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.…
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…