Crude oil prices rebound ease investors’ concerns for Nigeria debt market
The surge of crude oil prices within the week is a source of good news to Nigeria, with its resultant positive impact on the country’s economy, although the effect of the coronavirus pandemic is still biting hard on consumers and business activities. Crude oil prices rebounded to the highest level in almost 3 months at over $42 per […]
DPR Rolls Out Measures for Oil Industry Survival.
The Department of Petroleum Resources (DPR) has unveiled its strategic plan and policy actions for the survival and success of participants in the nation’s oil and industry post Covid-19. The Director of DPR, Mr. Sarki Auwalu, listed four key areas being pursued by the agency to ensure that the industry comes out of the market […]
Understanding COVID-19’s impact on the Oil And Gas Market Insights and Business Scenario 2020-2030.
The Latest report about the Oil And Gas Market provides a detailed evaluation of the business vertical in question, alongside a brief overview of the industry segments. An exceptionally workable estimation of the present industry scenario has been delivered in the study, and the Oil And Gas market size with regards to the revenue and volume have […]
Appointments: Is this Northern Nigeria Petroleum Corporation (NNPC)?
The reported lamentation of the leaders of Pan Niger Delta Forum (PANDEF), over the blatant lopsided appointments into top management positions of the Nigerian National Petroleum Corporation (NNPC), deserves attention from the Federal Government with a view to correcting it. The development makes one wonder if the organization has surreptitiously become Northern Nigeria Petroleum Corporation […]
The Last Oil And Gas Cycle: Building The Future On Lessons From The Past.
Oil and gas markets have always been volatile. Prices went up, prices went down — sometimes violently — and when they did, fortunes were made and lost. The industry learned to live with volatility, confident that when the market went full cycle, the scarcity of the resource and their ability to find and tap it […]
Oil & Gas: DPR announces 2020 marginal field licensing round.
The Department of Petroleum Resources (DPR) on Monday announced the commencement of the 2020 marginal field bid round. This bid round is coming 18 years after the last bid round in 2002 and is open to indigenous oil & gas companies and investors interested in participating in the exploration and production business in Nigeria. Marginal […]
How negative oil prices revealed the dangers of the futures …
A historic drop occurred on April 20, when the price of West Texas Intermediate crude dropped by almost 300%, trading at around negative $37 per barrel. The price of oil has steadily recovered, jumping by nearly 90% in May and registered the best month on record for WTI. However, the petroleum industry is still reeling from the effects of the coronavirus […]
Oil Prices Remain Excessively Vulnerable To Shocks.
Crude oil price started the week on the seesaw, with headwinds and tailwinds battling for control in a persistently unstable market situation. A spike in Covid-19 infections on the one hand and returning optimism on the other pushed oil up and down. This volatility is likely to continue over the next few days as data […]
The Oil And Gas Industry Faces A $1.8 Trillion Loss In 2020.
The coronavirus pandemic and the resulting oil price crash are set to wipe out as much as US$1.8 trillion from the revenues of oil and gas exploration and production companies this year – the worst-hit sector in terms of dollar revenue, Fitch Ratings said in a new report. “The critical and expensive nature of oil and […]
Asian Oil Markets Tighten After Saudi Aramco Cuts Supply
Saudi Arabia’s oil giant Aramco has cut the crude oil shipments loading in July to at least five of its customers in Asia, Reuters reported on Monday, quoting sources familiar with the plans. The move from OPEC’s top producer and the world’s largest oil exporter comes after Saudi Arabia hiked its official selling prices (OSPs) for […]