Category : Oil

Latest and breaking oil news from various energy sector around the world. Our news analysis covers Fossil fuels and alternative energy

Why Oil News?

Oil has been the world’s most important source of energy since mid-1950s. Its products underpin modern society, supplying energy to power industry, heat homes, fuels for vehicles and various means of transportation to carry goods and people all over the world.

For this reason, it is important we stay informed on one of our high-priced goods to ensure our resources are safe and secured.

Oil prices rise on U.S. push to shut out Iran, supply disruptions

EditorJune 28, 2018

by EditorJune 28, 20180697

By Meletus EZE Oil prices rose on Wednesday as a supply disruption in Canada tightened the market and after United States officials told importers to

Featured Finance Oil

FAAC meeting ends in deadlock

EditorJune 28, 2018

by EditorJune 28, 20180744

By Meletus EZE The monthly Federation Account Allocation Committee (FAAC) meeting ended in a deadlock on Wednesday in Abuja. The FAAC monthly meeting is the

Featured Gas Oil

Oil prices rise on uncertainty over Libyan crude exports

EditorJune 27, 2018

by EditorJune 27, 20180723

By Meletus EZE Oil prices rose, Tuesday on uncertainty over Libyan oil exports, although plans by producer cartel OPEC to raise output loom. Brent sweet

Featured Gas Oil

NEITI advocates urgent review of production sharing agreements with oil companies

EditorJune 26, 2018

by EditorJune 26, 20180792

By Thompson ABISOLA The Nigeria Extractive Industries Transparency Initiative (NEITI) called for a review of the Deep Offshore and Inland Basin Production Sharing Agreement between

Featured Gas Oil

CSO seeks quick passage of Petroleum Industry Bills

EditorJune 26, 2018

by EditorJune 26, 20180738

By Thompson ABISOLA Publish What You Pay (PWYP), a Civil Society Organisation (CSO), has advocated for the quick passage of the Petroleum Industry Bills (PIBs),

Featured Gas Oil

NLNG to boost domestic LPG supply with new LPG vessel

EditorJune 25, 2018

by EditorJune 25, 20180705

By Meletus EZE Nigeria Liquefied Natural Gas Limited (NLNG) is planning to reinforce the domestic Liquefied Petroleum Gas (LPG) market with a new LPG vessel

Featured Gas Oil

Oil prices: Trump did not pressure us to increase production – Barkindo

EditorJune 25, 2018

by EditorJune 25, 20180651

By Thompson ABISOLA The Secretary-General of OPEC, Mr Muhammad Barkindo, has dismissed suggestions that pressure by US President, Mr Donald Trump, played a role in

Featured Gas Oil

Nigeria may lose $561.2m to 50% PMS import rebate in 2018 – NPA

EditorJune 22, 2018

by EditorJune 22, 20180700

By Kunle SHONUGA Managing Director, Nigerian Ports Authority (NPA), Hadiza Usman said Nigeria might lose about 561.2 million dollars and N34.2 million if the approved

Featured Gas Oil

Oil remains essential for Nigeria’s economic growth, says Baru

EditorJune 22, 2018

by EditorJune 22, 20180814

By Meletus EZE The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, said oil revenue remained vital for building the nation’s economy.