Data obtained from the United States, US, Energy Information Administration, EIA, has put the continued decline of employment in the oil and natural gas production across the world at 26 percent between 2014 and 2016. The report, which captured between October 2014 and May 2016, stated that employment in oil and gas production reached a
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
Major Oil producers plan to meet in Russia to agree on Output as way of saving the falling Crude Prices
Key members of the Organization of Petroleum Exporting Countries (OPEC) intend to meet with other producers in Russia on March 20, 2016 to renew talks on an agreement to cap oil output, Nigeria’s petroleum minister said. Russian State Run news channel RT has also confirmed the development. There will be a “dramatic price movement” when
Oil and Politics: Nigerian president Buhari expected to takeover Oil Ministry
Newly elected president of Nigeria Muhammadu Buhari is expected to appoint himself as head of the Oil Ministry reportedly over the massive corruption in the industry sources have said. As the nation eagerly awaits for the new cabinet, a source in Nigeria told reuters that the oil sector is so dirty that nobody’s hands are