.com, OPEC stated: “Kazakhstan continues to demonstrate its full support for the decisions taken at OPEC and non-OPEC Ministerial Meetings (ONOMM), most recently the 13th
OIL MARKET: Kazakhstan, Iraq pledge to compensate for overproduced volumes Read More »
Oando Foundation, an independent charity founded in 2011 to support the Nigerian Government in achieving its Universal Basic Education goals, is pleased to announce the commemoration of its tenth (10th) year anniversary on February 4, 2021. According to Oando, the Foundation was established in 2011 by Oando PLC, Nigeria’s leading indigenous energy solutions provider, with
Oando Foundation Commemorates decade of Progress as it marks 10th anniversary Read More »
.Commends Nigeria on output cut By Eyo Nsima THE Organisation of Petroleum Exporting Countries, OPEC, has appointed Nigeria’s Minister of State for Petroleum Resources, Chief Timipre Sylva as Special Envoy to consult with the Declaration of Cooperation (DoC). This was even as OPEC commended Nigeria for the sacrifices made to assist in achieving oil market
OIL MARKET: OPEC appoints Chief Sylva Special Envoy to consult with DoC countries Read More »
Iraq reiterates its commitment to adhering to full conformity and compensating for overproduced volumes in accordance with decisions taken at OPEC and non-OPEC Ministerial Meetings (ONOMM), most recently the 13th ONOMM on 4/5 January 2021, according to the Organisation of Petroleum Exporting Countries, OPEC. In a statement obtained by The daily, www.thedaily-ng.com, OPEC, stated: “Iraq
…Raises hope for market stability By Eyo Nsima There are indications that oil market would continue to witness stability as the Organisation of Petroleum Exporting Countries, OPEC, and non-OPEC member States, have already withdrawn 2.1 billion barrels of excess oil in the past nine months. This was contained in a statement obtained by The Daily,
OPEC, Non-OPEC members cut 2.1 billion barrels in 9 months Read More »
Oil Market: Prices rise to $57.49 per barrel over OPEC, non-OPEC output slash The price of oil has increased to over $57 per barrel in the international market as members of the Organisation of Petroleum Exporting Countries, OPEC, and non-members commit to an oil output cut. For instance, the price of Brent rose to $57.49
Oil Market: Prices rise to $57.49 per barrel over OPEC, non-OPEC output slash Read More »
BREAKING: Nigeria’s Bonny Light hits $56.95 per barrel By Eyo Nsima The price of Nigeria’s Bonny Light has risen to $56.95 per barrel over the American Petroleum Institute (API) favourable report. Consequently, the prices of many crudes, including Bonny Light rose significantly in the international market. Also, the price of Brent rose to $58.17
BREAKING: Nigeria’s Bonny Light hits $56.95 per barrel Read More »
Exxon Mobil Corporation has announced an estimated fourth quarter 2020 loss of $20.1 billion, or $4.70 per share assuming dilution. In its report obtained by The Daily, www.thedaily-ng.com, the company, stated: “Fourth quarter capital and exploration expenditures were $4.8 billion, bringing full-year spending to $21.4 billion, $9.8 billion lower than the prior year. ExxonMobil reports
ExxonMobil records $20.1bn 4th Quarter loss in 2020 Read More »