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Tag: OPEC
OPEC, GECF Hold First High-Level Meeting
Representing the lifeblood of global economy, two of the world’s foremost energy organisations OPEC and the Gas Exporting Countries Forum (GECF) recently held their...
Oil Price Skips After Trump Made False Victory Claims at US...
There were reports yesterday that oil prices rose nearly 3 per cent after President Donald Trump falsely claimed victory in a tight U.S. election...
Rising Infections May Delay Oil Recovery, OPEC Chief Says
The anticipation for global oil market recovery is seemed doused again as coronavirus infections rise around the world.
The Opec Secretary General, Mohammad Barkindo on...
Gabon Plans a Slight Reduction of its Oil Production in 2021
In 2021, Gabon’s oil production will drop by more than 10,000 bpd, according to the budget bill currently under review. A situation which will...
Nigeria: Oil Production Fell by 1.74mbd in September – OPEC
Crude oil production in Nigeria dropped by 1.74 million barrels in September, figures from the just released oil market report of the Organisation of...
OPEC+ Meets in November, Assures Stability in Oil Prices
Organisation of Petroleum Exporting Countries (OPEC+) alliance has assured that it will ensure that oil prices do not plunge steeply again when it meets...
OPEC Predicts Dangote Refinery, Others May Muscle-Up Small Refineries
The Organisation of Petroleum Exporting Countries (OPEC), has estimated that the world of oil refineries shall experience refining capacity additions between 2020 and 2025...
OPEC’s World Oil Outlook to be Launched on October 8
The 2020 OPEC World Oil Outlook (WOO) will be launched via videoconference in Vienna, Austria, on Thursday, 8 October 2020 at 14:00 (CEST).OPEC’s Secretary...
OPEC Sept Oil Output Rise to 24.38mbpd
The Organization of Petroleum Exporting Countries (OPEC) oil output rose for a third time in September, a Reuters survey found, as a restart of...
G20 Energy Ministers Strive for Sustainable Development and Market Stability
HE Yury Sentyurin, Secretary General of the Gas Exporting Countries Forum (GECF) participated in the G20 Energy Ministerial Meeting and reaffirmed its commitment to...
Saudi Energy Minister Presses OPEC+ on Fulfilling Oil Cuts
Saudi energy minister, Prince Abdulaziz bin Salman has warned OPEC+ compliance laggards, saying that failing to execute pledged production cuts was undermining the alliance’s...
IEA, OPEC Cite Caution About Global Oil Market, Post Covid19 Recovery
The Paris-based International Energy Agency (IEA) has slashed its 2020 outlook by 200,000 barrels per day (bpd) to 91.7 million bpd in its second...
Local Oil Firms Need Respite to Contain Production Cuts – Seplat...
The new chief executive officer of Seplat Petroleum Development Company Plc, Mr Roger Brown, has said that local oil firms deserve special support from...
OPEC Celebrates Six Decades of Commitment, Perseverance and Sacrifice
Hurray, the Organisation of Petroleum Exporting Countries, OPEC clocks 60! For OPEC it has been six decades of diligent and impactful drive for a...
OPEC Postpones 60th Anniversary Celebrations
The celebrations of Organization of the Petroleum Exporting Countries’ (OPEC) 60th Anniversary, which were originally scheduled this month in Baghdad where the Organization was founded,...
Seplat Expresses Concern Over OPEC Oil Cuts
The Chief Executive Officer of Nigeria’s biggest independent energy company, Austin Avuru, has said that the country’s decision to comply strictly with OPEC+ oil...
Oil Price Slide as Tension Rise Over US, China Feud
Oil prices slid down yesterday as the Covid19 pandemic and tensions arising from the US and China feud pushed investors towards what investors described...
OPEC Slashes Production to Revive Markets as COVID-19 Threatens Demand Again
According to World Oil Report, OPEC has slashed oil production to the lowest level since the Gulf War in 1991, as the global oil...
Nigeria’s December Oil Output Drop, Biggest In OPEC
Nigeria, Africa’s top oil producer, recorded the largest production drop of 80,000 barrels per day in the Organisation of Petroleum Exporting Countries last month.
The...
Oil surges again after Trump threatens Iraq sanctions
The gains extended Friday’s more-than-3% surge after a US air strike in Iraq killed top Iranian commander Qassem Soleimani on Friday. The killing has...
