barrels

Nigeria’s crude oil daily output has increased by 200,000 barrels over the last six months due to security measures introduced in the Niger Delta, a presidential aide has said. Stability in the oil producing areas has also increased the availability of NLNG Trains 1-6 from 57 per cent in 2023 to 70 per cent in the first quarter of 2024, the Special Adviser to the President on Energy, Olu Verheijen, said. She stated this on Friday in Abuja at a media briefing on policy directives of the President Bola Tinubu…

Social media app Bluesky has picked nearly a million new users just a day after exiting its invitation-only beta and opening to everyone. In a post on its main rival — X (formerly Twitter) — Bluesky shared a chart showing a sudden boost in usage on the app, which can now be downloaded for free for the iPhone and also Android devices. Bluesky added that since broadening the availability of the service yesterday by coming out of beta, the app has seen more than 850,000 new signups, expanding its community to more than…

Dangote Refinery has made a further move towards the commencement of the production of refined petroleum products with the receipt of an additional one million barrels of crude bonny light supplied by the Nigeria National Petroleum Corporation (NNPC). The fresh one million barrels of crude from the Shell terminal via the MT Otis owned by Trafigural is the second consignment to be delivered to the Dangote facility out of the six million barrels of crude being expected by the world’s largest single-train refinery.…

The Deputy Managing Director, Deepwater Asset, TotalEnergies Upstream Nigeria Limited (TUPNI), Victor Bandele, has expressed appreciation to the Group Chief Executive Officer (GCEO), Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, over his intervention that unlocked 30,000 barrels per day of new oil from the Egina and Akpo fields expected before the end of the year 2023. Specifically, he thanked Mr Kyari, for enabling the deepwater Production Sharing Contract (PSC) to engage the services of Gerry…

Saudi Arabia and other major oil producers, including Russia and UAE, announced surprise cuts totalling 1.15 million barrels per day from May until the end of the year, a move that could raise prices worldwide. The cuts were made public in a series of statements from seven different countries.…

Bitcoin is on course for one of its biggest weekly gains of recent years, bolstered by wagers on eventual cuts in interest rates as the token rides out convulsions in the banking sector.The largest digital asset is up about 25% since the start of Monday. It's had a weekly jump of at least that much only 10 times in the past five years, data compiled by Bloomberg show. Smaller coins like Ether and Dogecoin are also rallying. The collapse of three regional US lenders and wobbles at Credit Suisse Group AG are strengthening…

Bitcoin is set for its best January since 2013 on bets that monetary tightening and the crypto-sector crisis are both ebbing. Bitcoin is set for its best January since 2013 on bets that monetary tightening and the crypto-sector crisis are both ebbing.The largest token is up 40% since the turn of the year, a first-month gain bettered only twice before when crypto was in its infancy. Smaller coins like Solana, Axie Infinity and Decentraland have doubled in value, part of a $280 billion January climb in digital assets…

Fast News Ankara aims to increase its daily production to 100,000 barrels in the centennial of the Republic of Türkiye, Turkish President Erdogan says. Oil reserves at southeastern Gabar Mountain, one of the top 10 onshore discoveries in 2022, Turkish President Recep Tayyip Erdogan says.…

President Muhammadu Buhari on Tuesday flagged off the first crude oil drilling project in northern Nigeria, on the boundary of Bauchi and Gombe States. The NNPC had in October 2019 announced the discovery of hydrocarbon deposits in the Kolmani River II Well on the Upper Benue Trough, Gongola Basin, in the North-eastern part of the country. The commercial quantity discovery was the first in the region after several crude oil explorations in the Upper Benue Trough. The oilfield will be developed by Sterling Global…

President Biden's planned announcement to draw down from strategic reserves comes after Saudi Arabia-led cartel's decision had Washington saying Riyadh sided with Moscow and pledging consequences for supply cuts of 2 million barrels a day. Biden releasing 15 million barrels would not cover even one full day’s use…