Following the Middle East crisis sparked by US-Israeli strikes in Iran, natural gas prices spiked by nearly 50% on Monday after QatarEnergy, one of the world’s biggest exporters, halted production following “military attacks” on its facilities. The oil and gas prices surge, BBC reports, is just as Iran continues to launch …
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There were fears, weekend, as the price of Nigeria’s premium oil grade, Bonny Light, dropped to $73.87 per barrel, from $76.37, recorded last week, indicating a fall of three per cent. The Federal Government had benchmarked the 2023 budget at $75 per barrel and 1.8 million barrels per day, bpd, …
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Neconde Energy Limited, a leading independent oil and gas company in Nigeria, says the passage of the much-awaited Petroleum Industry Bill (PIB) into law by the government will cause a paradigm shift that will lead to the development of the energy sector and the country. Chichi Emenike, Head of Gas …
Read More »Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia were likely to keep withholding supplies, and in relief that the United States and Mexico averted a trade war that would have damaged the global economy. Front-month Brent crude futures, the international benchmark for oil prices, …
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OPEC Secretary-General Mohammad Barkindo said on Monday Nigeria has no intention of going beyond its oil production target of 1.8 million barrels per day (bpd) until the end of March 2018. Barkindo made this known at the opening of the fourth Joint OPEC-non-OPEC Ministerial Monitoring Committee in St. Petersburg, Russia. …
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An advocacy group in the Niger Delta, the Grassroots Initiative for Peace and Social Orientation, has advised the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, to stop frustrating the peace process in the region. GIPSO said the minister’s alleged selective town hall meetings with some groups and ex-militant …
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The Niger Delta Avengers on Thursday threatened that it will declare a Niger Delta Republic on October 1 should President Muhammadu Buhari fails to restructure the country. It also said the group is praying for the Buhari-led federal government to discover oil in commercial quantity in the northern part of …
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