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.

High oil revenue did not translate to job creation, reduction of poverty –Buhari

EditorOctober 23, 2018

by EditorOctober 23, 20180784

By Thompson ABISOLA President Muhammadu Bauhari has said the high revenue earned over the years from the sale of crude oil and other sources did

Featured Gas Oil

Oil rises on Iran sanctions, though U.S.-China trade war clouds outlook

EditorOctober 23, 2018

by EditorOctober 23, 20180792

By Aliyu DANLADI Oil prices rose on Monday as markets were expected to tighten once U.S. sanctions against Iran’s crude exports are implemented next month.

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FG loses $2.5bn to gas flaring – Expert

EditorOctober 22, 2018October 22, 2018

by EditorOctober 22, 2018October 22, 20180709

By Thompson ABISOLA An Energy and Infrastructure Policy research organisation, Mr Chinedu Onyeizu, Chief Executive Officer, AfriPERA, says Nigeria loses about 2.5 billion dollars annually

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Weights and Measures seals 11 filling stations in Kano for under-dispensing products

EditorOctober 20, 2018October 20, 2018

by EditorOctober 20, 2018October 20, 20180766

By Thompson ABISOLA The Weight and Measures Department of the Federal Ministry of Industry, Trade and Investment on Friday sealed 11 filling stations in Kano

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Oil prices edge up, but set for weekly loss on stock build, trade row

EditorOctober 20, 2018

by EditorOctober 20, 20180827

By Thompson ABISOLA Oil prices nudged higher on Friday on signs of surging demand in China, the world’s second-biggest oil user. Although prices are set

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Oil rises to approximately $80

EditorOctober 20, 2018

by EditorOctober 20, 20180756

By Olamilekan FAWAS Oil prices rose on Friday, helped by an ongoing Sino-U.S. trade war and concerns over the death of a prominent Saudi journalist.

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Price hike: DPR shuts three fuel stations in C/River

EditorOctober 19, 2018

by EditorOctober 19, 20180795

By Thompson ABISOLA The Department of Petroleum Resources (DPR) has re-sealed three fuel stations in Odukpani Local Government Area of Cross River. The station were

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Oil slips below $80 on rising U.S. stockpiles

EditorOctober 19, 2018

by EditorOctober 19, 20180772

By Thompson ABISOLA Oil slipped below $80 a barrel on Thursday as the fourth weekly increase in U.S. crude inventories suggested ample supply, while Saudi-U.S.

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Exxon Mobil signs framework agreement on LNG supply with Zhejiang Energy

EditorOctober 19, 2018

by EditorOctober 19, 20180860

By Thompson ABISOLA Exxon Mobil Corp has signed a framework agreement on a 15-year liquefied natural gas (LNG) supply deal with Zhejiang Provincial Energy Group.