By Udeme Akpan, Energy Editor, Peter Egwuatu, Victor AhiumaYoung & Godwin Oritse LAGOS — Implementation of the 2023 budget of N21.8 trillion is currently threatened as the n… Read More

THE Nigerian Bureau of Statistics, NBS, said Nigeria’s average oil production dropped by 14.69 per cent year-on-year, YoY to 1.22 million barrels per day, mb/d in the second quarter of… Read More

Nigeria’s crude oil output dropped to 1.29m barrels per day, bpd in July, according to the latest oil regulator report. Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclo… Read More

Global Wellhead Equipment Market is expected to grow due to discovery of new oil and gas fields & growth in exploration and drilling activities during the forecast period of 2024-2028. A… Read More

As Nigeria’s output level drops to a new low, Angola has now surpassed it as the continent’s biggest producer of crude oil. Angola produced 1.06 million barrels per day (mbpd) of… Read More

New Delhi: International crude oil prices traded flat on Friday after a surge in the previous session due to concerns of supply disruption. At 5.25 pm, the September contract o… Read More

Oil and gas condensate output seen at 520 mln tonnes in 2023 * Oil output seen in line with pledges to cut production * Outlook is higher than official forecasts of 490-500 mln T * This cont… Read More

The steep discounts India enjoyed on Russian crude oil through most of FY23 have plunged, two government officials aware of the development said, as China boosted purchases and oil producers… Read More

From 3.98% a year earlier, Nigeria’s oil theft coupled with deferred investment in Nigeria’s oil industry has caused the country’s economy growth to slow to 3.52% in the fo… Read More

CNBC-TV18, India’s leading business news channel, concluded the highly anticipated 18th edition of the most-coveted awards – The India Business Leaders Awards (IBLA) 2023,&n… Read More

That Nigeria has lost a lot of revenue from oil is a fact. However, unknown to many, 40 per cent of this is caused by measuring inaccuracies in the system. Determined to put a stop to this… Read More

The United States oil and gas downstream market is expected to register a CAGR of 0.92% during the forecast period. On account of factors, such as abundant feedstock availability from the Sh… Read More

The Shale oil market is expected to grow at a CAGR of more than 2% over the period. Factors such as an increase in consumption of oil and rising growth in the oil dependent industries are ex… Read More

The Nigeria Bureau of Statistics [NBS] has released a report stating that oil production in Nigeria dropped to an average daily production of 1.20 million barrels per day (mbpd). This is… Read More

Global oil prices fluctuated yesterday at the start of trading, before climbing back up as demand concerns and economic uncertainty continue to weigh on energy markets. Prices were down… Read More

The OPEC+ ministers’ decision to institute a headline 2-million-barrel-per-day (mbpd) production cut among the cartel’s member states this week can only be interpreted through th… Read More

US Oil And Gas Exports Are Fueling Higher Domestic Prices Authored by Kurt Cobb via OilPrice.com, In the last decade, the U.S. oil and gas industry won a long-fought battle t… Read More

Angola´s daily oil production average for April stood at 1.1 million barrels, of the predicted 1.2 million barrels per day, less than 115,047 barrels of crude oil, ANGOP has learnt. Th… Read More

The Senate has passed the 2021-2023 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) while pegging the crude oil benchmark at $40 per barrel for the 2021 budget… Read More

With crude oil consumption expected to decline by about 9 million barrels per day (mbpd) to 90.6 million barrels per day (mbpd) in 2020 due to the outbreak of coronavirus, operators in oil a… Read More