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Nigeria Boosts Oil Production Above Its OPEC+ Quota

OilPrice

Higher exports and increased demand from the huge new African refinery, Dangote, pushed Nigerias oil production in February 70,000 barrels per day (bpd) above its OPEC+ quota of 1.5 The rise in Nigerian oil production and an increase in Irans output despite U.S. million bpd, a Reuters survey showed.

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Russia Switches to Crypto in Oil Trade

OilPrice

Russia is increasingly using cryptocurrencies in its oil trade with top clients China and India amid U.S. sanctions, Reuters has reported, citing unnamed sources, who said Russian oil traders were using the cryptocurrencies to facilitate the conversion of yuans and rupees into rubles. Cryptocurrencies

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Exxon Bets Big on Natural Gas in Its Eighth Guyana Oil Project

OilPrice

ExxonMobils eighth oil project offshore Guyana will also be the biggest natural gas development of the Exxon-led consortium in the prolific Stabroek Block. Exxon and its partners in Guyanas oil projects, U.S. Hess Corp and CNOOC of China, expect to produce up to 1.5

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Tanzania Plans to Launch Its First Oil and Gas Bid Round in Over a Decade

OilPrice

Tanzania plans to launch in May its fifth oil and gas licensing round for 26 exploration blocks in what will be the East African countrys first such bidding round since 2014.

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Harold Hamm Sounds the Alarm: Low Oil Prices Could Shut Down US Shale

OilPrice

Shale titan Harold Hamm isnt mincing wordsif oil prices stay this low, drilling in some of Americas prized shale fields could grind to a halt. Speaking at CERAWeek in Houston, the Continental Resources founder warned that with oil hovering near $65 a barrel, many U.S. Its not exactly the raucous celebration oil executives had

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Iran Sanctions Prop Up Oil Prices

OilPrice

A new round of sanctions targeting Irans oil industry and the countrys oil minister boosted oil prices earlier today, offsetting the negative effect of the International Energy Agencys latest monthly report, released Thursday. The IEA said in the March edition of its Oil Market Report that global oil supply was 600,000

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Russia Set to Resume Oil & Gas Operations in Iraqi Kurdistan 

OilPrice

Russia is to restart its key oil and gas operations in the semi-autonomous Kurdistan Region of Iraq (KRI) according to recent comments from its Energy Minister Sergei Tsivilev. This encompassed the KRI, much of the rest of Iraq under the control of its Federal Government

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