Nigerians have been assured that the federal government has no intension of increasing the pump price of Premium Motor Spirit (PMS), commonly known as petrol from the prevailing price of N145 per litre. The clarification issued by the Nigerian National Petroleum Corporation (NNPC) yesterday is
The passage of the Petroleum Industry Reform Bill (PIRB) was recently listed as a milestone in achieving the policy objective of the 7 Big Wins, a road map of the Nigerian oil and gas industry, which aims at restructuring and repositioning the industry. The passage
Crude stockpiles are starting to decline in a sign that the production cuts implemented this year are bringing the market to balance, according to OPEC’s Secretary-General Mohammad Barkindo. Read more.
Commodity Port has been engaged by a credible multinational buyer to source crude oil suppliers willing to deliver up to 15 million barrels. Commodity Port is currently compiling a shortlist to present back to the client and are keen to hear from suppliers that can
Summary Large oil companies are commonly held in the portfolios of dividend investors because of their long history of stability. Due to the decline in oil prices, none of the “supermajors” are able to pay their dividends out of cash flow. These companies are therefore
Libya is pumping the most oil in more than two years as the OPEC member restores output amid progress in mending the nation’s political divisions. The increase adds pressure on the world’s biggest producers who just signaled they may extend production cuts amid a slump
Oil prices edged up on Friday, supported by an early dip in the dollar and a wildfire that has shrunk Canadian oil sands crude output by a third, but Brent still ended with its sharpest weekly drop in four months as investors cashed out of
Those factors—bullish for oil prices—outweighed a disappointing jobs report showing companies added 160,000 new jobs to the U.S. workforce in April, compared with economists’ forecasts of 203,000, according to the Labor Department. A weaker jobs reports suggest tepid demand for oil. The continued spread of forest