Goldman Sachs: Jet Fuel Demand Recovery Could Take Years

May 14, 2020 308

Aviation Oil & Gas

By Tsvetana Paraskova – May 11, 2020 While global oil demand is set to rebound with a V-shaped recovery, demand for jet fuel will continue to languish for at least another two years, cut by significantly reduced business travel, Goldman Sachs says, reported by Business Insider. “We believe oil will exhibit a V-shaped recovery, but […]Continue Reading

Oil Markets: Can Lockdown Easing ,Output Cut Stem the Bloodbath?

May 6, 2020 307

Oil & Gas

by Sanya Ademiluyi The heavy pall cast by the sudden collapse of international oil prices a forthnight ago and the ensuing market turmoil, began to lift off the market this week. One piece of good news which may have cheered the market was the gradual re-opening of several economies round the world which shell-shocked by […]Continue Reading

ExxonMobil Loses $600M In Ist Quarter

April 22, 2020 306

Briefs Oil & Gas

ExxonMobil (NYSE: XOM) reported a $610 million loss in the first quarter, the first loss in more than three decades ,April 8. The supermajor said it would idle 75 percent of its rigs in the Permian basin, where it will concentrate its cuts because of the short-cycle nature of drilling. It also projects that spending […]Continue Reading

OPEC Plus, Others Cut 10 mbpd Oil Output

April 11, 2020 306

Breaking News Oil & Gas

Putin's Russia leads OPEC+Continue Reading

Nigeria Agrees$8billion Debt Settlement with JV Partners

December 17, 2016 308

Oil & Gas

Ibe Kachikwu by Sanya Ademiluyi Last Thursday ,December 15,2016 the Nigerian government finally signed an agreement with its multinational oil and gas joint venture partners to liquidate longstanding joint venture cash calls debts. The debts were owed the multinational JV companies by the Nigerian government. JV cash all debts have been a sore point between […]Continue Reading

NNPC: Baru Stages A Successful Crude Oil Bid Opening

November 27, 2016 393

Oil & Gas

By Sanya Ademiluyi, editor Dr Maikanti Baru, current group managing director of the Nigerian National Petroleum Corporation, NNPC appears determined to spearhead a change at the country’s oil octopus. Few weeks ago, Baru staged what can be considered the corporation’s first open bidding session for crude oil lifting contracts in several years. For many years […]Continue Reading