Tag Archives: Business Day

Saudi Arabia’s state-run energy firm is splitting its gas production division in two, as the fuel becomes increasingly important for expanding its chemicals business and amid efforts to position itself for the energy transition. The Saudi Arabian Oil Company (Saudi Aramco) will create two new divisions, named Southern Area Gas …

Oil prices rose on Monday, recovering from a seven-day losing streak as investors hunted for bargains and a softer dollar lent support, though persistent anxiety over surging cases of the Delta coronavirus variant kept sentiment cautious. Brent crude futures climbed $1.16, or 1.8%, to $66.34 a barrel by 6.30am, after …

Oil prices steadied on Wednesday after a steep drop in the previous session, after the cancellation of talks among OPEC+ producers that raised the prospect that the world’s major crude exporters will turn on the taps to gain market share. Brent crude was up 3c at $74.56 a barrel by …

Oil prices rose on Wednesday after oil cartel Opec and its allies stuck to their plan to cautiously return oil supply in June and July while expecting fuel demand to rebound strongly during the US summer. US West Texas Intermediate (WTI) crude futures rose 32c, or 0.5%, to $68.05 at …

Oil prices fell on Thursday but stayed within the tight range set this week, with optimism about the northern hemisphere summer driving season in the US and Europe offsetting concern about demand in India and a potential increase in Iranian supplies. Brent fell 57 US cents, or 0.8%, to $68.30 …

Oil edged higher at the open after a third weekly increase as a demand recovery in key regions raised optimism about rising fuel consumption, despite a Covid-19 flare-up in parts of Asia. Futures in New York climbed towards $66 a barrel after advancing 2.4% on Friday. The US and China …

Oil prices rose on Wednesday, extending gains from the previous session after industry data indicated US crude stocks fell much more than expected last week, reinforcing bullish views on fuel demand in the world’s largest economy. US West Texas Intermediate (WTI) crude futures rose 48 US cents, or 0.7%, to …

Again, experts are warning that Nigeria as a country is slipping away in the face of global competition among the oil-producing countries. They are of the opinion that Nigeria remains a country to watch in view of the global COVID19 Pandemic. Because she may not be able to withstand the …