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Oil Tip – World Billionaires in Oil and Energy

It is not news that the oil and gas industry is a very lucrative one. Little or no wonder why some of the investors in the industry are billionaires in the world. We would be sharing the top billionaires in the Oil and Energy industry according to Forbes 2016. The list is an amazing compilation of great industry leaders. The people on this list…

Standard Oil: World’s First Multinational Oil Corporation

Many people with interest in the oil and gas industry are not familiar with the story of the world’s first largest oil corporation. Standard Oil, established in 1870 by John D. Rockefeller and Henry Flagler, was the largest oil corporation in its time before it was pulled down. It was an American oil producing, transporting, refining, and

Top Ten Oil Companies

The oil industry is a very lucrative one with multinational companies leading. The oil business is not small business as it is very crucial to human life as well as to the economy of the world. This discusses the top ten companies by oil production, in the world. This ranking comes from Offshore Technology and the production statistics from

John D. Rockefeller: The World’s First Oil Baron

The oil industry has not got its reputation overnight but from years of relevance. In the history of America, and in extension, the world, oil and gas has been key to development and industrialization. One of the biggest stories of the industry is that of the great oil baron, John D. Rockefeller, and his Standard Oil. As the popular series “The

The Stream in the Oil Industry

The three major sectors in the industry (upstream, midstream and downstream) do not explain themselves on first sight. For people not familiar with the industry, the terms may be very strange to them. These components basically simplify the oil industry by structuring the complexities into simpler categories. From production to its end-product,

Brent Crude versus West Texas Intermediate (WTI)

Although there are three primary oil benchmarks, Brent crude and WTI are the most popular in the world. Benchmarks serve as a reference price for buyers and sellers of crude oil. It is usually referred to as the price of oil. Brent and WTI may be oil benchmarks but they contrast on essentialities. One of the essential differences is in the prices

Oil blocks in Nigeria

As one of the world’s leading crude oil depot, Nigeria has a good number of oil blocks in the country. Crude oil is Nigeria’s richest export and contributes a lion share to the country’s economy. The industry has enriched Nigeria so much so that the government had to create a special account to store the excess returns gotten from the industry. A

Major petroleum companies in Nigeria

As an oil-rich nation, Nigeria poses as a very tempting destination for oil and gas production companies. The country currently has quite a number of oil and gas companies doing well for themselves. These companies do not only produce oil and gas, but many of them also partake in the business of selling the end products of crude. These petroleum

The history of the oil and gas industry

Oil and gas is a multi-million dollar, international industry which began many years back. Oil has been relevant in some capacity for thousands of years, such as lamps. Lamps began to lose its relevance as soon as safe electricity was discovered. This initially had an impact on oil but it soon restored its importance as other industries and

How oil majors survived huge price decline in 2018: lessons for local oil firms

The oil market witnessed a 40 percent decline in the value of oil prices in the fourth quarter of 2018. This shook major oil producers in the world - ExxonMobil, Chevron, Shell, and others. Yet, the decline did little to hinder the companies from reporting strong results. The oil giants took some steps to combat the ugly situation last year.
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