Oil price rose above $56 per barrel on Tuesday due to Saudi Arabia’s plan to limit supply offsetting worries that rising coronavirus cases globally would curtail fuel demand.
Iran’s Oil Minister Bijan Zanganeh has announced that foreign energy firms and contractors have to accept the country’s new terms and conditions if they return to work.
The energy firm, BonnyLight Energy and Offshore Limited has announced the supply of 20,000.00 MT of Premium Automotive Gas Oil (popularly known as diesel) into the Nigerian market.
In a bid to heighten and expand exploration activities and implore revenue generation, the Nigerian National Petroleum Corporation (NNPC) says it will focus on adoption of third-party financing of oil and gas development projects.
An integrated downstream oil and gas company, Rainoil Limited, has been recognised with the ‘2020 Downstream Company of the Year Award’.
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In a statement obtained from the Nigerian Stock Exchange, Eterna Plc announced that some of its shareholders will sell equity holdings in the company to a new investor. The company disclosed that the sale was driven by some of its substantial shareholders. It said the new investor intended to undertake due diligence exercise on the company…
If granted the opportunity, oil marketers are set to fix Nigeria’s dysfunctional refineries and get the facilities running in the shortest possible time.
The latest data obtained from the National Bureau of Statistics have shown that Nigeria spent a total of N1.62tn on the importation of Premium Motor Spirit (petrol) from January to September.
Domestic demand for oil products will peak by 2025 due to COVID impacts and the rise of electric vehicles according to China’s largest refiner, Sinopec.