History’s largest oil glut just months away, says Rystad Energy

cameron venti ASmaVyS4AZM unsplashThe largest oil supply surplus the world has ever seen in a single quarter is about to hit the global market from April, creating an imbalance of around 10mn bpd

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Nigeria bans public service officials from travelling outside the country

Nigeria covid proneNigeria bans its public service officials from travelling outside the country, stops issuance of visa and restricts from COVID-19 prone countries

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‘Uncertainty looms over oil and gas M&A deals landscape amidst coronavirus outbreak’

25821588705 790e7ca91c cThe recent coronavirus (COVID-19) outbreak is adding further woes for the oil and gas industry, which is already plagued by oversupply and declining prices

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Presidential Advisory Council recommends measures to stablise economy

oil refinery pixabayNigeria’s Presidential Advisory Council had warned that in the midst of the falling price of oil due to the ravaging COVID-19, Nigeria risked sliding into recession

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Global oil demand now at 2.8mn bpd: Rystad Energy

lighted buildings near body of water 3105242Global oil demand will decrease by 2.8 per cent or 2.8mn bpd per day year-on-year as the spread of coronavirus continue to escalate, according to consultant Rystad Energy

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