By Gaurav Sharma… Towards the middle of the current trading year, a glut ridden oil market had started showing some signs of rebalancing. Decline in US oil production was being reflected in the data, much to the delight of the Organization of Petroleum Exporting Countries (OPEC). So when the oil producers’ collective met at its
Nigeria Sets Special Fund Worth $100 million to Revamp its Oil Price hit Sector
Nigeria’s government has launched a special fund worth US$100 million to take care of securing the credit that the oil industry of the country needs. Called a Nigerian Content Intervention Fund, the vehicle will be managed by the Nigerian Content Development and Monitoring Board and the Bank of Industry. Until now, Nigerian oil service companies
Positive Impact of Nigeria Oil War? Cut in Production has resurrected Oil Market Prices
Brent crude oil prices rose on Monday, lifted by a plunge in the dollar that could spur demand just as attacks on Nigerian oil infrastructure tighten supplies, but signs of recovering U.S. output capped gains. Brent crude futures LCOc1 rose as high as $50.10 but retreated to be up 38 cents or 0.7 percent at
Tullow oil cuts expenditures further as the global oil-price drop rages on
In November 2014, Tullow Oil PlC released an Interim Management Statement reviewing its capital expenditure. “In light of current oil and gas sector challenges including the commodity price environment, we are reviewing our capital expenditure and our cost base to ensure that Tullow is well-positioned for future success.” the Chief Executive Officer of Tullow Oil,