Tag Archives: The Nation Magazine

Oil prices remained fairly range-bound in 2019 despite geopolitical shocks and OPEC output cuts.

The United Arab Emirates (UAE) will invest $5 billion in an oil refinery project in Pakistan by the end of the year.

West Texas Intermediate futures rose one per cent to $56.32 a barrel on the New York Mercantile Exchange. Brent crude.

OPEC was close to agreeing to extend a pact on cutting oil supplies beyond June.

U.S. crude inventories swelled by 4.7 million barrels in the latest week to their highest since July 2017.

Total also planning to expand its Nigerian LNG project this year.

Sixteen companies. including five majors. have submitted 60 applications for the five acreages on offer in Ghana’s first licencing round.

Turkmenistan has already completed the construction of gas pipeline in its section.

Iran. Libya and Venezuela are exempted from the cuts.

Under the agreement Turkmenistan will make an investment of around $24 billion to deliver around 3.2 bcfd of gas for 25 years.