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Ministers Paint Stark Picture of Syria Economy
With oil production at its lowest in years, a total halt in phosphate exports and power generation sharply reduced,...
132,500 Barrels of Oil Produced Daily In First Quarter
Gross sales volumes of crude oil in the first quarter of 2017 averaged approximately 132,500 barrels of oil per day...
US Increases Imports of Nigerian Crude By 287%
The United States almost tripled the volume of crude oil bought from Nigeria last year, seven years after it began...
Petrol, Diesel Prices To Go Up By 3 Percent Next Week
The Institute of Energy Security (IES) has predicted a percent increase in fuel prices next week. According to the...
Oil To End Year At US$57
All things being equal, fuel prices will not travel beyond 15 percent increase in 2017, some industry analysts...
Tullow Reduces 2017 Oil Output By Over 5000 Barrels
Tullow Oil has cut down its 2017 oil projection from Ghana’s Jubilee oilfields by 5200 barrels. The figure has...
Oil Prices Fall After Sharp Rise In U.S. Stockpiles
Oil prices fell on Thursday after official data showed U. S. crude and gasoline stockpiles rose sharply, although signs...
Oil Edges Further Above $55 On Russia, OPEC Cuts
Oil edged further above $55 a barrel on Wednesday supported by signs that Russia and OPEC producers are delivering on...
Oil Higher After Saudi Arabia Cuts Output, China Imports Rise
Crude prices edged up in early Friday trade following reports that major producers have started cutting production as...
Nigeria Lists Companies Allowed To Lift Crude Oil In 2017
Nigeria National Petroleum Corporation (NNPC) has revealed the names of the 39 companies that will buy its crude oil...
Oil Prices Rise In Anticipation of Tighter 2017 Market
Oil prices rose on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and...
Review of Fuel Prices In First Nov. Pricing Window Shows Marginal Fall
According to the Institute of Energy Security, trading activities within first pricing window for the month of November...
Oil Prices Slip As OPEC, IEA Data Underscores Crude Glut
Oil prices slipped on Friday as the market refocused on a persistent supply overhang that is not expected to abate...
Nigeria, Libya Output To Push Down Oil Price
Oil production from members of the Organisation of Petroleum Exporting Countries (OPEC) may have reached a new record,...
Fuel Prices To Remain ‘fairly Stable’ In First November Pricing Window
The Institute Energy Studies (IES) has published its bi-weekly forecast of the petroleum market, projecting that petrol...
Third Quarter Earnings From Crude Exports Decrease To $19.5 Million
Government’s earnings from crude exports witnessed a significant reduction for the third quarter of this year. Latest...
Petrol To Rise, Diesel Will Be Same
Within the first week of the second pricing-window for September 2016, petrol and diesel prices fell by an average of...
Petrol To Rise Marginally, Diesel To Remain Unchanged
The Institute for Energy Security (IES) projects petrol prices to rise marginally whilst diesel price on the local...
Ghana Could Be Africa’s Fourth Biggest Oil Producer By 2020
Ghana could become the fourth biggest oil producer in sub-Saharan Africa by 2020 once two new offshore fields come on...