The Organisation of Petroleum Exporting Countries (OPEC) has said the average price of its members’ crude grades (OPEC Basket) rose by 70 per cent in two years to $73.27 per barrel (bbl). Oil prices crashed globally in 2014 from over…
Nigeria records declining rig count, as OPEC shows minus 13 (Vanguard)
Nigeria’s rig count for the month of June showed a slight decline of minus one, having recorded 32 as against 33 recorded in May, at a time the 14-member Organisation of Petroleum Exporting Countries (OPEC), showed a decline of minus…
OPEC, Sahara Group, others ponder future of petroleum in Vienna
Sahara Group will join world leaders and other stakeholders to underpin the importance of collaboration in safeguarding the future of oil at the Organisation of Petroleum Exporting Countries (OPEC) 7th International Seminar scheduled to take place from June 21 -22,…
Why Nigeria may miss targets for oil reserves (Guardian)
A 10-year target set by the Federal Government to boost crude oil reserves to 40 billion barrels and daily production to four million by 2020 is becoming unrealistic due to uncertainties that decrease investments in the sector. Indeed, instead of…