Tenders keep Spot Trade For Nigerian Crude On Hold As Bonga Maintenance Ongoing

Spot deals were on hold on Tuesday, traders said, indicating that a number of Asian tenders are due to close this week and sellers did not want to disclose their positions, Reporters reports. Allocations from Nigeria’s NNPC have been announced, traders said, with spot trade due to resume by the end of the week. Nigerian demand […]

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‘Oil Investments, Jobs Returning’

The oil sector seems to be looking bright again. Multi-billion dollar investments are returning to the table. This  may in turn lead to the return of thousands of oil-industry jobs lost to the bust, Wood Mackenzie Ltd, a global energy consulting firm, said at the weekend. More than $11 billion of transactions were announced globally in […]

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OPEC Predicts Rise In Crude Oil Price Next Month

The Organization of Petroleum Exporting Countries, OPEC, yesterday said it was confident that the prices of crude oil would rise by next month as against the current low prices at the International market. OPEC’s President, Mohammad Al-Sada, contended that the rise would be as a result of expected higher demand ahead of the winter season […]

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Nigeria, Others Record 26% Job Cut In Oil Production

Data obtained from the United States, US, Energy Information Administration, EIA, has put the continued decline of employment in the oil and natural gas production across the world at 26 percent between 2014 and 2016. The report, which captured between October 2014 and May 2016, stated that employment in oil and gas production reached a […]

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