Russia says, OPEC+ output cuts have stabilized the global oil market but can’t last forever as uncertainty persists over the future of the agreement beyond March. In an interview with state television channel Rossiya24, OEnergy Minister Alexander Novak revealed saying, “cuts can’t be eternal; we will gradually need to make a decision on exiting”.
The Federal Government has given a go-ahead to the 650,000 barrels per day capacity Dangote Refinery and Petrochemicals Plant with crude oil feedstock.
Nigeria, Africa’s biggest oil producer, has been making various moved to get its refineries to properly function in order to cut off the importation of fuel.
President of Chevron’s North American business, Steve Green, yesterday, was insistent that the current shale patch will not be a victim to historic boom-and-bust cycles that have constantly been affecting the Texas oil economy for years.
Royal Dutch Shell is set to begin operations in its concession areas in Egypt from July 2020, a senior executive revealed.
The U.S. crude oil production in the U.S. Federal Gulf of Mexico (GOM) has set a new annual record of 1.8 MMbpd in total average in the year 2018 and is likely to do the same in 2019 to 2020.
The group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari has disclosed that the corporation has agreed to a $2.5 billion financing for the pipeline project in Nigeria from a Chinese lender.
Sanction-bound country Iran has devised methods to transport its crude oil undetected, leaving many cargo tracking firms unable to come up with concrete data and leaves the media too quick to report numbers that become inconclusive by the time the story is released.
Saudi Arabia, the world’s top crude oil exporter, has devised new plans to increase its oil prices through the cutting of its production and shipments.
Israel Energy Minister, Yuval Steinitz, has revealed that Israel will begin natural gas exports to Egypt within four months. In an interview, Steinitz said the deal to buy stakes in the EMG pipeline between Ashkelon in Israel and El-Arish in Egypt was almost closed and would be completed in “the next few weeks”. According to Reuters, the flow…