African nations should reject anti-fossil fuel policies at COP 28 The hypocritical, biased and unjust climate agenda poses a direct threat towards Africa’s development, and countries should remain resilient in their efforts to defend their right to utilize oil and gas. With COP 28 set to conclude in the coming days, a COP where […]
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OIL MARKET: Prices hover at over $80 per barrel OPEC+ announce additional voluntary cuts By Eyo Nsima Oil prices, weekend, dropped to over $80 per barrel, from more than $90 per barrel, recorded in October 2023 as the OPEC+ countries move to achieve market stability. Specifically, the prices of Bonny Light, OPEC Basket and
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COP28: Focusing on a holistic approach to the energy system COP28 marks both a milestone in the ongoing negotiations on the future of our planet and a moment of pride for OPEC as it takes place in one of our Member Countries, the UAE. The UAE plays a critical role as a climate leader,
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AWARD: OPEC Scribe gets highest rank of Brazil’s prestigious Order of Rio Branco HE Haitham Al Ghais, OPEC Secretary General, was presented today with the highest rank of the Order of Rio Branco (rank: Grand Cross) of the Federative Republic of Brazil in recognition of his distinctive achievements in the fields of energy and
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OIL MARKET: OPEC puts world economic growth at 2.7% and 2.6% in 2023, 2024 By Eyo Nsima The Organisation of Petroleum Exporting Countries, OPEC, has put the world economic growth in 2023 and 2024 at 2.7 per cent and 2.6 per cent. In its August 2023 Monthly Oil Market Report, MOMR, obtained by The Daily, www.thedaily-ng.com, OPEC, stated:
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OPEC: Saudi Arabia, Iraq, UAE remain top 3 oil producers By Eyo Nsima Saudi Arabia, Iraq and the United Arab Emirates, UAE remain the top three oil-producing members of the Organisation of Petroleum Exporting Countries, OPEC with 9 million barrels per day, bpd, 4.2 million bpd and 2.9 million bpd respectively. In its August 2023 Monthly
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OIL MARKET: Prices hit $86.55 per barrel on OPEC meeting By Eyo Nsima The prices of crude oil have risen to more than $86.55 per barrel, from $82 per barrel, due mainly to the resolutions of the just-concluded meeting of the Joint Ministerial Monitoring Committee (JMMC) of the Organisation of Petroleum Exporting Countries; OPEC. The
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Global rig count rises 3.4% to 1,884 — OPEC By Eyo Nsima Despite the clamour for Energy transition, there are indications that the oil and gas industry still attracts significant investment globally as the rig count, an index of measuring upstream activities, rose by 3.4 per cent, year-on-year, YoY basis to 1,884 in June 2023,
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OIL MARKET: OPEC committed to achieving global market stability — H.E. Antonio Oburu Ondo By Eyo Nsima The Minister of Mines and Hydrocarbons of Equatorial Guinea and President of the Organisation of Petroleum Exporting Countries, OPEC, H.E. Antonio Oburu Ondo, has expressed the commitment of OPEC to achieving market stability. Ondo noted that the market
OPEC’s rig count rises 14.9% to 423 as Non-OPEC leaps to 1,461 — Report By Eyo Nsima The rig count of members of the Organisation of Petroleum Exporting Countries, OPEC, rose year-on-year, YoY by 14.9 per cent to 423 in June 2023, from 368 in the corresponding period of 2022. But on a month-on-month, MoM
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