OPEC daily basket price stood at $82.53 a barrel Monday, 11...

opec
Vienna, Austria, 12 October 2021--The price of OPEC basket of thirteen crudes stood at $82.53 a barrel on Monday, compared with $81.54 the previous...

OPEC daily basket price stood at $77.13 a barrel Wednesday, 29...

OPEC
Vienna, Austria, 30 September 2021--The price of OPEC basket of thirteen crudes stood at $77.13 a barrel on Wednesday, compared with...

OPEC daily basket price stood at $78.37 a barrel Tuesday, 28...

Vienna, Austria, 29 September 2021--The price of OPEC basket of thirteen crudes stood at $78.37 a barrel on Tuesday, compared with $77.73...

OPEC daily basket price stood at $78.37 a barrel Tuesday, 28...

OPEC
Vienna, Austria, 29 September 2021--The price of OPEC basket of thirteen crudes stood at $78.37 a barrel on Tuesday, compared with $77.73...

African Energy Bank To Sustain the Continent’s Hydrocarbon Business –...

The call to establish the African Energy Bank To Sustain the Continent's Hydrocarbon Business is due to the passage of the Petroleum Industry Act (PIA), which opens up the oil and gas sector for huge investments.

FG PLANS TO INCREASE O&G – DPR

The Nigeria government has projected to earn $8 billion from Anyala West oil fields development. First E&P oil firm, has announced that oil production from the Anyala West field offshore Nigeria has already commenced. The field is located in Oil Mining Leases (OMLs) 83 & 85, in the shallow waters offshore Bayelsa State and the oil is being produced via the Abigail-Joseph FPSO. The FPSO, owned by Malaysia’s Yinson arrived Nigeria early this year. According to First E&P, the Anyala – Madu field development project will develop 142 million barrels of oil and 98 billion standard cubic feet of gas from the fields in Phase 1. A total of 7 development wells have been planned in Phase 1 and approved by the Department of Petroleum Resources, DPR, in the Anyala West field (OML 83) which will be developed along with the nearby Madu field in (OML 85) to be jointly produced in the Abigail-Joseph FPSO. The FPSO is a 274 meters long converted Suezmax with a storage capacity of 700,000 barrel, oil processing capacity of 60,000 barrels of oil per day, produced water treatment of 20,000 barrels per day, and a gas handling capacity of 39 million standard cubic feet per day. The project will, at its peak, produce about 60,000 barrels of oil per day, unlock over 300 million barrels of crude oil recoverable reserves and create value of over $8bn for the Federal Government of Nigeria over the total lifespan of all phases of the project, First E&P said. The Abigail-Joseph FPSO has been chartered by First E&P on a firm seven-year contract with options to extend until 2035. The firm part of the contract agreed in 2019, was valued at around $901.79 million. The FPSO was previously deployed in Gabon at the Olowi field.
FG plans to increase O&G -DPR. Mr Paul Osu, Head, Public Affairs, Department of Petroleum Resources (DPR),  made this known in a...

Operations Dwindle At ExxonMobil, Others’ After Assets Slash

Oil Prices
The shares of Exxon, Shell and BP have lost over 45 per cent so far this year, more than benchmark Brent oil prices that have lost around 27 per cent and stand today near $48 a barrel.

Nigerians paid N2.15trn for petrol in 12 months, says NNPC

NNPC
NNPC reported that total sales of petroleum products for the period May 2020 to May 2021 stood at 18.651billion litres and PMS accounted for 99.69 percent of total volume.

CBN’S Intervention To Power Sector Dips Balance Sheet By 6%

Power Sector-The balance sheet of the Central Bank of Nigeria (CBN), has been dipped by six per cent, a report by Augusto&...

OPEC daily basket price stood at $74.17 a barrel Thursday, 16...

OPEC
Vienna, Austria, 17 September 2021--c(view archives). The OPEC Reference Basket of Crudes (ORB) is made up of the...

OPEC daily basket price stood at $73.78 a barrel Wednesday, 15...

OPEC
Vienna, Austria, 16 September 2021--The price of OPEC basket of thirteen crudes stood at $73.78 a barrel on Wednesday, compared with $73.29...

OPEC daily basket price stood at $71.82 a barrel Thursday, 9...

OPEC
Vienna, Austria, 10 September 2021--The price of OPEC basket of thirteen crudes stood at $71.82 a barrel on Thursday, compared with $71.17...

The OPEC Ministerial on Energy, Climate and Sustain Development

The first Ministerial Roundtable on Energy (held, Monday, 6 September 2021, via videoconference) The first ministerial roundtable on...

LPG Dealers Demand Reduction of Import Tax On Cooking Gas

Liquefied Petroleum Gas, LPG, dealers in Nsukka, Enugu State, have blamed the rise in the price of LPG also known as...

Maritime University Gets Infrastructure Boost From Shell

The Nigerian Maritime University, Okerenkoko, Delta State, has gotten more infrastructure from Shell Petroleum Development Company of Nigeria Limited (SPDC) and its...

OPEC daily basket price stood at $46.67 a barrel Wednesday, 2...

OPEC daily basket price stood at $41.61 a barrel
Vienna, Austria, 3 December 2020--The price of OPEC basket of thirteen crudes stood at $46.67 a barrel on Wednesday, compared with $46.72...

OPEC daily basket price stood at $46.43 a barrel Monday, 30...

OPEC daily basket price stood at $41.61 a barrel
Vienna, Austria, 1 December 2020--The price of OPEC basket of thirteen crudes stood at $46.43 a barrel on Monday, compared with $46.79...

Week-Ending Quotations of OPEC Reference Basket Price

Week-Ending Quotations of OPEC Reference Basket Price
MonthWeekEndingBasketNovember 202046(13/11)$ 42.03 47(20/11)$ 43.05 48(27/11)$ 46.12Monthly Average:September 2020 $ 41.54 October 2020 $ 40.08Month-to-Date Avg:November 2020 $ 42.42Quarterly Average:3Q20 $ 43.36Quarter-to-Date Avg:4Q20 $ 41.19Yearly Average:2019 $ 64.04Year-to-Date Avg.2020 $ 40.72

OPEC daily basket price stood at $46.66 a barrel Thursday, 26...

OPEC daily basket price stood at $41.61 a barrel
Vienna, Austria, 27 November 2020--The price of OPEC basket of thirteen crudes stood at $46.66 a barrel on Thursday, compared with $46.91...

OPEC daily basket price stood at $46.91 a barrel Wednesday, 25...

OPEC daily basket price stood at $41.61 a barrel
Vienna, Austria, 26 November 2020--The price of OPEC basket of thirteen crudes stood at $46.91 a barrel on Wednesday, compared with $45.51...
- Advertisement -

Get in touch

147,478FansLike
169,789FollowersFollow
78,512FollowersFollow
63,321SubscribersSubscribe