ECONOMY · OIL AND GAS · WORLD NEWS

No OPEC Oil cut decision yet-Saudi Energy Minister_Femi Ehiabhi

OPEC hasn’t made a decision yet on whether to extend or modify its agreement to cut oil output, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said. The Organization of Petroleum Exporting Countries and its allies are to meet next week in Vienna to assess their global cuts and output policy. Prince Abdulaziz is confident… Continue reading No OPEC Oil cut decision yet-Saudi Energy Minister_Femi Ehiabhi

OIL AND GAS · WORLD NEWS

Oil Prices Fall As Market Weighs Virus Impact_Ehiabhi Femi

WTI and Brent crude oil prices finished lower for the third straight trading day. West Texas Intermediate (WTI) and Brent crude oil prices finished lower for the third straight trading day. The March WTI contract lost $1.15 Thursday to settle at $55.59 per barrel. It peaked at $56.27 and bottomed out at $54.77. March Brent… Continue reading Oil Prices Fall As Market Weighs Virus Impact_Ehiabhi Femi

ECONOMY · OIL AND GAS

NNPC Refineries Make Cummulative Loss Of N123.25BN_Ehiabhi Femi

The country’s refineries under the management of the Nigerian National Petroleum Corporation made a cumulative loss of N123.25bn from January to October 2019, latest figures released on Wednesday showed. An analysis of data in the October 2019 oil and gas report of the NNPC showed that all three entities recorded losses during the period under… Continue reading NNPC Refineries Make Cummulative Loss Of N123.25BN_Ehiabhi Femi