Policy Alert, a data-driven non-governmental organisation, has launched a campaign to demand transparency and expose corruption in Nigeria’s extractive sector. The campaign, tagged #WetinWeGain2, is aimed at putting citizens at the centre of beneficial ownership in the sector. It is also aimed at contract transparency
The Department of Petroleum Resources (DPR) has said the federal government’s plan to increase the nation’s oil and gas reserves, are on course, and is being boosted by strategic policies and programmes. The Head, Public Affairs, DPR, Paul Osu, made this known in a statement on Tuesday
The prices of crude oil plummeted more than 1 per cent on Monday for a third session, after official data revealed refining and economic activity slowed in China. Brent crude was down 90 cents, or 1.3 per cent, at $69.69 a barrel by 0649 GMT.
The Organisation of Petroleum Exporting Countries (OPEC) and its allies on Sunday agreed to increase global oil production by 400,000 barrels per day. OPEC and its Russia-led oil-producing allies, OPEC+, agreed to unleash barrels of bottled-up crude over the next two years by committing to restore all
OPEC and partners are betting on a significant boost in oil demand over the coming months as member states get ready to ramp up oil production. OPEC, Russia, and their allies are planning to increase oil production by 2.1 million bpd by as early as July this year,
The Nigerian National Petroleum Corporation has decided to focus its attention on condensates production to compensate for lost revenue from oil exports due to the country’s commitment to the OPEC+ production cut deal. Nigerian daily This Day quoted the managing director of the NNPC as laying out this
Oil edged lower on Friday, falling more than 2% on the week as COVID-19 cases surged globally and oil supply is set to rise in coming weeks. Brent crude futures LCOc1 settled at $41.92 a barrel, down 2 cents, while U.S. West Texas Intermediate (WTI) crude futures CLc1 lost
Jet fuel consumption remains the hardest hit section of the global oil market as passengers avoid air travel as a result of the pandemic and government travel restrictions. The specific problems of the jet market explain why refinery margins for closely related distillates such as
Oil prices appreciated Tuesday after the Organization of the Petroleum Exporting Countries (OPEC) said that world oil demand would fall by 9.46 million barrels per day (bpd) in 2020. OPEC said there will be a decline in demand in its monthly report for September, released
Nigeria is holding talks to give up majority stakes in all four of its moribund oil refineries, Mele Kyari, head of the state oil firm NNPC, said on Wednesday. He told Channels TV that discussions were taking place on an operating model in which the