Oil & Gas

OIL MARKET FORECAST: Will OPEC’s 1.16 million oil cut shoot prices to $100 per barrel? By Our Correspondent Since the Organisation of Petroleum Exporting Countries, and allies, popularly known as OPEC+ announced its 1.16 million oil cut, the oil market has not been the same again. The bullish state of the oil market, partly driven […]

By Eyo Nsima Crude oil inventories have dropped by 4.346 million barrels, according to the American Petroleum Institute (API) data, thus sustaining the continued surge in prices. The API data obtained by The Daily, www.thedaily-ng.com, indicated that U.S. crude oil production fell to 12.2 million bpd for week ending March 24, 2023. But the major

By Eyo Nsima A former board member of Seplat Energy, Arumah Otei, yesterday, canvassed support for Small and Medium Scale Enterprises, SMEs in Nigeria. Speaking in Abuja at Seplat Energy global entrepreneurship programme, she pointed out that SMEs contribute about 70 percent of gross domestic product of many nations. She said: “Nigerians don’t want handouts.

By Eyo Nsima Oil prices have risen to more than $80 per barrel as OPEC+ announced a surprise production cut of about 1.16 million barrels per day. This has further increased the total OPEC+ cut to 3.66 million bpd in the past few months. Consequently, the prices of many crudes, including Brent and Nigeria’s Bonny

Women in Energy Network (WIEN) has demanded the incoming administration of the federal government to prioritize policies and programmes that dismantle prevailing gender bias and discrimination in the energy sector as a reliable way to harness the full human potentials in accelerating national development. WIEN which provides aegis for female investors, business owners, professionals and

The Federal Government of Nigeria has approved a 7-year contract extension for Brevity Anderson Consortium as conference producers and organizers of the Nigeria International Energy Summit (N.I.E.S) formerly known as Nigeria International Petroleum Summit (N.I.P.S) following a Federal Executive Council review and approval. “The Honourable Minister of Petroleum Resources presented a memo to FEC for

Stakeholders in Nigeria’s midstream and downstream sectors have urged the Federal Government to address key challenges and outline strategies for a sustainable future in the petroleum downstream sector. The appeal was made during a virtual online workshop with the theme “Deregulation of the Nigerian downstream sector: The day after,” organized by the Nigerian Petroleum Downstream