OPEC production falls to six month low

Mohammed Barkindo, Secretary General, OPEC        Credit: REUTERS Oil market may not stabilize before end of 2018 despite Organization of the Petroleum Exporting Countries (OPEC) production reaching six month low in November as U.S. production continues to increase than expected. The Wall Street Journal quoted the oil cartel to have said Wednesday More...

by Felix OLOYEDE | Published 23 hours ago
By Felix OLOYEDE On Monday, December 4th, 2017
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OPEC Crude Output Drops to Six-Month Low

Mohammed Barkindo, OPEC Secretary General Crude production from the Organization of Petroleum Exporting Countries dropped again in November to a six-month low. Total production fell 80,000 barrels a day to 32.47 More...

By Okey Onyenweaku On Monday, November 13th, 2017
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YolaDisCo sale stalled as no potential buyers emerge

By ADEBAYO OBAJEMU Two years after the core investors of the Yola Electricity Distribution Company, YolaDisCo, declared a force majeure owing to their inability to operate under the reign of terror unleased by Boko More...

By Felix OLOYEDE On Wednesday, October 18th, 2017
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FG tasks NNPC to Stimulate Economic Growth through Aggressive Gas Devt

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Baru made this disclosure Dr Maikanti Baru, GMD NNPC on Tuesday in Lagos during a Gas Roundtable meeting for Chief Executives More...

By Felix OLOYEDE On Monday, October 16th, 2017
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Shareholders call for sack of Oando Management as crisis worsens

OKEY ONYENWEAKU These are tough times for local oil and gas giant, Oando Nigeria Plc and not many of its shareholders are smiling. The company Wale Tinubu, MD, Oando Plc. has been embroiled in a series of crisis More...

By Vera Olubi On Sunday, September 17th, 2017
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Planned rehabilitation of refineries challenges past experience of state control

          The state of the country’s refineries is so decrepit that any attempt to delay in selling them would amount to a desire to sell scraps. Though the senate agreed that it should be repaired, More...

By hallmarknews On Tuesday, September 6th, 2016
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Malabu Oil Deal: New Investigation implicates more Nigerians 

Leading Nigerians have been named in an alleged conspiracy to undermine Italian Prime Minister Matteo Renzi and the leadership of the giant state-owned oil major ENI. Details about the alleged conspiracy – which More...

By hallmarknews On Tuesday, September 6th, 2016
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Oil prices rise to U.S. $49.73 on U.S., OPEC speculation

Oil futures rose yesterday largely prompted by production suspensions in the United States Gulf due to an expected tropical storm and speculation that producers meeting in Algeria next month will act to prop up More...

By hallmarknews On Tuesday, September 6th, 2016
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Darkness looms as GENCOs’collapse imminent

Penultimate weekend,   the Nigerian Bulk Electricity Trading Plc, NBET had alleged that it had  paid N186.7billion to Electricity Generating Companies GENCOs adding that  it is only owing them about N156 billion. Reacting More...