Category: Oil & Gas

Energy Worth with Agency Report Minister of state for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, said Nigeria would advise against additional oil supply to the global market by OPEC and non-OPEC members. Kachikwu made the country’s position known in an interview with journalists on Thursday ahead of the 174th Meetings of the OPEC Conference and…

By Cyril Widdershoven After a hectic week of unofficial meetings between OPEC members in Vienna, largely in and around the Hofburg, the former residency of the Austrian Emperor Franz Jozef and his wife Sisi, an official production increase agreement has finally been reached. In the official OPEC communique, the oil cartel stated that overall production…

By Nick Cunningham The latest from Vienna is that Russia and Saudi Arabia are leaning towards the aggressive end of the suite of options under consideration, but as always, the negotiations remain fluid. Reuters said that Saudi Arabia and Russia could push a 1.5-million-barrel-per-day increase as a negotiating tactic in order to get the rest…

By Tsvetana Paraskova Although OPEC and its Russia-led non-OPEC allies have not yet decided if and how much oil they will restore to the market, Russia’s plans for exports and refinery runs in the coming months point to Moscow preparing to increase its oil production, as early as in July. Russia’s July-September crude oil exports…

By Nick Cunningham The U.S. dollar has jumped to its strongest level in nearly a year, raising questions about how a strong greenback could act as a drag on debt and oil demand in much of the world. The U.S. Federal Reserve announced another rate hike a few days ago, which helped edge up the…

By Nick Cunningham The OPEC meeting is a week away and based on the signals from the group’s top producers, the market is assuming that the group will increase oil production. However, the exact amount is still unknown, and the fallout from the lack of consensus could play out in several ways. It has been…

By Cyril Widdershoven The ongoing speculation online about the future of cooperation between Russia and OPEC seems to be a little one-sided. The main point of discussion up until now has been the fact that, due to international pressure (such as Trump’s Twitter diplomacy, perceived Russian willingness to open up the taps and pressure from…

By Robert Rapier You probably have noticed that gasoline prices are again on the rise. Predictably, I have already seen stories arguing about President Trump’s culpability in this current price rise. It never fails that when gasoline prices decline, a President and his allies are quick to take credit. And when prices rise, the opposition…

“Financing oil and gas in a cyclical industry means that a long term view on the underlying growth prospects of the recipient or project is necessary. Risk mitigation is about understanding the bankability of the project as much as it is about appetite”, stated Rolake Akinkugbe-Filani, Head of Energy and Natural Resources at FBNQuest Merchant…

By Energy Worth The Federal Government and the Kingdom of Morocco on Monday in Rabat, Morocco, signed three agreements as part of activities marking President Muhammadu Buhari’s two-day visit to the country. According to a statement by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, the agreements included that of…