The worst is over for oil market, Saudi Energy Minister assures
Prince Abdulaziz bin Salman, Saudi Arabia’s Energy Minister has said that the worst was over for the oil market.
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Orsted’s Brostrom leads Shell’s renewables unit
Royal Dutch Shell RDSa.L has hired Orsted's ORSTED.CO North America Chief Thomas Brostrom as Senior Vice President for its Global Renewable Solutions department starting next year, a Shell spokesman said on Friday.
Oil price to average $44 in 2021 – World Bank
The World Bank has said that oil prices won’t be rising much next year either but would average $44 per barrel, saying that prices will not recover to pre-pandemic levels at least until 2022.
Oil, gas firms raise N400bn from capital market – NSE
The Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Mr Oscar Onyema, has said oil and gas companies raised over N400 billion across several asset classes using the platform in recent years.
U.S. crude supplies rise as gasoline draws down
A data from the American Petroleum Institute showed on Tuesday that U.S. crude oil stocks rose last week while gasoline and distillate inventories fell.
Saudi records 5.97m bdp crude exports in August
An official data presented by the Joint Organizations Data Initiative (JODI) on Monday showed that Saudi Arabia’s crude oil exports edged up for a second consecutive month to 5.97 million barrels per day (bpd) in August, from 5.73 million bpd in July.
Aramco, SABIC reviews crude-oil-to-chemicals project
Oil giant Saudi Aramco and petrochemical producer, Saudi Basic Industries have decided to reevaluate their $20 billion crude-oil-to-chemicals project and are now looking at integrating existing facilities instead.
OPEC+ assures oil prices won’t plunge again
OPEC’s Secretary-General, Mohammad Barkindo said on Thursday that the OPEC+ alliance will ensure oil prices do not plunge steeply again when it meets to set policy at the end of November, adding that demand has been recovering more slowly than expected.
NNPC releases 2019 audited financials, reports N1.7bn loss
The Nigerian National Petroleum Corporation, NNPC, has announced the release of its 2019 Audited Financial Statement, declaring a loss of N1.7 billion, representing a 99.7 per cent decline from a loss of N803 billion recorded in 2018.
ConocoPhillips moves to acquire rival Concho Resources
Oil explorer ConocoPhillips is in talks to purchase rival Concho Resources Inc., as one of America’s largest independent oil explorers looks to make a bold bet on shale during a historic industry downturn.