As highlighted repeatedly by OilPrice.com there are two extremely powerful reasons why the oil price has been effectively capped around US$75-80 per barrel of Brent since the end of the Continue Reading
OPEC and its allies, including Russia, believe oil markets do not need more oil than they plan to release in the coming months, despite U.S. pressure to add supplies to Continue Reading
The OPEC Monthly Oil Market Report for August 2021 was published this past week. The last month reported in each of the charts that follow is July 2021 and output Continue Reading
An attack with an explosive device on an oil field in the northern Iraqi region of Kirkuk was blamed on Islamic State militants, according to an unnamed source who spoke Continue Reading
A pipeline run by Oil Pipelines Co. in Iraq leaked liquefied petroleum gas on July 20, close to where a large plume of the super-potent greenhouse gas methane was detected. Continue Reading
Nigerian President Muhammadu Buhari on Monday signed the country’s newly passed petroleum bill into law, marking the end of 20 years of efforts at Africa’s top oil producer to overhaul Continue Reading
The president’s signing means he accepts the three per cent allocation that dimmed the passage of the bill in July after over a decade. President Muhammadu Buhari has signed the Continue Reading
President Muhammadu Buhari has signed the Petroleum Industry Bill (PIB) into law. Buhari assented to the bill on Monday, according to Femi Adesina, his spokesman. In statement, Adesina said Buhari Continue Reading
With evidence of an active petroleum system now confirmed after two test wells in Namibia’s 6.3-million-acre Kavango Basin, the game is afoot with 2D seismic and a 6-well exploration drilling Continue Reading
Negotiations for Venezuela’s November 2021 regional elections, which are being brokered by Norway, kicked off this week in Mexico. The talks between the authoritarian regime of Nicolas Maduro and opposition Continue Reading
