The 9th OPEC/Non-OPEC Declaration of Cooperation Ministerial Meeting on Cruden Oil Cut

Tanimu- April 10, 2020

Nigeria has joined other OPEC+ counterparts in a historic curtailment of crude oil production to rebalance and stabilize the global oil markets. Nigeria is participating ... Read More

OPEC President Clebrates Nigeria, Saudi Oil Ministers

Tanimu- December 5, 2019

H.E. Manuel Salvador Quevedo Fernandez, Venezuela’s People's Minister of Petroleum and President of the OPEC Conference 2019, welcomed Nigeria's Minister of State for Petroleum Resources, ... Read More

Oil prices rise on trade deal hopes, OPEC supply cuts

Arowobusoye Samuel- March 4, 2019

Oil prices rose on Monday, buoyed by output cuts by OPEC and reports that the United States and China are close to a deal to ... Read More

Oil prices at 4-year high after OPEC rebuffs Trump

Arowobusoye Samuel- September 24, 2018

Oil prices jumped more than 2 percent to a four-year high on Monday after Saudi Arabia and Russia ruled out any immediate increase in production. ... Read More

Trump hits OPEC amid cartel fractures

admin- September 20, 2018

Trump hits OPEC amid cartel fractures Trump resumed his attacks on OPEC Thursday morning amid oil prices that have climbed to their highest level in two months. ... Read More

Oil Prices Rise After Libya Declares Force Majeure On Some Supplies

Abdul Jimoh- July 3, 2018

Oil prices rose on Tuesday after Libya declared force majeure on some of its supplies, although an overall rise in OPEC output and slumping Asian ... Read More

Kyari Emerges OPEC National Representative

Tanimu- May 13, 2018

Ndu Nghamadu, Abuja: The Nigerian National Petroleum Corporation (NNPC) has announced the appointment of Mallam Mele Kyari, incumbent Group General Manager in charge of its ... Read More

Supply Cuts,Strong Demand, Draws Oil Price Closer to Late-2014 Highs

Henry Solomon- April 20, 2018

Oil prices held firm on Friday near three-year highs reached earlier this week as ongoing OPEC-led supply cuts, as well as strong demand, gradually draw ... Read More

FG to Oil Stakeholders: Provide Accurate and Up-to-date Data

Henry Solomon- February 26, 2018

Dr Folasade Yemi-Esan, the Permanent Secretary, Ministry of Petroleum Resources on Monday urged oil and gas stakeholders to collate accurate, up-to-date data for the industry. ... Read More

Oil Price Rises As Saudi Arabia Says Producers Will Cooperate Beyond 2018

Abdul Jimoh- January 22, 2018

Oil prices climbed on Monday, pushed higher by Saudi Arabia’s comment  that cooperation between oil producers currently withholding supplies would continue beyond 2018. Strong global ... Read More

Crude Oil Price Jumps Above $65

Henry Solomon- December 12, 2017

Brent crude oil prices jumped above $65 per barrel after the shutdown of the Forties North Sea pipeline knocked out significant supplies from a market ... Read More

Outcome of 173rd Meeting of OPEC Member Countries

Arowobusoye Samuel- December 1, 2017

The 173rd meeting of the Organization of the Petroleum Exporting Countries (OPEC) ended today in Vienna, Austria and extended its current production agreement entered with ... Read More

Senate Postpones MTEF Passage, Awaits Outcome Of OPEC Meeting

Abdul Jimoh- November 30, 2017

The Senate on Thursday postponed till Dec. 5, the passage of Medium Term Expenditure Framework (MTEF), which covers 2018 to 2020. The postponement followed a ... Read More

Oil Prices Poised To Rise Above $60 Rise On Tightening Supply, Strong Demand

Abdul Jimoh- October 23, 2017

Investors in doubt over OPEC Oil output deal Oil prices rose on Monday over supply concerns in the Middle East and as the U.S. market ... Read More

Oil price hits approximately $53 on tighter U.S market

inno.korie- July 31, 2017

Oil price hit a two-month high on Monday lifted by a tightening US crude market and the threat of sanctions against OPEC-member Venezuela.   Brent ... Read More

Nigeria Reaffirms Commitment to Global Oil Market Stability

Arowobusoye Samuel- July 13, 2017

Nigeria has reaffirmed its commitment to continue working with other players for the stability of the global oil market. Nigerian Minister of State for Petroleum ... Read More

OPEC to legalise oil cut with non-OPEC – Barkindo

editor- June 4, 2017

NAN; Following the success of the second joint Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC meetings, the two organisation are presently looking into legalising ... Read More

OPEC Oil Output Rises In May As Cut-Exempt Nigeria, Libya Pump More

Abdul Jimoh- May 31, 2017

OPEC Oil Output Rises In May As Cut-Exempt Nigeria, Libya Pump More OPEC oil output rose in May, the first monthly increase this year, a ... Read More

Oil Prices Rise On Expectations Of Output Cut Extension

Abdul Jimoh- May 8, 2017

Oil Prices Rise On Expectations Of Output Cut Extension Oil prices rose on Monday on a growing conviction that an OPEC-led production cut initially scheduled ... Read More

News Summary; 25/01/2017 FG Will Not Stifle Press Freedom And Many More

Abdul Jimoh- January 25, 2017

FG  Set to Receive Consignment Of Fertilizer From Morocco The Federal Government is set to receive first consignment of tones of fertilizer from the Kingdom ... Read More