Oil traded near a 2-week low as an increase in U.S. fuel stockpiles spurred concern that demand is waning in the world's biggest crude consumer. (Bloomberg) -- Oil traded near a two-week low as an increase in U.S. fuel stockpiles spurred concern that demand is waning in the world’s biggest crude consumer. Futures were little …
NNPC, Shell to Grow Oil Reserves
NNPC GMD, Mallam Mele Kyari, and Managing Director of Shell Petroleum Development Company (SPDC) and Chairman of Shell Companies in Nigeria, Mr. Osagie Okunbor, in a heart-to-heart discussion during the visit The Management of the Nigerian National Petroleum Corporation (NNPC) and its age-long partner, Shell Petroleum Development Company (SPDC), on Tuesday expressed resolve to grow …
ADM Energy (ex-MX Oil) names new CEO
ADM Energy, an oil and gas investing company until recently known under the name of MX Oil, has appointed a new CEO. The AIM-listed company with a share in the oil-producing Aje offshore oil field in Nigeria, said Monday that Osamede Okhomina, 48, would take over the CEO Position. According to ADM Energy, Okhomina, who has …
Crude Oil Edges Downward
WTI and Brent crude oil finished lower again Wednesday. West Texas Intermediate (WTI) and Brent crude oil finished lower again Wednesday, weighed down in part by the prospect of new U.S. tariffs on Chinese goods and the effect they would have on demand. The August WTI contract settled at $56.78 per barrel Wednesday, reflecting an 84-cent decline. …
Trump Warns Trade War Can Escalate
U.S. President Donald Trump has warned that the U.S.-China trade war can ratchet up further, if the United States wants. U.S. President Donald Trump has warned that the U.S.-China trade war can ratchet up further, if the United States wants. In a cabinet meeting on Tuesday, Trump said, “we have a long way to go …
Oil Holds Losses as Global Demand Fears Rekindle
Oil held its biggest loss in two weeks as President Donald Trump's threat of new tariffs on Chinese imports rekindled fears about global demand. (Bloomberg) -- Oil held its biggest loss in two weeks as President Donald Trump’s threat of new tariffs on Chinese imports rekindled fears about global demand, while the U.S. signaled …
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African Petroleum to combine with PetroNor in June
zoomAfrican Petroleum's Senegal assets; Source: AP Independent oil and gas company African Petroleum has set the expected date for the completion of the proposed merger with a privately held Africa-focused company PetroNor. African Petroleum agreed to combine with PetroNor for an all-share consideration of around 816 million shares in African Petroleum in March 2019. The company …
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Independents Dominate US Energy Markets
by  Matthew V. Veazey Rigzone Staff A new IPAA-funded study projects a growing economic impact from US independents. Independent oil and gas companies dominate U.S. energy markets, contributing 83 percent of the country’s oil output and 90 percent of domestic natural gas and natural gas liquids (NGL) production. Those are two findings in a …
Oil Rises
by  Bloomberg Saket Sundria | Oil climbed above $59 a barrel as a report signaling a bigger-than-forecast drop in U.S. crude stockpiles added to concerns global supply is tightening. (Bloomberg) -- Oil climbed above $59 a barrel as a report signaling a bigger-than-forecast drop in U.S. crude stockpiles added to concerns global supply is …
Oil Set for Biggest Weekly Drop of 2019
by  Bloomberg Tsuyoshi Inajima  Oil headed for its biggest weekly drop since December as the rapidly escalating trade war caused investors to reassess the outlook for global growth. (Bloomberg) -- Oil headed for its biggest weekly drop since December as the rapidly escalating trade war caused investors to reassess the outlook for global growth, …
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