OPEC daily basket price stood at $104.82 a barrel Friday, 12 July 2013

Vienna, 15 July 2013--The price of OPEC basket of twelve crudes stood at 104.82 dollars a barrel on Friday, compared with $104.81 the previous day, according to OPEC...

Malabu oil deal – Reps report indicts Adoke, Shell, Agip

Ten months after its inauguration, the House of Representatives committee which investigated the transaction involving the Federal Government and Shell/Agip Companies and Malabu Oil...

Shell shuts down 150,000bpd Trans Niger Pipeline again

The Shell Petroleum Development Company of Nigeria Limited (SPDC) operated Joint Venture Thursday night said it had shut in the 24-inch Trans Niger Pipeline...

NNPC lost 12 million barrels of oil to theft in three years – Official

State oil company Nigerian National Petroleum Corp lost a total 11.7 million barrels of crude oil to thieves who vandalized its pipelines between 2009...

Nigeria, others emerge OPEC’s weakest supply links

Disruptions in crude oil production from African producers such as Nigeria and Libya caused the decline in production from the Organisation of the Petroleum...

OPEC to lose market share to shale oil in 2014

OPEC’s share of the world market will shrink in 2014 as rising supply of U.S. shale oil gives the exporter group little comfort from...

FG, IOCs feud deepens over fiscal terms in PIB

As the National Assembly prepares to sit with the various stakeholders to harmonise their positions on the Petroleum Industry Bill (PIB), the feud between...

Nigeria risks losing Africa’s biggest oil producer status

Nigeria is on the verge of losing its prestigious ‘Africa’s biggest oil producer’ status as Angola drew level with it in May, with oil...

NNPC to acquire divested assets of IOCS

Nigerian National Petroleum Corporation, NNPC, Monday, said it will acquire the divested assets of International Oil Companies, IOCs, in Nigeria. The NNPC has also borrowed...

OPEC crude exports to rise – Oil Movements

The Organisation of Petroleum Exporting Countries (OPEC) will boost shipments by 2.3 per cent through late July as driving demand peaks during the northern...

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