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America dethrones OPEC at oil export market
ExxonMobil finds substitute to Nigeria’s light sweet crude in Guyana Sopuruchi Onwuka The American continent is projecting strong outlook for oil output in the year, claiming the status of swing producer from non-American members in the multilateral Organization of Petroleum…
Namibia aspires for OPEC membership
Namibia could consider joining OPEC if recent offshore oil discoveries prove to be large enough for commercial development, Namibian petroleum commissioner Maggy Shino told Bloomberg on Wednesday, as oil majors that have made recent discoveries prepare for appraisal drilling. TotalEnergies…
Nigeria to earn $40bn of OPEC’s $842 bn export income in 2022
Sopuruchi Onwuka Real income from crude oil exports for Nigeria’s fiscal funding will reach $37 billion by the end of 2022 but there are high chances that the country could muster significant $40 billion in the year, according to projections…
OPEC Secretary General, Barkindo, is dead
Sopuruchi Onwuka Secretary General of the Organization of Petroleum Exporting Countries (OPEC), His Excellency, Dr Mohammed Barkindo is dead! Dr Barkindo who delivered a keynote address at the opening ceremony of the Nigeria Oil and Gas (NOG) conference and exhibition…
Citi blames price surge on Ukraine war, values crude oil at $70
Global investment bank and industry advisory firm, Citi Group has thrown support for the position of the Organization of Petroleum Countries (OPEC) on the surging crude oil prices, saying that the prevailing strong prices are not a product of fundamental…
Strong oil prices to accelerate Nigeria’s economic recovery _OPEC
Inflation remains a challenge Sopuruchi Onwuka Nigerian economy which is currently suffering galloping inflation, high unemployment rate and harsh business environment will find relief from anticipated investments in the hydrocarbon industry and improved oil revenue within the year. The Organization…
No, OPEC+ builds oil value to 2008 levels
Sopuruchi Onwuka The taunt by international media outlet, Reuters, that the Organization of Petroleum Exporting Countries’ coalition members (OPEC+) lose money by not flooding the market with oil at a time high prices might be based on very wrong assumptions…
Oil prices dive below $100/bbl as demand softens
Oil prices took a dive Tuesday after surfing close to the 2008 record levels, with all major benchmarks shedding market value. The development came as key economies of the world contend with new waves of the coronavirus pandemic, Iran begins…
Barkindo relieves OPEC of responsibility in Russian oil sanctions
Sopuruchi Onwuka World’s key oil producers’ bloc, the Organization of Petroleum Exporting Countries (OPEC), has declared that it would not take responsibility in geopolitical tension that currently propels price jumps in the global oil market. Secretary General, HE Dr Mohammed…
OPEC, IEA see stronger oil demand, rising prices
Sopuruchi Onwuka Figures and forecasts by the world’s oil market antagonists, the Organization of Petroleum Exporting Countries (OPEC) and International Energy Association (IEA) confirm that galloping demand propels increase in the prices of crude oil and natural gas liquids. Whereas…
