by  Bloomberg Arsalan Shahla and Grant Smith Iran's oil minister warns that OPEC is in danger of collapse. (Bloomberg) -- Iran’s oil minister warned that OPEC is in danger of collapse as some nations seek to undermine their fellow members, an apparent reference to Saudi Arabia’s pledge to fill the supply gap created by U.S. …
NNPC Warns Depot Owners not to Sell Petrol Above N133.28k Per Litre Regulated Ex- Depot Price
… Says Pump Price of Petrol Remains N145 Per Litre The Nigerian National Petroleum Corporation (NNPC) has warned depot owners or terminal operators not to sell Premium Motor Spirit, otherwise called petrol, above the official ex-depot price of N133.28k per litre. The Corporation also cautioned petroleum products marketers not to sell the product above N145 per litre. Ex-depot …
Oil Set for Second Weekly Loss
by  Bloomberg | Heesu Lee Oil headed for its first back-to-back weekly loss this year. (Bloomberg) -- Oil headed for its first back-to-back weekly loss this year as swelling U.S. crude inventories and Russia’s failure to meet a targeted production cut eased fears of a looming supply crunch. Futures in New York edged lower …
Analysts Stick to 2019 Oil Price Forecast
by  Andreas Exarheas Analysts at Fitch Solutions Macro Research still believe the price of Brent crude will average $73 per barrel in 2019. Analysts at Fitch Solutions Macro Research (FSMR) still believe the price of Brent crude will average $73 per barrel in 2019, according to a new report from the company. FSMR analysts …
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Aker Energy takes more time to decide on FPSO Dhirubhai-1 charter
Oil company Aker Energy needs more time to decide whether to charter Ocean Yield’s FPSO Dhirubhai-1. FPSO Dhirubhai-1 / Image source: Ocean YieldThe two companies in February signed an option agreement for a 15-year charter of the FPSO. The option was to be exercised by May 1, with Aker also having the right to extend the option …
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Oil Drillers Given More Leeway by Trump Administration
by  Bloomberg | Jennifer A. Dlouhy The Trump administration is giving oil companies more flexibility when drilling offshore, by easing Obama-era mandates imposed in response to the 2010 Deepwater Horizon disaster. (Bloomberg) -- The Trump administration is giving oil companies more flexibility when drilling offshore, by easing Obama-era mandates imposed in response to the …
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Oil Extends Loss
by  Bloomberg | Heesu Lee | Oil extended losses after a bigger than expected jump in U.S. stockpiles overshadowed a deepening crisis in Venezuela and the prospect of OPEC+ extending their production cuts. (Bloomberg) -- Oil extended losses below $64 a barrel after a bigger-than-expected jump in U.S. stockpiles overshadowed a deepening crisis in …
Excel, Express, Dubri, Produce the Lowest Volumes in Nigerian Output
The Nigerian independent Express Petroleum produced 60Barrels of Oil Per Day on average, making it the E&P company with the lowest operated output in Nigeria in 2017, according to the latest annual report of the Department of Petroleum Resources DPR, the industry regulatory agency. Slightly ahead of Express is Excel E&P, credited with operated …
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Oil Prices Begin Week on Strong Note
by  Matthew V. Veazey | Rigzone Staff | Both the WTI and Brent contracts added more than $1 Monday. Both the West Texas Intermediate (WTI) and Brent oil futures contracts added more than $1 Monday. May WTI crude oil stayed above the psychologically significant $60 level throughout Monday’s trading. The benchmark gained $1.45 during the …
Saudi-Russia Alliance Shows Signs of Strain
by  Bloomberg | G.Smith, S.E.Wardany, D.Khrennikova, A.Hordern | The partnership at the heart of the OPEC+ alliance showed further signs of strain after Russia pressured the Saudi-led group to delay a decision on the future of their production cuts. (Bloomberg) -- The partnership at the heart of the OPEC+ alliance showed further signs of …
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