Proposed Oil Institute will develop skills, create jobs – Minister

27 September 2017, Sweetcrude, Lagos – The Oil and Gas Equipment and Machinery Development Institute planned by the Federal Government for establishment in Yenagoa, Bayelsa State, will develop skills in the oil and gas sector as well as create jobs and wealth. Minister of Science and Technology, Dr. Ogbonnaya Onu, who disclosed this, also said […] More »

How OPEC can achieve $60pb oil price target – Harold Hamm, Shale billionaire

OpeOluwani Akintayo 27 September 2917, Sweetcrude, Lagos – The Organisation of the Petroleum Exporting Countries, OPEC, can achieve its goal of a $60 per barrel of crude oil despite the fuss ongoing at the international crude oil, shale billionaire, Harold Hamm told Bloomberg during a live broadcast on Tuesday. His reaction came after Nigeria’s oil […] More »

Petrobras in $6.22b debt mess

OpeOluwani Akintayo 26 September 2017, Sweetcrude, Lagos – Brazil’s national oil company, Petrobras is currently in a $6.22 debt mess. The company, currently is unable to pay back the loan due to low oil prices, prompting its creditors to agree on crude swap to reduce the debt burden. The debt will be settled through bonds […] More »

Tuesday Trading by Energy Companies at the Nigerian Stock Exchange

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Chevron to invest $4bn in shale oil 2018

OpeOluwani Akintayo 26 September 2017, Sweetcrude, Lagos – Chevron will invest $4 billion in shale oil in 2018, Ryan Krogmeier, Chevron’s vice president of crude supply and trading, has said. In a statement on Monday, Krogmeier said the company will “be investing roughly $4 billion, next year, of capital in the Permian Basin”, and plans […] More »

OPEC can achieve $60pb oil price target – Harold Ham

OpeOluwani Akintayo with agency Reports 26 September 2017, Sweetcrude, Lagos — The Organisation of the Petroleum Exporting Countries, OPEC can achieve its goal of a $60 per barrel of crude oil despite the fuss ongoing at the international crude oil, shale billionaire, Harold Hamm told Bloomberg during a live broadcast on Tuesday. His reaction came […] More »

OPEC daily basket price close at $55.62/b

26 September 2017, Sweetcrude, Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $55.62 a barrel on Monday, compared with $54.84 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial […] More »