Browsing Tag

barrels

NOSDRA Confirms 45 Barrels of Crude Oil Leaked And not 45, 000 Barrels

Nathan Nwakamma Sep 7, 2020 0

The National Oil Spills Detection and Response Agency (NOSDRA), on Monday, confirmed that 45 barrels and not 45, 000 barrels of crude oil leaked from a wellhead in Bayelsa on March 17.The News Agency of Nigeria (NAN)…

Business

Brent oil rises back above $80 as Iran sanctions loom

Abdullahi Mohammed Oct 22, 2018 0

Brent crude oil prices rose back above $80 a barrel on Monday as markets were expected to tighten once U.S. sanctions against Iran’s crude exports are implemented next month.Benchmark Brent crude oil futures LCOc1 were at $80.26 a…

Business

Global Market – Oil rises to $56, shares up in Asia on relief at N.Korea inaction

Uju Sep 11, 2017 0

The U.S. dollar won a reprieve from risk aversion on Monday after North Korean Kim Jong Un held a party over the weekend rather than launch another missile, tempering safe havens such as the yen and Treasuries.In commodity markets, gold…

Business

Oil rises to $53 pb on 8th weekly U.S. crude stock draw-down

Uju Aug 23, 2017 0

Oil prices rose on Wednesday after U.S. crude inventories declined for the eighth straight week and a storm approached the Gulf Coast with the potential to disrupt oil and refined products output.Brent crude futures climbed 58 cents to…

Business

Oil rises toward $53 a barrel

Uju Aug 9, 2017 0

Oil rose toward 53 dollars a barrel on Wednesday ahead of a U.S. inventory report expected to show crude stocks dropped for a sixth week.Brent crude LCOc1, the global benchmark, was up 50 cents at 52.64 dollars, after two days of decline.…

Business

Oil prices rise above $50 as falling US inventories stoke rebalancing hopes

Uju Jul 26, 2017 0

Oil prices rose to near eight-week highs on Wednesday as a fall in US inventories bolstered expectations that the long-oversupplied market was moving toward balance.Brent crude futures rose 40 cents to 50.60 dollars a barrel by 1213 GMT…

Business

Nigeria Signs $700b Oil Exploration Deal With Schlumberger

Emma Jun 30, 2017 1

Nigeria has signed a deal with Schlumberger to give $700 million for development of two oil fields in the South South region.According to reports the two oil fields in Anyala and Madu, have 193 million barrels of crude reserve…

Business

Nigeria inches closer to 40bn barrels oil reserve target

Uju Jun 30, 2017 0

The Nigerian National Petroleum Corporation (NNPC) says plans to grow the nation’s crude oil reserves to 40 billion barrels by the year 2020 have received a major boost.The Group Managing Director of the NNPC, Dr Maikanti Baru, said…