by Bloomberg Heesu Lee Oil's on track for its worst month in a decade on growing fears over a global supply glut that's been exacerbated by American waivers to Iranian crude buyers. (Bloomberg) -- Oil’s on track for its worst month in a decade on growing fears over a global supply glut that’s been …
OPEC daily basket price stood at $59.25 a barrel Wednesday, 28 November 2018
Vienna, Austria, 29 November 2018--The price of OPEC basket of fifteen crudes stood at $59.25 a barrel on Wednesday, compared with $59.05 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), …
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Oil Falls Below $50 for First Time in Over a Year
by Bloomberg Heesu Lee | Oil crashed below $50 a barrel for the first time in more than a year as Russia signaled little urgency to commit to supply cuts. (Bloomberg) -- Oil crashed below $50 a barrel for the first time in more than a year as Russia signaled little urgency to commit …
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Regulate Products Volumes to Border Communities, PPMC Tells MOMAN
To stem cross border leakages and forestall attendant products price hikes, Managing Director of the Petroleum Products Marketing Company (PPMC), Mr. Umar Ajiya, has enjoined Major Marketers Association of Nigeria (MOMAN) to regulate the volumes of petroleum products dispatched to their members’ affiliate stations close to the country’s borders. Mr. Ajiya, who spoke during an …
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OPL 245:THE FULL REPORT ON THE SHELL-ENI BRIBERY SCANDAL
SHELL MALABU SCANDAL
OPEC Meeting Critical Binary Event for Oil Prices
by Andreas Exarheas Rigzone Staff The next OPEC general meeting on December 6 has been described as a 'critical binary event for oil prices'. The Dec. 6 OPEC general meeting has been described as a “critical binary event for oil prices,” in an industry note published by Jefferies on Tuesday. “The Saudis have already …
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Saudi-Russia Oil Powerhouse Faces Test of Unity
by Bloomberg Grant Smith & Dina Khrennikova The most powerful partnership in the global oil market faces its toughest test yet. (Bloomberg) -- The most powerful partnership in the global oil market, which rescued the industry from a deep slump, faces its toughest test yet. Crude has collapsed by more than 30 percent and …
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WoodMac: Return of cyclical inflation could see deepwater cost reduction come to a close
Impending cyclical cost inflation could raise break-even costs in an otherwise healthy deepwater industry, energy analytics company Wood Mackenzie said in its latest report. Illustration; Image by: Berardo62; Source: Wikimedia – under the CC BY-SA 2.0 license In a report published on Tuesday, WoodMac said that the deepwater industry appears in good health, following a sustained cost reduction …
WE WON’T COMPROMISE HSE IN OIL, GAS SECTOR – DPR
The Department of Petroleum Resources (DPR), yesterday said it would not compromise Health, Safety and Environment standards in the nation’s oil and gas industry in line with international safety requirements. The agency also said it would not leave any stone unturned to ensure that operators in the industry comply with set rules with a view …
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Analysts Revise Oil Price Forecasts to 2022
by Andreas Exarheas Rigzone Staff Analysts at Fitch Solutions Macro Research revise their oil price forecasts to 2022 in a new report. Analysts at Fitch Solutions Macro Research have revised their oil price forecasts to 2022 in a new report, which was sent to Rigzone on Tuesday. The analysts now forecast that Brent will …
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