According to Reuters, the global benchmark, Brent crude futures, yesterday hit a high of $48.81 per barrel, their highest since July 7, while the United States West Texas Intermediate crude reached $46.21 per barrel, its highest since July 15, before easing to $45.94 per barrel.
Showing posts with label Reuters. Show all posts
Showing posts with label Reuters. Show all posts
Wednesday, 17 August 2016
CRUDE OIL PRICES HIT OVER 5-WEEK HIGHS, BRENT SELLS AT $48.81
The prices of crude oil in the international market yesterday reached their highest levels in more than five weeks due to heightened speculation that the Organisation of Petroleum Exporting Countries (OPEC) would embark on output cuts to prop up prices.
Friday, 3 June 2016
GULF OPEC MEMBERS MAY REVIVE GLOBAL OIL OUTPUT DEAL
Gulf members of Organisation of Petroleum Exporting Countries, including Saudi Arabia, appeared set to revive the idea of coordinated oil-output action by major producers, when the group met on yesterday, which may include establishing a new output ceiling inside the group, OPEC sources said, according to Reuters.Saudi arch-rival and OPEC member Iran said the country was not yet ready for an output pact, but several OPEC sources said the atmosphere inside the group had improved and a compromise was possible.
Read more @ The Guardian
NIGERIA’S OIL OUTPUT RISES TO 1.6 MBPD, BARKINDO APPOINTED OPEC SECRETARY-GENERAL
Nigeria’s crude oil production has climbed to 1.6 million barrels per day (mbpd), following repairs on some of the oil and gas installations damaged by militant groups in the Niger Delta, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, disclosed yesterday.
According to reports from Reuters and Bloomberg, Kachikwu said in Vienna, Austria, where oil ministers of the Organisation of Petroleum Exporting Countries (OPEC) unanimously appointed the former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Mohammed Barkindo, as the cartel’s Secretary-General, that the country’s production had rebounded to this level after it fell to about 1.4mbpd in May due to a string of militant attacks and an accident on the ExxonMobil Qua Iboe export platform.Wednesday, 1 June 2016
BARKINDO MAY EMERGE OPEC SECRETARY GENERAL JUNE 2
The Organisation of Petroleum Exporting Countries (OPEC) is likely to choose a former Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mohammed Barkindo, as the next Secretary-General of the producer group, three sources with knowledge of the matter told Reuters yesterday.
This is coming as OPEC’s oil output fell in May from near a record high, a Reuters survey found on Tuesday, as attacks on Nigeria’s oil industry and other outages outweighed increases in Iran and Gulf members.
Friday, 26 February 2016
NIGERIA’S CRUDE OIL LANGUISHES, AWAITS BUYERS
While Asian traders were mopping up Angola’s crude oil, Nigeria’s crude remains in ample supply, languishing as it waits buyers.
According to Reuters, Nigeria’s Erha programme surfaced after weeks of delays that traders said related to a disagreement between state oil firm Nigerian National Petroleum Corporation (NNPC) and the field operator, Exxon-Mobil.
Wednesday, 24 February 2016
MAINTENANCE WORK ON LNG TRAIN TO LAST TILL APRIL
The Nigeria LNG Limited says it is carrying out scheduled maintenance work on one of its six Liquefied Natural Gas trains.
The maintenance of the train would last till the first week of April, the company said on Monday.
“It started on January 25 and will run for 70 days and there are no production challenges,” the NLNG spokesperson, Anne-Marie Palmer-Ikuku, was quoted by Reuters as saying.
Tuesday, 23 February 2016
CRUDE OIL PRICE RISES BY OVER 6%
Crude oil prices monday rose by over six per cent after the world’s oil consumer body, the International Energy Agency (IEA), said it expected United States shale production to fall this year and next, potentially easing a glut that has driven prices to their lowest in more than a decade.
Reuters reported that a bounce in global stock markets and the after-effects of a fall in the US oil rig count last week also supported prices.
Monday, 15 February 2016
KACHIKWU: OPEC MEMBERS INCREASINGLY KEEN TO END OIL GLUT
The mood inside the Organisation of the Petroleum Exporting Countries (OPEC) is shifting from mistrust to a growing consensus that a decision must be reached on how to end the global oil price rout, Nigeria’s oil minister told Reuters.
Oil prices have slumped by more than 70 per cent to near $30 a barrel over the past 18 months as OPEC, led by top producer Saudi Arabia, sought to drive higher-cost producers out of the market by refusing to cut production despite a supply glut.
Friday, 18 September 2015
US DEMAND FOR NIGERIAN CRUDE RISES
Nigerian crude oil differentials were stable on Thursday, with traders saying that demand from Europe and the United States has offset weaker demand from Asian buyers. According to Reuters, traders said purchases of Nigerian oil for October from the US were at significantly higher levels than for earlier months
Thursday, 9 July 2015
FG TO PAY N159BN SUBSIDY DEBT TO MARKETERS
The Federal Government has reportedly agreed to pay outstanding subsidy claims of N159bn to oil marketers, who import refined petroleum products into the country although some of the marketers say the debt has climbed to N300bn.
“They (government) agreed to pay the remaining balance last week. Nothing has come yet but maybe this or next week. It is N159bn” the spokesperson for the Independent Petroleum Marketers Association of Nigeria, Yakubu Suleiman.
Monday, 22 June 2015
TRANSITION COMMITTEE ADVISES BUHARI TO REMOVE FUEL SUBSIDY
The transition committee set up by President Muhammadu Buhari shortly after he was declared the winner of the March 28 presidential election advised him to end the fuel subsidy programme and privatise the nation’s four refineries.
Senior sources in the All Progressives Congress, told Reuters of the recommendation on Sunday.
Thursday, 4 June 2015
NIGERIA'S CHEAP CRUDE OIL ATTRACTS CANADA'S REFINERY
With Nigeria struggling to sell its crude oil, the discount being offered by the country has prompted Canada’s Come By Chance refinery to buy Nigerian oil for the first time in at least a decade.
This is the latest addition to the facility’s diverse crude slate, according to Reuters customs data. The purchases come as West African crude producers are courting new suitors in the face of weak demand from a United States market awash with cheaper, domestic crude.
Tuesday, 30 September 2014
NIGERIA’S MONTHLY CRUDE EXPORT TO HIT 35.7M BARRELS IN NOV
The monthly crude loading and exports from Nigeria will be 35.7 million barrels in November, the loading schedule has revealed. Reuters, which gave his hint, had reported earlier that the daily exports in November has reached 1.19 million barrels per day, the highest in 14 months.Crude exports schedule are done ahead and this makes the November loading programme to be the latest in the global crude market. The schedule revealed that Nigeria would export around 1.91 million barrels per day (bpd) of crude oil in November This is the highest level since September 2013.
Read more @ New Telegraph
Subscribe to:
Posts (Atom)