Halfway into an OPEC-led oil supply cut, Asia remains awash with fuel in a sign that the group's efforts to rein in a global glut have so far had little effect. The Organization of the Petroleum...
Prices of petroleum products have dropped at the pumps by 2-3%, according to the Chamber of Petroleum Consumers. “Indications from some of the major downstream players point to some 2-3% reductions...
OPEC countries are complying with a landmark deal to reduce a worldwide glut in oil, but global supplies nevertheless increased in February, the International Energy Agency said on Wednesday. "The...
Saudi Arabia is committed to stabilising the global oil market, the energy ministry of the world's biggest oil exporter said on Tuesday, as prices fell below $48 a barrel. OPEC and non-OPEC countries...
The Chamber of Petroleum Consumers (COPECGH) has charged relevant authorities in the country to ensure that unreasonable fuel price increments are curtailed. According to a press release signed and...
OPEC compliance with oil output reductions has exceeded the target because of higher Saudi cuts, Kuwaiti Oil Minister Essam al-Marzouk, head of a committee overseeing the decreases, said Wednesday....
The United States almost tripled the volume of crude oil bought from Nigeria last year, seven years after it began depending less on the country ‘s crude. This comes as the Shale oil production...
The energy sector is the stock market's dud so far in 2017 after a banner performance in 2016, and the rest of the year may also be rocky for investors due to the unclear path for crude oil prices....
The biggest names in the oil world come together this week for the largest industry gathering since the end of a two-year price war that pitted Middle East exporters against the firms that drove the...
Dr Steve Manteaw, Chairman of the Civil Society Platform on Oil and Gas (CSPOG), writes to President Akufo-Addo on some of the key governance challenges that thwart efforts at fully harnessing the...
Nigeria’s gross domestic product fell by 1.5 per cent in 2016 due to lower oil revenues, the National Bureau of Statistics said on Tuesday, for its first annual contraction in 25 years. Africa’s...
THE long-standing agitation by some chiefs and people of the Western Region for the allocation of 10 percent of oil revenue has received a renewed sense of hope with the newly-appointed minister for...
Iraq's proven oil reserves have increased by 10 billion barrels to 153 billion, Oil Minister Jabbar al-Luaibi announced Sunday in a statement. The country has the world's fifth largest reserves...
Iran said in January its daily output was close to 3.9 million barrels. Iran expects its oil production to reach 4 million barrels per day by mid-April, and plans to drill 500 new wells over the next...
U. S. shale producers are facing their first production cost increase in five years in 2017 as industry activity picks up and energy service providers hike fees to take a bigger share of the profits...
All things being equal, fuel prices will not travel beyond 15 percent increase in 2017, some industry analysts anticipate. This is largely due to a forecast that the price of oil will end the year at...
Renewed drilling by US oil producers is keeping a ceiling on a global crude price recovery, cutting into the impact of deep reductions by other major producers, OPEC said Monday. In its latest oil...
The OPEC oil cartel has implemented more than 90 percent of its agreed output cuts aimed at curbing a glut on world markets, Kuwait's oil minister said on Monday. OPEC and non-OPEC producers...
An OPEC-led production cut may well be accelerating a drawdown in global oil stocks that began last year, but implementing the reduction for just six months means the producer group will fall short...
Oil edged further above $55 a barrel on Wednesday supported by signs that Russia and OPEC producers are delivering on promised supply reductions, although a report showing a large rise in U. S. crude...
