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

May 6, 2020 440

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 426

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 426

Breaking News Oil & Gas

Putin's Russia leads OPEC+Continue Reading

Nigeria Agrees$8billion Debt Settlement with JV Partners

December 17, 2016 432

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