by Bloomberg | Heesu Lee | Oil held above $60 a barrel after the biggest withdrawal of crude in American storage tanks since July raised speculation that global supplies are tightening. (Bloomberg) -- Oil held above $60 a barrel after the biggest withdrawal of crude in American storage tanks since July raised speculation that global …
Oil Climbs the Most in a Week
by Bloomberg | Saket Sundria Oil climbed the most in a week after an industry report signaled a surprise decline in U.S. oil inventories and Russia confirmed it's reducing production in line with an agreement by OPEC and its allies. (Bloomberg) -- Oil climbed the most in a week after an industry report signaled a …
Traders’ Knee-Jerk Reaction to Trump OPEC Tweets
by Andreas Exarheas | Rigzone Staff | The first instinct of traders when they see President Trump tweeting on OPEC is to sell crude, according to Kingsview Asset Management. The first instinct of traders when they see President Trump tweeting on OPEC is to sell crude. That’s according to Paul Nolte, a senior vice …
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Oil’s Rally Fizzles
by Bloomberg | Tsuyoshi Inajima Oil is stumbling after a 30 percent rally since Christmas Eve as speculation swirls over whether OPEC will heed Donald Trump's call to temper prices. (Bloomberg) -- Oil is stumbling after a 30 percent rally since Christmas Eve as speculation swirls over whether OPEC will heed Donald Trump’s call …
Is the OPEC, Russia Honeymoon Over?
by Cyril Widdershoven | Rigzone Contributor OPEC still needs an official arrangement, but for Russia the argument is weakening. This opinion piece presents the opinions of the author or authors. It does not necessarily reflect the views of Rigzone During the next few months the oil market could be hit—again—by some decisive changes, as …
Acreage Renewal Issue Clears Up: Shell Announces International Tenders for Bonga SW Project
Partners in the Bonga South West Aparo field Development, in deep water off Nigeria, now have certainty that the licences of acreages hosting the fields will be renewed for a period covering the life of the project. The field straddles Oil Mining Leases (OMLs) 118, 132 and 140. That the government had not expressly given …
Oil Extends Gains
by Bloomberg | Sharon Cho and Grant Smith Oil extended gains from a 3-month high as industry data signaled a limited increase in American crude stockpiles, and on signs that the U.S. and China are moving closer to a trade deal. (Bloomberg) -- Oil extended gains from a three-month high as industry data signaled …
Nigeria, India Pledge Deeper Collaboration on Energy Sector
Nigeria and the Republic of India have pledged to work more closely to enhance energy security of both countries. The consensus came on the heels of a visit today in Abuja of the Indian High Commissioner to Nigeria, His Excellency, Abhay Thakur, to the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. …
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Nigeria to Boost Domestic Gas Supply by 600mmscfd
…As NNPC, JV Partners Sign FID on Assa North Fields A major step on attaining sufficiency in domestic gas supply was taken by the Nigerian National Petroleum Corporation (NNPC) Wednesday in Abuja with the execution of Final Investment Decision (FID) on the development of the 4.3trillion cubic feet Assa North/Ohaji South Fields (ANOH) in OML …
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NOPEC Bill to Fail if Brought to a Vote
by Andreas Exarheas | Rigzone Staff Fitch Solutions expects the NOPEC bill to fail if brought to a vote. Fitch Solutions expects the NOPEC bill to fail if brought to a vote, according to a report published by the company earlier this week. “The U.S. oil industry and oil producing states would fiercely oppose …
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