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Respite is coming the way of Nigeria which has been battling with the double crisis of falling oil price occasioned in main by the pandemic and OPEC agreed cut in oil production as the country is expected to export its highest oil level ever to China in June. According to Viktor Katona, an expert at…
May 29, 2020
Two months ago, Russia said no to Saudi Arabia's proposal for deeper oil production cuts. It was enough to start a price war that, coinciding with the Covid-19 pandemic, wiped out billions in oil revenues for both Russia and Saudi Arabia while forcing them to enact even deeper cuts than previously discussed. Some say the…
May 28, 2020
In a move aimed at ensuring that Nigerians enjoy uninterrupted power supply, President Muhammadu Buhari has directed the Ministries of Power, Finance, and the Bureau of Public Enterprise (BPE) to seal the deal between the country and Siemens AG. This directive was issued via the Presidency’s Twitter handle on Wednesday and will kick-start the pre-engineering…
May 28, 2020
Following reaffirmation by countries like Saudi Arabia, the United Arab Emirates (UAE) and Iraq to comply with the decision of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production by 9.7mbpd, global oil market is expected to rebalance in two months. This is according to statement credited to Russia’s Energy Minister, Alexander…
May 27, 2020
The Major Oil Marketers Association of Nigeria, MOMAN has disclosed that if the petroleum downstream sector is to play its pivotal and fundamental role in the resuscitation of the nation’s economy, there is a need for full deregulation of the sector. MOMAN and other stakeholders, including the Depot and Petroleum Products Marketers Association of Nigeria…
May 24, 2020
American multinational investment bank and financial services company, Goldman Sachs has projected that the Organization of Petroleum Exporting Countries(OPEC )will regain its position as a dominant force on international oil markets after the world emerges from the current oil crisis. This was contained in a report titled "Top Projects 2020 " projected by Goldman Sachs…
May 23, 2020
Following reports that the Petroleum Products Pricing Regulatory Agency, PPPRA has issued permits to several Oil Marketing Company’s OMCs to start importing petrol alongside the Nigerian National Petroleum Corporation NNPC, a firm has said gains from such an initiative could be short-lived. The Firm, CSL Stockbrokers Limited posited that while there might be a slight…
May 23, 2020
FG To Appeal UK Court Ruling After a United Kingdom Court ruled against Nigeria in the country’s pursuit of justice over the controversial Malabu deal, saying the $1 billion lawsuit against international oil giants Shell and Eni could not go ahead in England, Global Witness, an international Non-Governmental Organization has stated that the country deserves…
May 23, 2020
Declines Jurisdiction Over Duplication of Proceedings Rules Against Shell's Position On FG's Initial Application Justice Butcher of the English Commercial Court, few minutes ago has declined jurisdiction on Nigerian government's $1bn lawsuit against Shell and Eni over alleged bribery and criminality in the massive OPL 245 deal, directing the Federal government to focus on the…
May 22, 2020
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Respite is coming the way of Nigeria which has been battling with the double crisis of falling oil price occasioned in main by the pandemic and OPEC agreed cut in oil production as the country is expected to export its highest oil level ever to China in June. According to Viktor Katona, an expert at…
May 29, 2020
Two months ago, Russia said no to Saudi Arabia's proposal for deeper oil production cuts. It was enough to start a price war that, coinciding with the Covid-19 pandemic, wiped out billions in oil revenues for both Russia and Saudi Arabia while forcing them to enact even deeper cuts than previously discussed. Some say the…
May 28, 2020
In a move aimed at ensuring that Nigerians enjoy uninterrupted power supply, President Muhammadu Buhari has directed the Ministries of Power, Finance, and the Bureau of Public Enterprise (BPE) to seal the deal between the country and Siemens AG. This directive was issued via the Presidency’s Twitter handle on Wednesday and will kick-start the pre-engineering…
May 28, 2020
Following reaffirmation by countries like Saudi Arabia, the United Arab Emirates (UAE) and Iraq to comply with the decision of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production by 9.7mbpd, global oil market is expected to rebalance in two months. This is according to statement credited to Russia’s Energy Minister, Alexander…
May 27, 2020
The Major Oil Marketers Association of Nigeria, MOMAN has disclosed that if the petroleum downstream sector is to play its pivotal and fundamental role in the resuscitation of the nation’s economy, there is a need for full deregulation of the sector. MOMAN and other stakeholders, including the Depot and Petroleum Products Marketers Association of Nigeria…
May 24, 2020
American multinational investment bank and financial services company, Goldman Sachs has projected that the Organization of Petroleum Exporting Countries(OPEC )will regain its position as a dominant force on international oil markets after the world emerges from the current oil crisis. This was contained in a report titled "Top Projects 2020 " projected by Goldman Sachs…
May 23, 2020
Following reports that the Petroleum Products Pricing Regulatory Agency, PPPRA has issued permits to several Oil Marketing Company’s OMCs to start importing petrol alongside the Nigerian National Petroleum Corporation NNPC, a firm has said gains from such an initiative could be short-lived. The Firm, CSL Stockbrokers Limited posited that while there might be a slight…
May 23, 2020
FG To Appeal UK Court Ruling After a United Kingdom Court ruled against Nigeria in the country’s pursuit of justice over the controversial Malabu deal, saying the $1 billion lawsuit against international oil giants Shell and Eni could not go ahead in England, Global Witness, an international Non-Governmental Organization has stated that the country deserves…
May 23, 2020
Declines Jurisdiction Over Duplication of Proceedings Rules Against Shell's Position On FG's Initial Application Justice Butcher of the English Commercial Court, few minutes ago has declined jurisdiction on Nigerian government's $1bn lawsuit against Shell and Eni over alleged bribery and criminality in the massive OPL 245 deal, directing the Federal government to focus on the…
May 22, 2020
