Tag: COVID19

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OPEC Boosts Oil Production by 0.4 million barrels per day in October

On September 1, 2021, the virtual 20th OPEC and non-OPEC Ministerial Meeting (ONOMM) came to an end. Although the consequences of the COVID-19 pandemic continue to throw some doubt, market...
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OPEC Discusses Impact of COVID-19 Surge in India in latest MOMR; 2021 Demand Forecast Unchanged

In the latest edition of the Organisation of Petroleum Exporting Countries’ Monthly Oil Market Report (MOMR), the Group did not change its projected global oil demand forecast for 2021 due...
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Saudi’s Aramco Reports 44% Slide in its Net Profit for 2020

In a statement to the Tadawul Stock Exchange, where the Company shares trade, the world's largest oil-exporting company, Saudi Aramco, has reported a 44% slide in net profit for 2020...
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Tanzania Sees an Increase in Gas Production and Supply; Malawi Increases Fuel Price

Wentworth Resources Limited announced an increase in production of natural gas in Mnazi Bay, Tanzania, in November 2020. The increase in demand caused the production at the Bay to rise...
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Nigeria’s Crude Oil Export Earning Rose to 116% in November 2020

At the Virtual 19th Nigeria Oil and Gas Conference that held on Tuesday, 8th December 2020, the Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), Mohammad Sanusi Barkindo, disclosed...
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EPRA Kenya Reduces Prices of Petrol, Diesel and Kerosene

Amidst the fear of the second wave of COVID-19 and the hike in the price of petrol in some countries which some attribute to the announcement of a vaccine for...
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Falling Oil Price May Affect Nigeria’s 2021 Budget – Finance Minister

The Nigerian Minister of Finance, Budget and National Planning, Zainab Ahmed, said the resurgence of COVID-19 in Europe which has led to lockdowns and re-enforcement of restrictions and has caused...
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Uganda Received No New Bid for Its Licensing Round After a Six-month Extension

According to The EastAfrican, the second round of bids for Uganda's oil licensing round that expired at the end of September ended with no new expressions of interest received from...
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OPEC Publishes 2020 World Oil Outlook 2045

The 2020 OPEC World Oil Outlook (WOO) was launched on 8th October 2020 in Vienna, Austria. The latest edition avails the Organisation with an in-depth look at the unprecedented scale...
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Chevron to Reduce its Workforce in Nigeria by 25%

Chevron Nigeria Limited has announced that is cutting its workforce by 25% as a result of the prevailing business climate caused by the COVID-19 pandemic which has led to low...
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