Russia announced Friday that it will cut oil production by 500,000 barrels per day next month after western countries capped the price of its crude over its action in Ukraine. “As of today, we fully sell all our crude output,…
OPEC+ can be trusted to balance markets, UAE minister says
The United Arab Emirates’ energy minister said on Monday that OPEC+ is keen on providing the world with the oil supply it needs. He said that the alliance of top producers would always be in a position to balance markets.…
OPEC Secretary-General, Barkindo, is dead
The Secretary-General of the Organisation of Petroleum Exporting Countries, Muhammad Barkindo, is dead. Barkindo died late Tuesday. The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, announced Barkindo’s death in a tweet posted to his verified Twitter…
Okonjo Iweala, Adesina, Mohammed, Barkindo lead list of Top 10 Nigerians on World Stage
The Top10 magazine, Nigeria’s foremost publication that celebrates excellence, has honoured top 10 Nigerian international figures shaping developments at continental and global levels with a special edition. In the latest international edition of the magazine titled “Top 10 Nigerians on…
Proposed United States anti-trust law threatens OPEC’s continued dominance (Guardian)
The dominance of the Organisation of Petroleum Exporting Countries (OPEC), particularly in stabilising oil price globally, is coming under serious threat following works on the No Oil Producing and Exporting Cartels (NOPEC) bill by United States lawmakers. If passed, the…
Stakeholders urge Nigeria remains in OPEC as Qatar plans exit next year (Guardian)
As Qatar plans to quit the Organisation of Petroleum Exporting Countries (OPEC) from January 1 next year, some stakeholders have insisted it is in the best interest of Nigeria to remain in the cartel. It was learnt that Qatar is…
Oando Posts N10.4bn Profit after Tax (ThisDay)
Oando Plc has posted impressive results for the nine months period ended September 2018, with a profit of N10.4 billion, representing a 46 per cent increase, compared with N7.1 billion it recorded in same period of 2017. The feat was…