Smoke rises from the headquarters of Libyan state oil firm National Oil Corporation An armed group is reported to have stormed the headquarters of the National Oil Corporation (NOC) in Continue Reading
Mustafa Sanalla, the chairman of Libya’s National Oil Corp., was evacuated from the company’s headquarters in Tripoli Monday after gunmen stormed the building, detonating grenades, sources in the country told Continue Reading
As the deadline for US sanctions on Iranian crude oil draws near, loadings are still going on from Iran and some shipping companies view it as an opportunity to get Continue Reading
South Korea has become the first of Iran’s top 3 oil customers to fulfill a hard-line US demand that buyers cut imports to zero. (Bloomberg) — South Korea has become Continue Reading
Global markets have recently gone into overdrive in anticipation of the US-Iran standoff’s outcome. President Trump is building up pressure on Tehran, his latest move was to announce his chairing Continue Reading
When earlier this week reports emerged that Saudi Arabia is striving to keep oil prices in the range of US$70-80 per barrel in a bid to balance its need for Continue Reading
Shaky emerging market developments have been bearish for oil prices lately, with WTI falling to $68 per barrel by the end of the trading week after a $70 per barrel Continue Reading
Major changes are never going without instability, conflict and possible crisis. Saudi Arabia’s dramatic change to diversify its economy away from an oil-based rentier state status is not going as Continue Reading
The Baiji refinery, taken offline by the war with the self-proclaimed Islamic State (IS) militant group in 2014, has partially resumed operations. The 70,000 barrel per day (bpd) Salahaddin-2 unit Continue Reading
The Federal Government has secured a $500 million (about N179.9 billion) facility from the Export Import Bank of China (CEXIM) through the Bank of Industry (BOI) for the establishment of Continue Reading
